Esker Acquires American Cloud Company TermSync

TermSync’s collaborative platform reinforces Esker’s Accounts Receivable solution for U.S. customers and paves the road for future Esker solutions.

Sydney, Australia — January 29, 2015 — Esker, a worldwide leader in document process automation solutions and pioneer in cloud computing, today announces the acquisition of TermSync™, a cloud-based accounts receivable (AR) platform.

Based in Madison, Wisconsin, which is also home to Esker’s U.S. headquarters, TermSync develops and markets an innovative, collaborative portal enabling businesses to modernise their AR processes. Fully developed on cloud-based technology, TermSync optimises invoice management by reducing costs, accelerating payments and reducing DSO (Days Sales Outstanding). Today, TermSync connects thousands of companies on its network, including the U.S. National Association of Credit Management (NACM), which has selected the solution as a preferred partner.

Following the success of an intense development and market validation phase, but with limited resources, TermSync was looking for a strategic partner to support its commercial development throughout the U.S. At the same time, Esker sought to strengthen the capabilities of its existing AR solution in order to meet the expanding needs of U.S. companies. Combined, Esker’s Sales and Marketing capabilities and TermSync’s platform will generate growth for their respective offerings.

Beyond the operational aspect, Esker will build on TermSync’s experience and technologies to enhance the collaborative aspect of all its solutions.

Tracking the health of your Accounts Payable process

Accounts Payable healthHealth, and more precisely, measuring your health, is the new craze. With Microsoft recently launching its new tracking wearable device Band, people can track and measure dozens of parameters related to their activities and their health. Already most runners and cyclists use applications such as RunKeeper and Strava to track, measure, map and analyse their runs and rides. And then there is the social aspect of sharing your data with your friends as these applications also come with a Facebook style website where you can follow other people, share your data, compare your activities and performance against yourself and others, and even share pictures.

So how does this trend impact the traditional Accounts Payable (AP) process? Clearly paper-based AP processes do not allow for much tracking and measurement. Of course, one could manually and painfully record the date of reception of a paper invoice and the date when the invoice data was entered into the company’s ERP and by whom. Similarly one could record the time it takes for each invoice to complete the coding and approval workflow. Although some tracking and measurement are possible, barely any company invests time and resources to do so with their paper-based AP processes.

Since the Global Financial Crisis companies have focussed on cost reduction as growth has significantly slowed down in many industries. Those companies reviewed many of their internal processes and targeted their back office operations that involved plenty of manual and paper-based processes.

Accounts payable automation solutions help reduce operational costs via improved productivity of AP officers, the elimination of manual processes, the introduction of digital workflow and electronic archiving.

Digitalised business processes provide the perfect conditions for on-going tracking and measurement of the ‘health’ of the processes. Since each step, each activity is automatically recorded by the software solution then this data can be made available through dashboards and reports.

No need to equip all AP officers with a Microsoft Band though. An AP automation solution constantly tracks and measures all AP key performance indicators (KPIs) and provides the data via dashboards for real time monitoring of the AP process and reports for in-depth analysis.

Moving from a manual and paper-based AP process to a digitalised and automated AP process creates the opportunity for management to implement clear KPIs for AP officers and for the overall AP process. And since it is well known that ‘you can’t manage it if you can’t measure it’, then the new capabilities of tracking and measuring KPIs allow management to drive further productivity and business process efficiency. It’s no coincidence that the highest performing AP departments are exceptional in the very areas that automation is known to improve.

Here are some KPIs typically used to track the health of your AP processes and the benefits you can achieve. These KPIs are time consuming to measure in a manual paper-based AP process and readily available with an automated AP solution:

  1. Measure the number of invoices processed by each AP officer. This metric can change significantly after automating your process. It also helps identify any further training need.
  2. Measure the processing cost of each invoice. Start to add up such costs for just one invoice, and you have yourself one expensive AP process.
  3. Measure the timeliness of your payments. You want to have a good relationship with your vendors so that you can be in a good position to negotiate, get discounts and avoid penalties.
  4. Are you entitled to any discounts for early payments? Then measure your captured discounts.
  5. Measure your level of automation already implemented. Sorry, email doesn’t count as automation…
  6. How many invoices do you pay twice or multiple times? With automation, this figure will be down to zero.
  7. Calculate the percentage of duplicate invoices received (and hence not processed twice and, more importantly, not paid twice).

After assessing the health of your current AP process with these 7 KPIs, you might want to improve them by automating your AP process. As you follow the way to automation, you will be able to use this first assessment to measure your progress. Indeed, you can compare your KPIs before automation and with automation. Dashboards and reports integrated in your AP automation solution will help you do so.

DashboardsDashboards provide every user (AP officer, AP Manager, Finance Director, CFO) with readily available information needed to perform their daily tasks, monitor performances, and spot problems or opportunities as soon as they arise, making every action smarter and more effective.

