Digital invoices, robotisation, AI… are now priority levers for finance departments looking for more performance, agility and perfect control of regulatory compliance risks or fraud. To respond, ITESOFT are delivering a new edition of its Procure-to-Pay solution which capitalises on the publisher’s advances in AI and process robotisation for an even more efficient, adaptable and secure solution.
According to the PWC – DFCG study “CFO Priorities for 2020”, 65% of CFOs want to evolve their processes with new digital tools. Faced with this increasingly widespread need for digitalisation, ITESOFT have improved Streamline for Invoices. Among the new features now available: digital purchasing, robotic detection of fraud, and supplier portal.
Digitised purchase request for more performance
Optimising collaboration between procurement and purchasing is an essential performance lever and 61% of CFOs want better integration of these activities.
However, while the purchases of direct or production goods are largely equipped and optimised, indirect purchases remain the poor relation of digitalisation, in fact limiting the rate of automation of the entire Procure-to-Pay process.
With the integration of digital purchase requisition within Streamline for Invoices, ITESOFT offers the simplest solution – accessible to all relevant employees – and the most adaptable – the only product on the market based on a BPMN engine – to manage the end-to-end P2P process.
The key: purchasing departments that regain control of their indirect purchases and maximised invoice processing automation performance.
Unique fraud detection functions for genuine risk control
Fraud is on the rise every year: according to the Euler Hermes – DFCG study, 7 out of 10 companies have been victims of attempted fraud and half of these attempts concerned fraud against the bogus supplier. A fraud that is most often hidden in the exchange of documents: falsified invoices, false transfer orders…
With the new edition of Streamline for Invoices, ITESOFT becomes the only Procure-to-Pay solution that effectively meets the needs of finance departments in the fight against fraud. This is thanks to its robotic detection service for falsified documents using technologies unique in the world developed with French laboratories:
- Systematisation of document and data controls
- Controls carried out a priori i.e. upon receipt of the document, therefore before payment
- Combination of exclusive image analysis algorithms (graphometry, AI, etc.) and internal and external data consistency checks (amount, IBAN, SIRET, intra-VAT, etc.).
The collaborative portal to manage and secure supplier relationships
The tightening of regulations – payment deadlines (pact law), the fight against undeclared work (obligation of vigilance) – has made improving supplier relations more strategic than ever.
In order to make this relationship more efficient and more collaborative, ITESOFT integrates a collaborative supplier portal including SRM (Supply Relationship Management) functions: submission of supplier documents and electronic invoices online, referencing, management of contracts and legal documents, sourcing and supplier evaluation…
Frédéric Massy, Marketing Director ITESOFT indicates:
« Many organisations such as LIDL, Nothingham University Hospitals NHS, Oxford Health, Network Rail, Coop Atlantique, Brinks… have chosen Streamline for Invoices. With this new edition, ITESOFT continues to invest in AI and robotisation to provide more value to its customers in the digitalisation of their supplier processes. »