ReadSoft has brought XBOUND, its large-scale automation solution, from Europe to North America with its first enterprise sale of the BPO solution to DISC Corporation, a Missouri-based, USA, document management service provider in the healthcare sector. The agreement was signed in the second quarter of 2013, and estimated annual revenues from the BPO/Service Bureau provider contract are expected to be a million dollars per year.

DISC Corporation has over 55 years of experience as a service provider to the healthcare sector, specializing in the digitization of patient records for ambulatory care providers into their respective Electronic Health Records (EHR) systems. To deliver the BetterChart solution, the organization automates the end-to-end process of the document type classification and data capture of its clients’ patient records, affording its clients invaluable time and the necessary tools to continue to grow comfortably. But to meet existing service level agreements with its clients, DISC initially hand-keyed this information to ensure document type and patient record information were captured and processed in a timely fashion.

Together with ReadSoft, the service provider has eliminated the need to manually key its business-critical data entry function and can continuously increase its document volumes while retaining the same number of staff. As a robust central solution platform, XBOUND leverages automatic classification and indexing to standardize incoming information and initiate document-driven processes. The solution allows DISC to rapidly onboard new BetterChart customers via a flexible, pre-configured design tool (Process Designer), which is inherent to XBOUND.

“ReadSoft’s newly acquired XBOUND technology will prove to be a winner in the BPO space with its ability to onboard new clients rapidly while handling high volumes and multiple document types,” said Patrick Karpen, President of DISC Corporation. “We are eager to leverage this technology in our existing service offering and realize the tangible benefits of a solution that supports our long-term growth.”

Click here to view the entire ReadSoft press release.

Download a complimentary copy of PayStream’s report titled The Road to Financial Shared Services to learn more about ReadSoft’s solutions.  The report includes a detailed profile on ReadSoft and their solution functionality.

Basware, a provider of e-invoicing and purchase-to-pay solutions, is unlocking the full potential of automated invoice handling for SMBs with the worldwide release of a mobile client for InvoiceReady™.

With the inclusion of a mobile client to support the invoice handling process, small and mid-sized businesses can significantly reduce invoice cycle times by reducing the bottlenecks in the financial process that often mean late payment fees or missed discount opportunities. Through InvoiceReady™ Mobile, users will be able to easily and simply process purchase invoices, travel plans, travel and expense claims, contracts and requisitions from their mobile devices, no matter where they are.

Basware’s SMB Finance research, conducted earlier this year, revealed that the average small business employee spends nearly 17 hours a month on financial processes, equating to two full working days on activity unrelated to their role. By being able to review, approve, and reject invoices or designate them as pending and add comments with a few clicks on a touch screen device can dramatically cut this time, allowing small business owners to focus on the core business.

Because the new mobile interface is built on the HTML5 standard, it can be accessed through almost every modern smartphone and tablet, regardless of make or operating system.

In addition to the rollout of mobile functionality, Basware has added new features to InvoiceReady™ and enhanced the user experience. The new consumer-style user interface brings a refreshed color scheme, new icons and best-practice ergonomics developed with close consultation with users around the world.

Additionally, payment feedback can now be imported from a user’s payment system to add the actual payment date to the purchase invoice and travel claim history. Improvements also have been made to the contract and procurement module to enhance usability for contract creation, archive browsing and reporting, as well as improving the interface tool capabilities for seamless integration to legacy systems.

Click here to view the entire Basware press release.

Solution providers are making mobile functionality a robust feature that allows invoices to continue to move through the system while users are on the go.  To learn more about invoice automation and mobile functionality, download one of PayStream Advisors reports by accessing our research vault.

Download a complimentary PayStream report to learn more about Basware’s solutions.  Basware has underwritten a number of PayStream reports that include a detailed Basware profile, including:

• Electronic Invoice Management: Going with the Workflow
• Healthcare ePayables: Turning AP into a Paper Free Environment
• Automating Payables for the SME Market

Esker, a leader in document process automation solutions, recently announced a 21 percent increase in 2011 sales growth of its sales order processing solutions. This upsurge, particularly significant in the United States, confirms the increasing importance of customer orders in business document process automation.

Automated processing is typically associated with customer and vendor invoices; however, the management of customer orders represents a valuable opportunity for today’s businesses. Faced with a multitude of reception modes (e.g., fax, email, postal mail, Web, EDI, etc.), order processing has become more and more complex, despite being a critical process for customer satisfaction, commitment, revenue and competitive advantage.