Users can effortlessly access the right information when they need it. Packaged KPIs and dashboards remove headaches for IT. Based on best practices and industry standards, these metrics perfectly meet the needs of AP workflow users.

Looking for additional, more specific indicators? Choose a solution with an easy-to-use interface that allows you to choose what you want to display and to which user or profile. And, you are free to remove, edit or add other indicators to your dashboards. Reports can be run or scheduled to see how many pending invoices are waiting to be processed and how much cash they account for. Vendor invoices reports (e.g., invoices pending approval, invoices by status, number of invoices processed by full-time employees, etc.) can be run from the interface, along with the option to build your own reports.

You can also automatically provide regular reporting to managers. You only need to define when, at what frequency, and to whom a report needs to be automatically emailed. Remember, “If you can’t measure it, you can’t manage it.”

These 7 essential KPIs, combined with dashboards and reports, will help you effectively manage your Accounts Payable processes.

www.apinthecloud.com.au

Esker’s Accounts Receivable Solution Helps Companies Meet Requirements of the European Directive on E-Invoicing in Public Procurement

Sydney, Australia — January 12, 2015 — Esker, a worldwide leader in document process automation solutions, is pleased to announce the launch of an enhanced service which will help companies comply with mandates for e-invoicing when working with public authorities throughout Europe. Following the April 2014 directive on e-invoicing and public procurement (2014/55/EU), vendors will be obligated to send e-invoices to public administrations in all European countries by 2020. This directive will deliver significant savings for the country governments and advance the e-invoicing market.

Esker’s Accounts Receivable automation solution is capable of processing the different e-invoice formats used throughout Europe (e.g., Facturae in Spain, Fattura-PA in Italy and EDI UBL in France), as well as communicating with the platforms of each public administration to send e-invoices and receive error notifications.

Since January 1, 2012, suppliers have had the option of sending e-invoices to French government ministries. The new directive eliminates this choice for the public sector (including local authorities and public institutions), making e-invoicing mandatory by 2017 for large accounts and 2020 for small to mid-sized businesses. Similarly, in Spain and Italy, all invoices sent to public sector must be e-invoices — by January 2015 in Spain and March 2015 in Italy.

“Esker is a key player in the document process automation market, sending 25 million invoices annually for 11,000 customers worldwide,” said Eric Bussy, Director of Marketing and Product Management at Esker. “Our Accounts Receivable automation solution has been developed to meet the specific e-invoicing needs of companies working with the public sector, and we are well prepared to accompany them in their move to e-invoicing.”

Esker Acquires CalvaEDI and Strengthens Its Position in Electronic Data Interchange (EDI)

Sydney, Australia — January 8, 2015 — Esker, a worldwide leader in document process automation solutions and pioneer in cloud computing, today announces the acquisition of CalvaEDI, the leading French company specialising in computer-based communications in the EDI Transport and Logistics sector.

A Strategic Acquisition

Since its creation in 1997, CalvaEDI has been one of the leading companies to popularise EDI technology in France. By choosing to build its development entirely on recurring revenue related to the use of its platform, CalvaEDI inaugurated a new economic model, very similar to that of cloud-based computing. Similar to Esker, CalvaEDI was able to focus on customer needs rather than technical aspects. Over the years, the company has developed a suite of services specialised for the transportation and logistics market, and has since become the leader in this sector in France.

Based in Paris, CalvaEDI grew sales revenue by more than 5% in 2014. The acquisition represents immediate growth to Esker’s financial performance, given the strong recurring revenue, sound cost structure and high profitability of CalvaEDI. Integration synergies will further strengthen the financial benefits of the merger.

To demonstrate their confidence in the success of the CalvaEDI and Esker alliance, the selling shareholders have committed to a two-year lockup plan for the Esker shares they will receive as compensation for the deal.

EDI at the Core of Intercompany Communications

For over 30 years, EDI has allowed businesses to automatically transmit business information (e.g., orders, invoices, shipping orders, etc.), significantly reducing costs, while increasing the reliability of the data exchanges.

Until now, for reasons related to implementation challenges, EDI has primarily benefited very large companies operating in industries with very high volumes and integration levels (e.g., retail, automotive, chemistry, etc.). The Internet, together with legislative and regulatory changes on the exchange of invoices in the public and private sectors in Europe, makes EDI an essential component of any businesses’ document process automation strategy.

Esker believes that EDI will increasingly complement technologies typically implemented by customers in their automation projects. The company plans to open up the use of these technologies to smaller businesses and to companies in other industries, both through targeted acquisitions and agreements with technology partners.

Light Integration

Given its strong leadership position in its market, CalvaEDI will continue to operate under its own name as a separate entity from Esker. New services will gradually be jointly developed in order to accelerate CalvaEDI’s growth and to offer Esker customers, particularly those who have automated the order-to-cash cycle, the benefit of EDI technology integration.

