Financial Technology

Financial Technology

November 04, 2013

Esker Banks Big Contract for Its SAP Supporting Accounts Payable Solution

Vendor invoice processing proves to be a tedious process, if done manually. But Esker (News - Alert) turns it into a fuss-free, paperless procedure with its cloud-based document process automation solutions. Recently a big-ticket financial services firm joined Esker’s growing client-roster.

For the new client, a billion-dollar firm, it was important to ensure a smooth, cost-effective and efficient conduct of daily accounts payable (AP) operations. The company already had implemented an SAP (News - Alert) system to this end. The re-implementation of SAP prompted the firm to look for an automated solution that could integrate with its system and streamline each phase of AP. Esker’s solution fit the bill perfectly.

Under the terms of the $252,000 agreement, the new client is going to leverage Esker's Accounts Payable solution to automate almost all phases of its vendor invoice workflow. Integrating with the client’s existing system, the solution will help streamline each phase of accounts payable operations---starting from invoice capture and review to coding and approval, and that’s without building and maintaining the workflow within SAP.

Esker officials disclosed that its attractive pricing helped it bag the contract. Also important was Esker solution's compatibility with the firm’s existing system. The company reportedly made their selection based on how closely the Esker solution's core functionalities matched its own SAP system requirements.

“Companies running SAP already have a proven application in place for more efficient AP -- our solution takes it a step further by integrating end-to-end capabilities within SAP to automate virtually every phase of workflow,” said  Steve Smith, U.S. Chief Operating Officer at Esker. “Manual data entry, manual paper routing, and lack of control and visibility are still prevalent problems within AP departments of businesses large and small. Esker is proud to be an industry leader in helping these companies not only find a paper-free alternative to traditional vendor invoice processing, but leverage a solution that can easily adapt to their unique needs.”

Edited by Rory J. Thompson

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