2011 was an outstanding year for Esker Sales Order Processing automation solutions:

• Sales grew 21% versus 2010 — 28% of which was in the United States
• Strong customer portfolio — BASF, Kimball, Medrad, Siemens, Systagenix and Whirlpool trust Esker to automate their customer orders
• Customers in the medical industry and business-to-business distribution, two sectors significantly impacted by sales order processing, contacted Esker for help managing their customer orders

Benefits of automating customer orders

By eliminating manual data entry, sales order automation delivers an immediate return on investment (ROI):

• Improved order processing: automatic assignment and order creation with fewer errors
• Traceability: visibility of orders waiting to be entered and eradication of lost orders
• Productivity gains: elimination of order entry time
• Improved customer service and SLA compliance: orders processed quicker and according to priority levels; improved delivery times
• Improved cash flow and working capital through accelerated cash receipts
• Decreased document storage costs with electronic archiving

Click here to view the entire Esker press release.

Last week PayStream received a briefing from Esker on their Sales Order Processing solution.  PayStream believes the market is hot for such solutions, as organizations search for innovative ways to streamline customer orders.  Sales Order Processing solutions work to automate every phase of the sales order processing – from the reception of a customer document to the creation of a corresponding sales order in your ERP system.

Stay tuned for more on Sales Order Processing solutions.

Taulia Inc., the market-leading SaaS platform for dynamic discounting, recently announced that the world’s largest online shoe retailer has selected Taulia as its invoice automation and dynamic discounting solution provider.

The online footwear and apparel leader was looking for a solution that would seamlessly integrate into their existing ERP system, increase productivity, lower costs and allow them to capture early payment discounts in exchange for paying their suppliers early. Taulia’s comprehensive platform gives this major online retailer more visibility and control over the invoice approval process while reducing their payment cycles and saving them millions annually.

Bertram Meyer, CEO of Taulia, said “Our platform offers this global organization the flexibility and scalability that is needed as it continues to broaden its product offerings. In addition to lowering operational expenses, the commerce site can look forward to increased organizational efficiencies, instant access to information and an immediate return on investment.”

Taulia’s cloud-based offering is that it is completely free for suppliers to use, ensuring a robust supplier adoption rate. Among its many features, including Supplier Self Services, real time buyer-supplier collaborative messaging and Supplier Information Management (SIM), the web-based solution provides integrated eInvoicing – a particularly valuable asset for organizations looking to reach 100% electronic invoicing.

Click here to view the entire Taulia press release.

To learn more about Taulia’s solution, download a copy of PayStream’s 2013 Dynamic Discount Management: Moving Toward Mainstream report.  The report includes a detailed Taulia profile and case study.

TRADESHIFT recently announced a partnership with Invoiceware International, a provider of Latin America-compliant e-invoicing technology and cloud services.

Guaranteeing compliance, supporting domestic and cross border invoicing, and providing automated three-way match to validate documents — TRADESHIFT and Invoiceware International deliver solutions to the problems Latin American businesses and multinationals face today.

The partnership allows enterprises on the TRADESHIFT platform to take advantage of the validation and compliance technology provided by Invoiceware International. With Latin America being well known for its complex and often intimidating business regulations, the deal signals another great step forward in the right direction for TRADESHIFT and their vision of connecting every business on the planet.

These complex, ever changing rules not only affect companies based in Latin America, but also those multinationals that seek to conduct business in these countries. The TRADESHIFT and Invoiceware International partnership provides a seamless solution by ensuring invoices exchanged with companies in these countries meet and abide by the regulations set forth.

There is a compulsory mandate to use e-invoices in Brazil, Mexico and Argentina with other countries following suit soon. If not compliant, the government can shut down operations, levy significant fines, and raise criminal charges against the management team. The partnership between TRADESHIFT and Invoiceware International is setting the standard for compliance in a region of the world that is strategic to every multinational.

Click here to view the entire Tradeshift press release.

Download PayStream’s 2013 Global Electronic Invoicing: The State of AP Automation Worldwide, to learn more about Tradeshift.  The report includes a detailed Tradeshift profile.

