November 13, 2018, ROCKAWAY, NJ – Lucrotec, an intelligent payment automation solution provider, today announced that its board of directors has appointed Dave Spofford as the Company’s chief executive officer, effective November 2018. Spofford was also elected to serve on Lucrotec’s Board of Directors.
As CEO, Mr. Spofford will be responsible for managing the strategic direction of Lucrotec, its operations, and its resources. He brings a distinguished background of senior executive experience to the role, leveraging nearly 30 years of successfully leading and growing early stage companies, and meeting the needs of highly sophisticated global enterprise clients including 3M, PNC Bank, Liberty Mutual Insurance, Intel, HSBC, and Cigna.
“I’m excited to join Lucrotec and look forward to leveraging my experience and knowledge in the payment industry to help guide Lucrotec’s growth as the market awareness of our payment automation offering increases,” said Dave Spofford. “I’m fortunate to have worked with Lucrotec in my prior position and have first-hand knowledge of the Company’s intelligent payment technology. This is an industry that has long been overdue for improvement and I believe Lucrotec’s progress in ML and RPA will transform payment automation and, more importantly, provide clients with significant results that will positively impact their bottom-line.”
Prior to joining Lucrotec, Mr. Spofford was the founding CEO of Dimension Data’s Communications Lifecycle Management (CLM) division, which annually processed billions of dollars in domestic and global communications payments for hundreds of U.S and international enterprises. Mr. Spofford will continue to serve on Dimension Data’s CLM Board of Directors. Previously, Mr. Spofford was co-founder and CEO of Xigo, a “leader quadrant” company that applied information technology to manage a complex array of telecom expenses. Xigo was purchased by Dimension Data in 2012. Mr. Spofford is a graduate of Yale University and resides with his family in Virginia.
About Lucrotec
Lucrotec is a thriving FinTech company that provides a managed payment service to its clients. Lucrotec delivers operational efficiencies for accounts payable and accounts receivable, better payment security, and vendor expense transparency. It does so without IT integration, OpEx/CapEx expenditures, or disrupting established accounts payment processes.
Additional information about Lucrotec can be found at www.lucrotec.com, requested via e-mail at info@lucrotec.com, or by calling 1.855.677.6348.