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Forbes
28-03-2025
- Business
- Forbes
Could Agentic AI Be The Superhero Of Sales Order Processing?
Uli Erxleben, Founder and CEO, Our vision is to enable AI to run business operations, while humans make decisions. getty Every year, businesses lose billions due to inefficiencies in sales order processing—delays, errors and outdated manual workflows. A McKinsey report on order-to-cash optimization highlights how these inefficiencies can significantly impact revenue and operations. But what if AI could eliminate these bottlenecks and transform order processing into a seamless, automated engine for growth? Sales order processing is more than just an administrative function; it's the backbone of revenue generation. It involves multiple stakeholders on both the buyer and seller sides—from procurement and finance to warehousing and sales teams. Each step demands precision: pricing negotiations, compliance checks, order validation and fulfillment. Any breakdown in this chain can lead to lost sales, strained customer relationships and operational chaos. Think your sales order process is error-free? Think again. From missing information to compliance nightmares, even the best-run businesses face costly bottlenecks. Traditionally, AI has been seen as ill-equipped to handle the complexities of sales orders. The common belief is that order processing is too nuanced, too company-specific and too reliant on human expertise. But these assumptions are outdated. As I explained in one of my articles on the human-machine transition, today's AI agents can process orders faster, more accurately and more intelligently than even the most experienced teams. Even in 2025, businesses grapple with inefficiencies like: Manual Data Entry Errors: A single typo can cause costly fulfillment delays. Lack Of Real-Time Visibility: Businesses struggle to track orders across fragmented systems. Compliance And Pricing Complexities: Changing tax codes, contract terms and promotional pricing create roadblocks. Slow Approvals And Processing Times: Delays frustrate customers and impact cash flow. The cost of these inefficiencies? Higher operational expenses, dissatisfied customers and revenue leakage. Companies can no longer afford to rely on outdated processes when technology offers a clear solution. Unlike traditional automation, which follows rigid, predefined rules, agentic AI adapts, learns and makes intelligent decisions. Think of it as a highly skilled digital assistant that evolves with your business, handling complex order processing with precision and speed. For example, AI agents can: • Instantly match purchase orders with product catalogs, ensuring accurate item selection. • Predict and resolve potential errors, reducing rejected or incorrect orders. • Streamline workflows by integrating seamlessly with ERP and CRM systems. • Automate compliance checks, reducing legal and tax-related risks. One leading cleaning technology company operating in over 150 countries implemented my company's platform leveraging its domain-specific Accounts Payable AI Agent as a core component of their automation center. The result? An 85% straight-through processing (STP) rate, dramatically accelerating their global invoice-to-pay cycle, eliminating errors and significantly reducing manual reconciliations. AI didn't just optimize processes—it unlocked new levels of efficiency and scalability as they now let AI handle data entry and matching tasks while humans do what they do best: build relationships. There's a common misconception that AI will replace human jobs. In reality, AI isn't about eliminating roles—it's about empowering them. By automating repetitive, time-consuming tasks, AI allows sales and finance teams to focus on higher-value work like strategic planning and customer relationship management. Imagine a world where sales professionals spend less time inputting orders and more time engaging with clients. Where finance teams aren't buried in spreadsheets but are driving data-backed decisions. This is the promise of AI-driven order processing. While agentic AI presents a compelling solution to sales order processing inefficiencies, it's important to acknowledge potential challenges and limitations. Like any transformative technology, it comes with hurdles businesses need to navigate before diving in headfirst. Deploying AI for sales order processing isn't a plug-and-play solution. It requires integration with existing ERP, CRM and financial systems, which can be costly and time-consuming. Companies must also invest in training and change management to ensure a smooth transition. AI is only as good as the data it's fed. If a business has inconsistent, incomplete or outdated data, AI may struggle to deliver accurate results. Cleaning and standardizing data before implementation is a crucial but often underestimated first step. While AI excels at automating routine tasks, sales orders can involve highly specific contractual terms, customer preferences or unusual requests that may require human judgment. Businesses need to strike the right balance between automation and human oversight. Automating sales order processing isn't just about efficiency—it's about positioning your business for future success. The question isn't whether AI can handle sales order processing—it's whether your business can afford to keep relying on outdated manual workflows. The future belongs to those who embrace transformation. Are you ready? The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation. Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
