Procure-to-Pay: ITESOFT enhances its P2P automation solution
Digital invoices, robotisation, AI, etc. are now priority levers for financial departments seeking to improve performance and agility and to perfectly control the risks of regulatory compliance or fraud. In response, ITESOFT has released 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 financial directors wish to develop their processes with new digital tools. In response to this increasingly widespread need for digitalisation, ITESOFT has improved Streamline for Invoices. Among the new functionalities now available: digital purchasing, robotic fraud detection and the supplier portal.
Digitised purchase request for more performance
Optimising collaboration between procurement and purchasing is a key performance driver and 61% of CFOs want to see better integration of these activities.
However, while the purchase of direct or production goods is largely equipped and optimised, indirect purchases remain the poor relation of digitalisation, limiting the rate of automation of the entire Procure-to-Pay process.
With the integration of the digital purchase request within Streamline for Invoices, ITESOFT offers the simplest solution - accessible to all employees concerned - and the most adaptable - the only product on the market based on a BPMN engine - for managing the P2P process from start to finish.
The result: purchasing departments regain control of their indirect purchases and maximum performance in the automation of invoice processing.
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 fraud attempts and half of these attempts concerned fake supplier fraud. This fraud is most often hidden in the exchange of documents: falsified invoices, false transfer orders, etc.
With the new edition of Streamline for Invoices, ITESOFT becomes the only Procure-to-Pay solution that effectively meets the needs of financial departments in the fight against fraud. This is thanks to its robotic detection service for falsified documents using unique technologies developed with 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.
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.
Holder of a master's degree in Marketing and Communication and more than 5 years of experience in the B2B sector, Paola joined ITESOFT in 2020. Her great interest in new digital trends and new technologies and her close work with the sales and business development teams, have been a key factor in ITESOFT's growth in the UK.