Flexible Partner Solution for Automated Invoice Reading


Incoming invoice projects are complex and expensive. The employees of IT Speicherkraft Vertriebs and Dienstleistungs GmbH heard this statement again and again and developed an alternative: data.speicherkraft.com – a smart app for automated invoice reading for micro, small and medium-sized enterprises (SMEs) in Germany and Austria. They run their Software-as-a-Service (SaaS) solution in their own data center, which is accessible to users via the web client. This eliminates the need for investment in hardware and software as well as the time-consuming setup of workflows.

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IT Services

accounts payable

Accounts Payable

Results

  • Automated processing saves 50- 80% of time
  • SaaS solution with web client for a fixed price
  • Users do not need their own software or hardware
  • Set up within a week
  • ROI within a few months


The offer ranges from OCR recognition of relevant data fields, the validation of the extracted data with test algorithms and master data reconciliation to the transfer to defined line of business or other systems. The core functionality is handled by the intelligent document capture platform Ephesoft Transact, which has been individually configured by IT Speicherkraft. This eliminates time- consuming work steps such as data entry and plausibility checks for end users. Depending on the volume of daily incoming invoices, the ROI is quickly reached after a few months.

The Challenge

Speicherkraft was founded in 2012 in Seiersberg, Austria, and is represented in Germany since 2017. The portfolio includes the development of customized solutions for scanning and document management, distribution of hardware and software as well as IT services including data center operations.

The first idea for the SaaS solution came from a request of the Bürosysteme Petric GmbH, the largest monobrand Xerox Platinum Partner in Austria, who wanted to optimize the processing of NSO invoices (collective quarterly invoice). Those are sent by the manufacturer on a quarterly base to their distribution partners, who then pass on the open items or credits to their lessees. For example, billing can be performed for variable fees for color printouts on the multifunction device (MFP) if the agreed volume has been exceeded. Unused contingents, however, will be credited to the end user.

Between 3,000 and 4,000 NSO invoices per quarter are received by the accounting department of Bürosysteme Petric, which must all be processed at one time. This meant a big effort and the Xerox Platinum Partner wanted to rectify without having to invest heavily.

The Strategy

Speicherkraft proposed to develop a suitable app on a rental basis. The business of Bürosysteme Petric would be the pilot and later be extended to all types of incoming invoices. “We see enormous potential among our existing customers as well as new customers,” explained Ing. DI (FH) Christian Günther, Managing Director of Speicherkraft. “Almost all accounting departments look for innovative ways, but fail because of the exorbitant cost.”

The requirements catalog for the planned app focused on the extraction and validation functionality. Most bills are sent electronically, including Xerox who transmits CSV files with selected billing details together with their NSO invoices. However, they first must be imported into their ERP system.

Christian Günther added, “Even if the manual data entry is omitted, each invoice must be checked and booked.” He cites rounding differences, human errors and stray documents as possible sources of error. Anyone who rigorously tests, according to his experience, saves a four- to five-digit amount per year. “Automated invoice processing combined with database reconciliation is ideal for any accounting department. And we make it affordable for everyone.”

“There are many smart apps…but only we offer automated invoice reading at a smart price. Ephesoft Transact provides optimal conditions and prerequisites.”

— Ing. DI (FH) Christian Günther, Managing Director at Speicherkraft

Server room center exchanging cyber datas 3D rendering

The Solution

The DMS specialist searched for a suitable capture platform and found it in Ephesoft Transact. “The modern web architecture is optimal for our SaaS strategy and the license model is very attractive,” explains DI (FH) Michael Dommayer, Technical Manager at Speicherkraft. “The fact that Ephesoft does not rely on page count is absolutely new in the MFP industry – and ideal for us as a service provider.” He also appreciates the unlimited scalability that makes entering the market for data.speicherkraft.com much easier.

The company became Ephesoft’s Platinum Partner in early 2017 and is now offering the document capture portfolio in two deployment versions: as an on-premises license for large customers and as SaaS for SMEs.

At the beginning of 2017, Bürosysteme Petric successfully started operating the NSO module. A second Xerox partner in Austria shortly followed the same path using Ephesoft’s technology. More are planning to follow and the German Channel will be supported by the Dorsten location.

Some existing customers of other industries already showed interest, specifically tax consultants and medical practices. For these specific groups, the app provides extensive input functions: the user can scan paper documents and upload the data. Alternatively, it retrieves its digital channels, such as email or fax inboxes, and submits the content to the Ephesoft Transact Server for processing. Individually programmed features prepare the extracted data for selected target systems like the classic control programs RZL, BMD and DATEV. The implementation was completed at the end of 2017 and will start active distribution through the partner network.

Regarding pricing, the provider relies on transparency: there is a one-time setup fee for the configuration of the web access. Special training effort for new document layouts does not apply, because Ephesoft Transact uses self-learning algorithms in OCR recognition. With the start of operations, a monthly flat rate is due, as well as a unit price per invoice, which varies depending on the annual volume. “Our cost model is completely transparent and especially interesting for SMEs that do not have their own IT department,” concludes Christian Günther.

“The Ephesoft license model is very flexible and therefore ideal for us as a service provider entering a new product segment.”

— DI (FH) Michael Dommayer, Technical Director at Speicherkraft

IT Speicherkraft

IT Services

accounts payable

Accounts Payable


Results

  • Automated processing saves 50- 80% of time
  • SaaS solution with web client for a fixed price
  • Users do not need their own software or hardware
  • Set up within a week
  • ROI within a few months

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Explore how Ephesoft can transform your business operations, slashing operational costs and reducing document processing time from days to mere hours.