|By PR Newswire||
|March 6, 2014 02:00 AM EST||
FARNHAM, England, March 6, 2014 /PRNewswire/ --
ITESOFT and Mazars have once again collaborated to deliver the 5th edition of the annual "Purchase-to-Pay Automation" survey, in partnership with Accounts Payable News, Shared Services Link and Fujitsu. This European-wide finance poll is a widely regarded benchmark for accounting and finance professionals working in mid-to-large sized organisations within the public and private sector. This comprehensive report identifies emerging industry trends and the key factors for a successful Purchase-to-Pay (P2P) process, comparing different P2P practices across UK, Belgium, France, Germany and Switzerland.
Multi-ERP integration, financial & accounting management tools, supplier collaboration and mobile applications have been reported as the four new emerging trends within the purchase-to-pay automation arena.
The main findings of this 2014 edition
- P2P automation is an ever-growing practice within AP departments, confirmed by 75.5% of all survey respondents that reported they have implemented one or more solutions for their AP processes. This is a 15% increase from 2012.
- Respondents within this 75.5%, outlined three main advantages of having an automation solution in place; a reduction in administrative costs, a reduction in processing times, and a general improvement in the management of the entire purchase-to-pay process (from creation of the purchase request to payment of the invoice).
- The rate of growth for P2P projects is consistent across all countries, with 58% of respondents reportedly having a P2P project for their AP process. Given the already high implementation rate, these projects often involve the addition of new applications (e.g. the collaborative supplier portal) or new roll-outs.
- In this current era, globalisation is increasing, leading towards the globalisation of new P2P projects. This globalisation operates on two levels; a functional scope (all of the Purchase-to-Pay chain is now taken into account) and a geographical scope (1/3 of all projects underway or planned will be rolled out in respondents' international subsidiaries).
- Financial and Accounting departments need "flexible" solutions that are capable of adapting to frequent organisational and IT changes. 43.5% of respondents say that the reorganisation of their accounts payable department is "likely" or "being considered". At the same time, the accounting IT system is heterogeneous (15% of companies are multi-ERP) and can change quickly; 29% of respondents indicate they have changed at least once during the past three years.
- In fact flexibility i.e. "multi-ERP integration" and the "business-line management tool" are reported as the two new key principles when choosing a P2P solution. On average, 82% of respondents maintain that it is 'fairly' or 'very' important to choose a platform that is capable of carrying out multiple, diverse applications as well as adapting to fast organisational changes.
- And 84% of respondents also choose according to the capacity of the P2P solution to automatically generate management indicators to monitor the whole chain, regardless of the existing or future IT systems and organisational methods.
- The onset of new practices: the supplier portal
The UK is the precursor in this area; nearly 25% of organisations in the UK have implemented a supplier portal, compared to just 14.5% in France. This emerging practice is expected to gradually grow, with 17.6% of projects reported for France, 27% for the UK and almost 19.3% on average for the all countries covered by the study.
- ... and mobile applications
To improve flexibility and responsiveness, and keep in line with "DAF 3.0", 30% of Finance and Accounting departments are already using smartphones and tablets to authorise management of the business line in real time. In 23% of cases they use them to consult documents and 19% for their collaborative process (validating a procurement request or an invoice).
The full results of the 2014 'Purchase-to-Pay Automation' Finance Survey are available for download here
About the 2014 'Purchase-to-Pay Automation' European Survey, Accounts Payable News, Fujitsu, ITESOFT, Mazars and Shared Services Link
The survey was designed by a panel of experts* and conducted during the months of June, July and August 2013 (in the form of an online questionnaire) among a broad target group of decision makers, ranging from Accounting and Finance departments. 353 respondents representing 325 public and private organisations answered the questionnaire in full.
