About

Our service eliminates the manual and machine-captured data capture of small and large amount of invoices.

In recent years we have been working on creating a new generation of invoice processing. The generation where the processing starts yet at the time of the legibility of an invoice, and it is beneficial for all parties (supplier, supplier’s accountant, customer, customer’s accountant, invoice processing Shared Service Centers). We are able to reduce dramatically the total resource demand for invoice data capture ranging from human resources to CO₂ emissions.

Basically, when an invoice is created on a digital device, that data must be processed directly without printing, sending a pdf, manual data recording or robotization. The digital code of the invoices is sent on a secure channel directly to the processing system where its full data content is available.

We achieve this by providing an invisible service for the users, meaning that the users do not need to adjust to a new system. Using the service could begin within 1 month.

Our service handles incoming invoices, coming from anywhere in any language, without even using human or OCR processing mechanism.

Our company is owned by Hungarian private individuals and Hungarian venture capital funds who believe and make considerable efforts so that the reasonable automation becomes not only the privilege (and necessity) of the industry but of support systems as well.

Activity

References

Salesianer Miettex; MMAB Group; Igepa Group; Grenke Leasing;

Experience

Based on measurements and feedback from our users,  the key performance indicators of the invoice processing departments with the use of our service will differ as follows:

• at least 45% reduction in staff numbers – staff can be relocated to higher value-added positions
• the processing time of the accounting data could improve by 180% - actually, it enables real-time data reporting for clients
• recruitment costs will decrease for the given positions
• introducing it to suppliers would only take up a fraction of the time and cost compared to previous EDI protocols; penetration up to 100% is achievable
• appropriate alternative for labor shortages
• the invoice processing time, measuring from the issue date and getting into the core system, accelerates up to 60-200%
• The cost of the physical storage of invoices can be reduced to 0 EUR in 8 years
• The ecological footprint of the Hungarian SSCs (10.5 million kg CO₂ – 130,000 trees / year) can be significantly reduced