ABBYY, a leading provider of document recognition, document capture, and linguistic technologies and professional services, recently introduced reseller partners to several new company initiatives. Resellers from throughout the U.S., Mexico and Taiwan gathered at ABBYY’s Technology Summit to gain insight into ABBYY’s data capture solution roadmap; discuss new initiatives and learn more about the updated ABBYY partner program. Attendees were also given in-depth overviews on ABBYY’s new mobile capture solution and Invoice Accelerator, as well as enhancements designed to make integration with ECM, ERP and other line-of-business applications easier.

The ABBYY Technology Summit provided opportunities for attendees to learn about the company’s mobile capture solution and new Invoice Accelerator, identifying new revenue prospects for partners. ABBYY’s mobile capture solution allows VARs to extend FlexiCapture functionality by capturing documents with mobile devices, enabling documents to remain in the same workflow and process as if they had been captured using a traditional scanner. Leveraging ABBYY’s mature mobile technology, the mobile capture solution enables VARs to expand their offerings to customers with out-of-the-box mobile solutions. ABBYY’s Invoice Accelerator answers customer demand for invoice capture products with quicker time-to-value. It is optimized to support out-of-the-box data extraction for invoices, regardless of layout. This makes it easier for partners to offer invoice processing services to their customers, creating recurring revenue opportunities.

Click here to view the entire ABBYY press release.

To learn more about ABBYY’s solution, download a complimentary copy of PayStream’s report Healthcare ePayables: Curing Inefficiencies in the Healthcare Payments Market.  The report includes a detailed ABBYY solution profile.

HighRadius Corporation, a provider of order-to-cash optimization solutions for SAP systems, recently announced the release of their new electronic payment processing solution for SAP business applications – Payments OnDemand. Payments OnDemand enables merchants to provide additional payment options to their customers – among them credit cards, debit cards and electronic checks. Without such electronic payments, merchants are limited to paper checks and cash payments which increases DSO and raises risk of collecting on open receivables. Additionally, the manual processing required for reconciling paper check payments to open invoices for small accounts increases administrative overhead and cost of cash application. The new entry complements HighRadius’ extensive list of offerings that enhance and optimize native SAP Receivables Management functionality, including Biller Direct and Collections and Disputes Management.

Unlike other vendor solutions, Payments OnDemand leverages major processors’ security and tokenization to optimize security and provide a quick upgrade to the latest enhancements in privacy protection. This model transfers the risk of losing customer credit card numbers from HighRadius’ customers to the businesses best equipped to control it and manage such data – the payments processors. The system is fully PCI-DSS-compliant.

Payments OnDemand is available as a SaaS solution which means a quick configuration is all that is needed to connect to preferred payments processors. A thin, native SAP component further minimizes deployment time and cost by providing an SAP-Certified integration at minimal cost.

Click here to view the entire HighRadius press release.

To learn more about HighRadius, download a complimentary copy of PayStream’s report titled Revenue Cycle Management:  Moving Toward a Paperless AR Organization, which features a detailed HighRadius profile.

Stay tuned for PayStream’s upcoming SAP report that is slated for publication in early June.

BirchStreet Systems, Inc., a provider of procure-to-pay (P2P) solutions to enterprises around the world, announced the launch of Spend Intelligence Toolset, the company’s newest product to complement its P2P platform. The Toolset is designed to provide regional or global enterprises with instant insight into their organizational spend, thereby helping these companies find opportunities to save.

Combining new analytical software with a new data mapping and analytics service, the solution provides spend intelligence on a global, national or regional scale with drilldown capability to the brand, property, department, item or category level – across manufacturers and distributors. The Toolset includes a series of interactive drilldown dashboards, graphs and several new reporting options, allowing users to drill down to specific items and quickly zero in on significant patterns of off-contract spend.

The Toolset’s spend intelligence capabilities give customers the ability to extract more savings out of their existing supplier contracts, perform vendor and item consolidations, or find opportunities for new supplier agreements. The Toolset also provides important data to assist with aggressive vendor negotiations, helping users to accurately calibrate volume commitments, as well as monitor property and vendor compliance.

While optimized to use spend data from BirchStreet’s e-Procurement system, the Toolset can also analyze spend data from other sources, including supplier consumption reports and third-party systems.

Click here to view the entire BirchStreet press release.

More about BirchStreet’s solution can be found in the upcoming Electronic Procurement report that is slated for publication in early June.  Be sure to mark your calendar to check back for the report, which will include a detailed BirchStreet profile.