* Members of the panel of experts:
Catherine Bergaud, Partner, Accounting and Finance support, Head of Outsourcing - MAZARS
Antoine de Noyer, Director Transformation Finance - Carlson Wagonlit Travel
David Dogimont, Senior Manager Accounting and Finance Support - Mazars
Jean-Louis Douyere, Head of Accounting department - Bull
Veronique Giraudon, Group CFO - Betclic
Marc Henri Gouzien, Site Controller - Agco
Yann Guyomar, Senior Manager Consulting - Mazars
François Lacas, Marketing and Communications Operations Director - ITESOFT
Laurent Olier, Director of Marketing Project - ITESOFT
About ITESOFT - http://www.itesoft.co.uk
ITESOFT is an international software vendor of multichannel document capture and process automation solutions aimed at accelerating, streamlining, and securing document-centric business processes. Leveraging its specialized R&D labs and research programs, the performance and innovation of ITESOFT's solutions have helped the company gain the status of an internationally recognized leader beyond its number 1 market position in France.
ITESOFT deploys its solutions to automate critical business processes for over 1,000 clients in large- to mid-sized organizations and SMEs in 29 countries, handling more than a billion documents every year across business sectors.
Founded in 1984, ITESOFT has offices in Germany, the United Kingdom, and France, serving western European markets (Germany, Belgium, Luxembourg, Switzerland, the United Kingdom, and France), as well northern Africa and the United States. With a staff of 196 people, the company generated consolidated revenue of 21.6 M€ in 2013. ITESOFT has been listed on the Euronext Paris stock exchange since February 2001.
ITESOFT's two-fold go-to-market strategy:
- Selling "on premise" solutions (the company's ITESOFT FreeMind activity) including software licenses and associated professional services to implement automated document capture and processing projects, both for large organizations and intermediate-sized companies.
- Providing automated supplier invoice capture and processing as an SaaS (software as a service) solution through Yooz, ITESOFT's independent business unit serving SMEs, associations, certified accountants, and local government organizations.
ITESOFT's solutions measurably and significantly increase the efficiency of document-centric business processes, both paper and electronic, such as Purchase-to-Pay, Order-to-Cash, customer case handling, and more, by increasing productivity and reducing costs while ensuring end-to-end process reliability and traceability. These solutions provide managers with the decision-making tools they need to monitor and control their processes, including supplier scoring, KPI monitoring, and reporting.
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Oct. 23, 2016 02:00 AM EDT Reads: 10,954
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Oct. 23, 2016 01:45 AM EDT Reads: 658
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
Oct. 23, 2016 01:45 AM EDT Reads: 3,806
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
Oct. 23, 2016 01:30 AM EDT Reads: 1,025
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Oct. 23, 2016 01:30 AM EDT Reads: 3,639
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
Oct. 23, 2016 01:15 AM EDT Reads: 877
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
Oct. 23, 2016 01:15 AM EDT Reads: 982
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
Oct. 23, 2016 12:45 AM EDT Reads: 3,519
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 23, 2016 12:15 AM EDT Reads: 2,423
The Open Connectivity Foundation (OCF), sponsor of the IoTivity open source project, and AllSeen Alliance, which provides the AllJoyn® open source IoT framework, today announced that the two organizations’ boards have approved a merger under the OCF name and bylaws. This merger will advance interoperability between connected devices from both groups, enabling the full operating potential of IoT and representing a significant step towards a connected ecosystem.
Oct. 23, 2016 12:00 AM EDT Reads: 1,188
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Oct. 23, 2016 12:00 AM EDT Reads: 797
Donna Yasay, President of HomeGrid Forum, today discussed with a panel of technology peers how certification programs are at the forefront of interoperability, and the answer for vendors looking to keep up with today's growing industry for smart home innovation. "To ensure multi-vendor interoperability, accredited industry certification programs should be used for every product to provide credibility and quality assurance for retail and carrier based customers looking to add ever increasing num...
Oct. 23, 2016 12:00 AM EDT Reads: 429
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Oct. 23, 2016 12:00 AM EDT Reads: 1,821
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
Oct. 22, 2016 11:45 PM EDT Reads: 4,460
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 22, 2016 11:45 PM EDT Reads: 707