AP Automation News: ESCO automates AP with Oracle + Unverified news release

ESCO Automates Accounts Payable with Oracle WebCenter & ImageSource

ESCO is a independent, global developer and manufacturer of highly engineered wear and replacement products. These products are used in resource mining, infrastructure, power generation, aerospace and industrial applications. Applications that are essential to the productivity of machines.

Oracle Webcenter for AP Automation

ESCO decided to optimize their Accounts Payable department and automated much of the daily invoice processing tasks. To do this ESCO decided to using Oracle WebCenter. A majority of ESCO’s invoices now go through their AP process with no manual intervention. Oracle WebCenter extracts the necessary information from their invoices and automates the data entry into their Oracle E-Business Suite Financial application Leveraging Oracle’s WebCenter invoice processing solution allowed ESCO to:

• increase the number of invoices they process annually,
• reducing resources process the annual amount of invoices
• add additional ROI to benefiting from by using Oracle WebCenter.

Image Source

Oracle Webcenter was implemented by ImageSource, a certified Oracle WebCenter partner. ESCO has benefited from ImageSource’s extensive experience in implementing imaging solutions with WebCenter.

Unverified news release

Almost every other day we receive news that some customer inks a deal with a purchase to pay, invoice processing, e-billing, e-invoicing or BPO provider.

Because we can’t verify the name of the customer (or we can but are not allowed to publish it) we don’t mention the news here. Because without name it could all be a marketing stunt. It could. But probably isn’t.

So that is why we added a new item: the ‘Unverified news release’. So here are a few:

• A major European provider of business services for finance and accounting selected Brainware Distiller for the efficient automation of invoice processing, as well as other financial documents.  The contract is valued at more than $2 million and enables the customer to capture and reconcile header and line item data from millions of pages and invoices every year.
• A UK-based global telecommunications provider has signed an agreement with ReadSoft worth EUR 310,000 to expand document and invoice automation. ReadSoft has extended an existing four-year relationship to accommodate centralisation activities and business demands in Europe for the operator.
• Three large UK-based companies running SAP selected ReadSoft to process over 600,000 invoices per year. The three contracts use ReadSoft’s specialist INVOICES and COCKPIT software within the SAP environment to automatically streamline purchase to pay processes.