Medius acquires Ascendo, adding 500 customers to its portfolio

October 2, 2013  |  Europe, Invoice Automation, Merger, Acquisition, Funding  |  Comments Off

Medius AB has acquired the assets and bankrupt’s estate of the Swedish procure-to-pay and invoice process provider Ascendo Systems AB. The deal covers Ascendo’s assets and Medius acquires Ascendo’s products, competence and customer base with more than 500 satisfied customers.
The acquisition is in line with Medius’ growth strategy and strengthens their position on the Swedish market.The business will be managed from Ascendo’s office in Östersund, from which solutions and customer relationships will continue to be supported, maintained and developed.

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Imperial College renews OB10 contract to achieve 100% e-Invoicing

Imperial College renews OB10 contract to achieve 100% e-Invoicing

September 20, 2013  |  Adoption, Electronic Invoicing, Invoice Automation  |  Comments Off

The university builds on 95% straight-through invoicing processing with OB10. The aim is to receive all invoices electronically. As part of its contract renewal process, the Financial Services and Procurement team ran a competitive review of invoice-automation services – including e-Invoicing platforms and scanning tools – that positioned OB10 at number one.
Imperial College has already converted 70% of its invoices to electronic with OB10, and has a 95% straight-through-processing rate, where invoices enter its financial system without manual intervention. To help achieve 100% e-Invoicing, suppliers can now turn purchase orders into invoices through OB10’s PO Convert service.

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EDI: bright past, how about the future? A fenix in disguise?

September 18, 2013  |  Electronic Invoicing, Featured Articles, Invoice Automation, Standards  |  Comments Off

EDI (Electronic Data Interchange) is a document standard that is typically used in supply chain for exchanging purchase orders, order confirmations and invoices. Another field is logistics, for example third party logistics providers (3PL) and transportation.
Despite of this wide usage, quite often during last decade it has been predicted that EDI will die. To be more specific - EDIFACT will die and XML based EDI standard will take its place. What are the trends and expected changes in the EDI-world? Is EDI a fenix in disquise? Itella Information shares their experience and predictions.

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Top Image Systems signs major AP automation deal with Mul-T-Lock

September 10, 2013  |  Digitalisation, Invoice Automation  |  Comments Off

Mul-T-Lock is deploying TIS's eFLOW5, the latest release of the company's flagship eFLOW® platform, to implement a capture-enabled purchase to payment workflow solution that will process thousands of invoices each month. The installation of the solution scheduled for October this year is part of a company-wide plan to automate processes and improve efficiency.
In accordance with Mul-T-Lock's specifications, eFLOW INVOICE will scan incoming invoices, forward them to the workflow and approval process and then deliver the invoices for posting to the SAP ERP system. The solution will also enable end-to-end fully automated invoice processing and seamless SAP connectivity.

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Top Image Systems wins major European Digital Mailroom contract

September 10, 2013  |  Digitalisation, Invoice Automation  |  Comments Off

Top Image Systems, won a six-figure eFLOW Digital Mailroom contract at a Central Bank in Europe; the bank is fully owned by the federal government and plays an integral part in both the European System of Central Banks (ESCB) and the Eurosystem.
The bank chose the eFLOW(R) mailroom automation solution to manage its current volume of some 300,000 documents per year. The prestigious financial institution selected eFLOW because of its high-performance, multiple-OCR/ICR-engine recognition platform and because of its open architecture and scalability. In future, the Bank aims to employ eFLOW to process its financial statements and to implement the eFLOW INVOICE solution for automated AP processing.

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BREAKING: Tungsten acquires OB10 (valued at £99m) and buys a bank too!

Tungsten Corporation has agreed the conditional takeover of OB10 for £99m in cash and shares. Tungsten also signed a five-year rolling licence agreement with @UK plc to deploy its analytic software technology to enable TungstenAnalytics to be delivered across -now- Tungsten's global e-invoicing network.
And Tungsten has another trick in its sleeve. It also decided to acquire an identified duly authorised UK bank, whose assets solely comprise short term UK gilts and/or certificates of deposit and to seek admission to trading on AIM.

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Accolade Wines automates its AP, selects Basware InvoiceReady

September 4, 2013  |  Invoice Automation, North America  |  Comments Off

Accolade Wines will deploy InvoiceReady to automate the more than 10.00 invoices processed annually. Additionally, Accolade Wines implements Basware’s scan & capture service to convert supplier invoices to e-invoices. That way the company can process all invoices electronically regardless in which format they are received. Accolade Wines is also going to implement InvoiceReady Mobile. Recently announced by Basware, InvoiceReady mobile enables the company’s employees to review and approve tasks anytime and anywhere from their mobile devices like Iphones, Ipads and Android-phones. These solutions, to be implemented in the U.S. and other regions globally, enable Accolade Wines to eliminate inefficiencies, while gaining visibility and control over its financial commitments.

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Saint-Gobain enhances Accounts Payable Operations with Palette

August 27, 2013  |  Europe, Invoice Automation  |  Comments Off

Gobain decided tot enhance its accounts payable operation. The solution was supplied and configured by Palette's partner, Simac Document Solutions, a leading integrator and service provider in Benelux. With five independent divisions and 1700 employees working across 56 outlets throughout the Netherlands, Saint-Gobain wanted a solution that could streamline accounts payable processes across the group, and simplify workflow for staff while giving complete visibility and auditability of its financial position.
PaletteInvoice integrates with Saint-Gobain’s ERP system to provide an up-to-date view of the company’s active invoices and open purchase orders resulting in more efficient financial analysis and oversight.

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Top Image Systems files patent for Google Glass capture and recognition

August 7, 2013  |  Digitalisation, Invoice Automation, Research  |  Comments Off

Even while the Google Glass is still in its development stage, Top Image System has filed a patent for using it as a scanning and capture application, called GlassCapture.
GlassCapture should enable users to capture documents by means of snapping images of the documents using a wearable computer such as Google Glass and then recognizing and processing the documents. GlassCapture will aid users to make decisions based on the captured documents and related information retrieved during document processing.
There is a chance that GlassCapture will bring about a paradigm change in how people interact with documents. With this product, the market trend towards empowering the remote workforce will progress dramatically, according to Isaac Rome, Vice President Global Banking and Mobile, Top Image Systems.

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PaletteOnline streamlines global invoice processing for VOSS Water

August 7, 2013  |  Invoice Automation  |  Comments Off

VOSS, is a Norwegian bottled water company and headquartered in New York. It will use PaletteOnline to automate checking, authorisation and processing of the approximately 20,000 invoices it receives every year. And to create a secure, paperless processing and archiving system across its organisation.
As PaletteOnline is a cloud solution, it enables staff who are authorised to approve invoices to securely access their workflow from smartphones or any device with an internet connection. This simplifies accounts payable processes and eliminates the paper-trail between offices, enabling staff to check, approve and produce reports on their invoice workflow from almost any location.

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