Press Release Summary:
With Esker on Demand Accounts Payable Automation, only scanner and Internet connection are required to automate vendor invoice processing. Invoices are scanned and sent to service where all data is extracted, then are available for validation via secure Internet web page. Once Accounts Payable specialists or other users verify data and add necessary coding information, invoice is routed to buyer for approval. Invoice image is automatically archived and indexed for future reference.
Original Press Release:
Esker Launches New SaaS Solution to Automate Vendor Invoice Management
Esker on Demand Accounts Payable Automation requires only a scanner and a simple Internet connection to eliminate manual processing of vendor invoices
Vendor invoice processing is the first of a set of specific On Demand solutions that we are currently developing with the support of OSEO* that will be launched throughout the course of the year, centered around business management processes including electronic invoicing, customer sales orders and purchase order management
Lyon, France - March 16, 2009 -- Esker, the leader in document process automation solutions, today announced the release of its new SaaS (Software as a Service) solution for management of vendor invoice processes. As an alternative to the traditional software approach, this solution eliminates the need for companies to finance, install and maintain software and hardware. With Esker on Demand Accounts Payable Automation, a scanner and a simple Internet connection are the only requirements to completely automate vendor invoice processing.
Recent market research has found that about 80% of vendor invoices are received in paper format, indicating that a large majority of companies are still tied to manual processing of vendor invoices. While businesses recognize that these inefficient processes inflate costs, limit productivity (as a consequence of manual entry, approval sign-offs, filing, and other tasks) and create the risk of errors resulting in payment delays, many companies perceive the cost and complexity of traditional software solutions as barriers to automation.
Developed to make automation benefits easily accessible, and to lighten the load for those in Finance, Accounting and Purchasing departments who handle invoices, this new service takes an innovative approach to automation of vendor invoice processing from capture to payment. The service is based on a pay-per-document model and places a complete business application in the hands of the user without the drawbacks of traditional software, offering simple and fast implementation, low cost of acquisition and immediate return on investment.
Esker on Demand Accounts Payable Automation includes the following features:
Data capture: Invoices are scanned and sent to the Esker on Demand service where all data is extracted, then the invoices are available for validation via a secure Internet web page.
Data verification and payment approval workflow: Accounts Payable specialists or other users verify the data captured and add necessary coding information. The invoice is then routed to the buyer for approval according to predefined routing rules relating to the vendor, the amount or cost center concerned.
Archiving: The invoice image is automatically archived and indexed for future reference.
Integration: Invoice data and payment information are passed or made available to the ERP system as an XML, text, or CSV file.
Audit and reporting: The solution ensures traceability of every invoice along with all actions that touch the validation and approval process.
"This solution is the result of leveraging the Esker DeliveryWare process management automation platform combined with expertise in developing Esker on Demand and FlyDoc solutions, which are today used by over 3,000 companies worldwide. With this new SaaS offering we are helping companies eliminate paper from their business processes, reduce vendor invoice processing time and costs, and improve payment cycles," says Jean-Michel Berard, CEO of Esker.
Document process automation on demand and perfectly aligned with the Esker strategy
This new Accounts Payable Automation solution expands Esker's SaaS offering of Esker on Demand and FlyDoc services enabling companies to automate document process management.
"Vendor invoice processing is the first of a set of specific On Demand solutions that we are currently developing with the support of OSEO* that will be launched throughout the course of the year, centered around business management processes including electronic invoicing, customer sales orders and purchase order management," concludes Berard.
With SaaS solutions available worldwide, Esker has positioned itself since 2005 as one of the leading developers of On Demand document automation solutions. In 2008, SaaS represented 26% of total sales revenue. Esker's worldwide production platforms efficiently handle and process 60 million pages each year while serving more than 25,000 users from companies as diverse as 1-800 Flowers.com, Alcan Composites, Inc., BainUltra, Euler Hermes, Fenwick, Manpower, Microsoft, Samsung, State Industrial Products and many more.
More information is available at: apondemand.com
*Esker obtained two interest-free loans from OSEO totaling 1 million euros to develop a global On Demand offering that spans processing of incoming documents such as sales orders and vendor invoices, as well as outgoing documents such as customer invoices, reminder letters and purchase orders.
Esker is a recognized leader in helping organizations eliminate manual processes, gain process visibility and control, and reduce the use of paper by automating the flow of documents into, within and out of the organization. With patented document delivery automation software and hosted document delivery services, Esker offers a total solution to automate every phase and every type of business information exchange. Customers achieve significant and immediate operational efficiencies, cost savings and measurable ROI in as little as three to six months. Founded in 1985, Esker operates globally with more than 80,000 customers and millions of licensed users worldwide. Esker has global headquarters in Lyon, France and U.S. headquarters in Madison, Wisconsin. For more information, visit www.esker.com.
Renee Thomas, Esker Inc.
Email: renee.thomas (at) esker (dot) com
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