Company Performance Metrics
Mike Iverson: CFO- Phil Binkow: CEO & Founder
Financial Operation Networks management team has a collective 105 years’ of operating experience in the accounts payable space. The CEO Phil Binkow and the management team have worked together for a total of 71 years, initially at PayTECH, one of the leading electronic invoice and information processing companies. During that time, PayTECH
processed over one hundred million invoices annually, and as you can imagine, spent considerable effort and financial resources answering vendor calls and emails. To eliminate the manual process of answering call after call and email after email, in 1996 the team developed a vendor self-service portal to replace costly manual responses to inquiries. After the sale of PayTECH in 1999 (to Profit Recovery Group [NASDAQ:PRGX]), the team founded Financial Operations Networks, the parent of The Accounts Payable Network (TAPN) and InvoiceInfo. TAPN became the world’s leading resource dedicated to helping AP professionals and their departments become best in class. InvoiceInfo is the payment status portal of choice for leading companies worldwide. Having recently sold The Accounts Payable Network to Diversified Business Communications, the entire focus and mission of FON is to help AP and procurement professionals excel at vendor management through a wide variety of tools and strategies, including its vendor self-service portal, InvoiceInfo
