The biggest nightmare for any business is gathering invoice data from multiple sources, such as fax, snail-mail, and email, and then processing each record manually before entering them into an accounting system. Apart from being error-prone, manual invoice processing also slows down payment processes, which are most often the reasons behind eroded vendor relationships and loss of early payment bonuses. In the wake of these concerns, electronic invoicing systems have emerged as a real game-changer for accounts payable processing today. With electronic invoicing, businesses cannot just eliminate the paper clutter but also gain more visibility into payables to make well-informed decisions on their investments.
Despite the potential, most companies take a backseat in fulfilling the vision of automated, digital invoicing. “This is where compacer emerges as the ‘silver lining’ for such enterprises,” says Matthias Henn, a veteran in the financial services industry and the COO of compacer. On a mission to develop smart electronic invoicing solutions for its vast clientele, this Germany-based IT software and services company has among others dedicated itself to automating and digitalising invoicing processes.
compacer provides businesses with a unique e-Invoicing platform that harnesses the power of AI to simplify and streamline the invoicing processes.
The platform connects various applications, queries, and databases to collect data and securely transfer them to a company’s existing ERP or accounting systems. The e-Invoicing platform also enables data visualisation, forwards delivery notifications, and provides validation of the existing workflows. All these functionalities of the platform not only allow smart capturing of billing reports, transactions, and other invoicing documents but also help organisations automate purchase-to-pay or order-to-cash processes. “Through our solution, enterprises can now approve their budgets without any hassle,” says Henn.
compacer provides businesses with a unique e-Invoicing platform that harnesses the power of AI to simplify and streamline the invoicing processes
When deploying the invoicing solutions, compacer employs a consultative approach to serve more as a strategic partner than a mere software vendor. Backed by a highly motivated and competent team of integration and automation experts, the company effectively turns clients’ critical business problems into smart solutions and creates maximum value for them. “Moreover, with our managed hosting and on-premise implementation models, we offer our clients great flexibility in utilizing our digitalised offering,” adds Henn.
To offer a deeper understanding of their solution, Henn also recalls a success story of a retail company that employed compacer’s e-Invoicing platform. The company was looking to improve its processes, capture invoices digitally, and ease the task of their internal IT resources by using new technical interfaces. On approaching compacer, the team immediately took action in identifying the relevant invoicing processes to be automated and configured their e-Invoicing solution. In less than three months, compacer’s e-Invoicing solution enabled the client to speed up their invoicing processes and eliminate the paper clutter.
Surging ahead, the company now envisions keeping up with the changing digital landscape and staying ahead of the pack. compacer is now creating opportunities for its clients and partners to get the best out of new technologies like AI, blockchain and IoT. “We believe our e-Invoicing solution should not just be a digital substitution of a manual process; it should be able to extract maximum value from an organisation’s invoice data,” says Henn. With this belief, the company is now paving the path for businesses to seamlessly optimise their manual processes, create more transparency, and make invoicing processes more efficient and agile.