The transaction is subject to usual audit procedures and is expected to be finalised by April 2015.

About CalvaEDI

CalvaEDI is the leading French company specialising in computer-based communications in the EDI Transport and Logistics sector. Since its creation in 1997, the company has pursued a strategy of developing gateways between the different computer systems of its customers and those of their partners in order to facilitate the transmission, security and traceability of data. CalvaEDI is based in Paris, France and services over 300 customers.

United Pacific Industries Goes Live with Esker’s Order Processing Automation Solution

Sydney, Australia — January 7, 2015 — Esker, a worldwide leader in document process automation solutions and pioneer in cloud computing, today announced that United Pacific Industries, an American manufacturer of heavy-duty truck accessories and classic car and truck parts, has gone live with the automation of its order entry process. United Pacific is leveraging Esker’s Order Processing automation solution to help process orders faster, handle growing order volumes without adding headcount and free up time for its staff of Customer Service Representatives (CSRs) to call customers. The solution was implemented via Esker’s cloud platform to help reduce overall costs and IT complexities.

Esker was selected based on its robust experience in the order processing arena as well as its solution’s ability to seamlessly integrate with Microsoft Dynamics NAV ERP software. United Pacific currently processes over 200 orders per day (6,000+ orders per month) from its California distribution centre. Due to the company’s increasing amount of drop shipment requests, approximately one-fourth of those orders used to be typed into the ERP system. As a result, United Pacific had to hire additional CSRs to perform these manual tasks — something they’re hoping to alleviate with Esker.

Paul Lin, Chief Financial Officer at United Pacific is excited about the impact Esker will have on the company’s order management process, saying: “Orders will now get to the warehouse quicker and be shipped and received by customers in a shorter amount of time. Esker has the capability to read, extract and automatically input the order data into our Microsoft Dynamics NAV system, allowing us to reduce the amount of resources needed to process orders and free up CSRs to call customers versus typing orders.”

About United Pacific Industries

United Pacific Industries is an American manufacturer of heavy-duty truck accessories and classic car and truck parts. With over 30 years of industry experience, United Pacific understands the rigors and stresses that its products are subjected to on the road, and is dedicated to providing today’s drivers with innovative and exciting products that deliver exceptional performance and value. United Pacific carries over 20,000 items in its California distribution centre.

Esker Receives 2014 Cloud Computing Product of the Year Award

Sydney, Australia — January 6, 2015 — Esker, a worldwide leader in document process automation solutions and pioneer in cloud computing, announced today that TMC, a global, integrated media company, has named Esker on Demand as a 2014 Cloud Computing Product of the Year Award winner.

The Cloud Computing Product of the Year Award, presented by Cloud Computing magazine, honours solution providers with the most innovative, useful, and beneficial cloud solutions and services that have been brought to market during 2014.

“When it comes to document process automation, cloud technology offers key competitive advantages in terms of IT simplification, scalability and ROI, and accomplishing more with less,” said Steve Smith, U.S. Chief Operating Officer at Esker Americas. “Receiving the Cloud Computing Product of the Year Award from TMC is a great honour, and a testament to the success of Esker on Demand in helping organisations of any size easily achieve these benefits.”

Esker on Demand is a cloud-based document process and information exchange service that enables companies to automate the processing and exchange of critical business documents, such as customer invoices, supplier invoices, customer orders, etc. Ten years after its launch, Esker on Demand’s global network of production facilities now serves over 5,000 customers worldwide, recently achieving the impressive milestone of over one billion pages processed.

“Recognising leaders in the advancement of cloud computing, TMC is proud to announce Esker on Demand as a recipient of the Cloud Computing Product of the Year Award,” said Rich Tehrani, CEO at TMC. “Esker is being honoured for its achievement in bringing innovation and excellence to the market, while leveraging the latest technology trends.”

About TMC

TMC is a global, integrated media company that supports clients’ goals by building communities in print, online and face to face. TMC publishes multiple magazines including Cloud Computing, M2M Evolution, Customer and Internet Telephony. TMCnet is the leading source of news and articles for the communications and technology industries, and is read by as many as 1.5 million unique visitors
monthly. TMC produces a variety of trade events, including ITEXPO, the world’s leading business technology event, as well as industry events: Asterisk World; AstriCon; ChannelVision (CVx) Expo; Cloud4SMB Expo; Customer Experience (CX) Hot Trends Symposium; DevCon5 – HTML5 & Mobile App Developer Conference; LatinComm Conference and Expo; M2M Evolution Conference & Expo; Mobile Payment Conference; Software Telco Congress, StartupCamp; Super Wi-Fi & Shared Spectrum Summit; SIP Trunking-Unified Communications Seminars; Wearable Tech Conference & Expo; WebRTC Conference & Expo III; and more. For more information about TMC, visit www.tmcnet.com.