Companies today are under pressure to realize process efficiencies, be more effective with less staff, and maximize opportunities to improve their financial position. As such, corporates both small and large are turning to electronic invoice and payment products to realize efficiencies in their AR and AP processes. Yet U.S. companies that have automated both their invoice and payment process are few and far between. Mercator Advisory Group attributes this primarily to the level of effort it takes for companies to process reengineer both invoice and payment processes simultaneously.
Solution provider Taulia is now offering a “rescue” service that aims to revive stalled invoice automation efforts by corporates. We suspect that some of this idea was born out of Taulia’s recent acquisition of former Xign clients that needed the type of consultative support being offered under the rescue plan to make those client programs successful.
Mercator Advisory Group believes that Taulia has a great idea in revitalizing corporate invoice automation efforts that have gone south. As part of the rescue service it is offering for free, Taulia will conduct a business process consultation in the hopes that its recommendations and proof of concept will demonstrate how electronic invoicing solutions should work and can work “better” with Taulia. For customers that sign on after the no-cost consultation, Taulia guarantees a migration of all existing network suppliers. This might be just the mix of externally led process redesign and business case justification that companies need in order to step up their efforts at invoice automation and achieve its intended benefits.
Also of interest in this space is a new approach to end-to-end automation of corporate invoicing and payments, which is described in the recent research report, Order-to-Pay Solutions: Industry Partnerships Likely to Boost Adoption, by Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Services.