Yahoo
26-03-2025
- Business
- Yahoo
Esker Named a Leader in First-Ever Gartner® Magic Quadrant™ for Accounts Payable Applications
LYON, France & MIDDLETON, Wis., March 24, 2025--(BUSINESS WIRE)--Esker, the global authority in AI-powered business solutions for the Office of the CFO, today announced that it has been named a Leader in the 2025 Gartner Magic Quadrant for Accounts Payable Applications. The Gartner report evaluated 14 vendors based on their Ability to Execute and Completeness of Vision, positioning Esker as a Leader, which it believes is because of its strong performance, cutting-edge technology and customer-centric approach. Esker Accounts Payable streamlines invoice processing by eliminating manual inefficiencies with AI-driven data capture, automated processing and electronic workflows. Ensuring e-invoicing compliance, it simplifies cashflow management and unlocks new revenue opportunities, delivering a smarter, more efficient AP experience. It is Esker's view that this recognition reflects its dedication to robust AI integration, advanced dashboards and reporting capabilities, and commitment to global compliance and support. "We are honored to be recognized as a Leader in the inaugural Accounts Payable Application Magic Quadrant," said Catherine Dupuy-Holdich, S2P Product Manager at Esker. "In our opinion, Esker's AI-driven capabilities have revolutionized the way businesses manage their accounts payable processes. For our customers, we feel we offer greater efficiency, improved accuracy and the ability to focus on strategic initiatives rather than manual tasks." Esker is the only company recognized in three Magic Quadrant reports: Gartner Magic Quadrant for Source-to-Pay Suites, Gartner Magic Quadrant for Invoice-to-Cash Applications and this first-ever Gartner Magic Quadrant for Accounts Payable Applications. From Esker's perspective, it is a trusted partner for businesses seeking to automate and optimize their end-to-end finance and procurement processes. To access a complimentary copy of the 2025 Gartner Magic Quadrant for Accounts Payable Applications, please click here. Gartner, Magic Quadrant for Accounts Payable Application, by Mike Helsel, Miles Onafowora and Nick Duffy, published March 19, 2025. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. About Esker Esker is the global authority in AI-powered business solutions for the Office of the CFO. Leveraging the latest in automation technologies, Esker's Source-to-Pay and Order-to-Cash solutions optimize working capital and cashflow, enhance decision-making, and drive better collaboration and human-to-human relationships with customers, suppliers and employees. Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Madison, Wisconsin. For more information on Esker and its solutions, visit Follow Esker on LinkedIn and join the conversation on the Esker blog at View source version on Contacts Press Contact: Brian JaegerTel: (352) 682-7636 | eskerpr@ Sign in to access your portfolio
Associated Press
14-02-2025
- Business
- Associated Press
xSuite Showcases AI-Driven Accounts Payable Solutions at SAPinsider Las Vegas 2025
Framingham, MA / Las Vegas, NV, February 14, 2025 – xSuite, a leading software provider specializing in Accounts Payable Invoice Automation, will showcase its latest workflow solutions at SAPinsider Las Vegas 2025, taking place from March 18–20, 2025, at the Bellagio Hotel & Casino. This highly anticipated event serves as a global hub for SAP professionals, providing attendees with the opportunity to explore cutting-edge technologies and actionable strategies to enhance SAP environments. Whether you're a seasoned expert or new to SAP, SAPinsider Las Vegas promises hands-on insights and valuable networking opportunities with industry leaders and peers. Visit xSuite at Booth #205 xSuite invites attendees to experience its innovative solutions firsthand through live demos, interactive sessions, and engaging activities. At Booth #205, visitors can gain valuable insights into how xSuite leverages AI on the SAP Business Technology Platform (SAP BTP) to revolutionize Accounts Payable processes. Don't Miss xSuite's Featured Sessions xSuite is proud to host a series of expert-led sessions designed to help organizations optimize their AP processes and maximize the benefits of SAP technology. Session Highlights: March 19, 11:40 AM: Customer Success Story with TDS, Inc. – Matthew Dolezol, Senior Manager of A/P, T&E, Payroll, and Cash at TDS, and Sanjeev Gupta, Senior SAP Consultant at xSuite will present how the company streamlined its AP operations using xSuite's solutions. March 18, 11:10 AM: The Key to S/4HANA Success' with Jan Schulze, xSuite's Global Vice President Product Management will discuss how AI plays a critical role in Accounts Payable transformation on SAP BTP. March 19, 2:00 PM: 'Automating AP Workflows' with Bob Buettner, Senior Account Executive at xSuite. Bob Buettner will explore how automation reduces costs and transforms Accounts Payable workflows. Event Details Date: March 18–20, 2025 Location: Bellagio Hotel & Casino, Las Vegas xSuite Booth: #205 Learn more about SAPinsider Las Vegas 2025 and register today: SAPinsider Las Vegas 2025 With offices in Asia, Europe, and the U.S., xSuite is a leading innovator in optimizing SAP-based P2P workflows. The company provides software solutions and implementation services to over 1,600 clients worldwide, making it a trusted partner in modernizing AP systems and automating manual, paper-based processes. For media inquiries, please contact: Caitlyn Paroff Tel. +1 603-913-4323
Associated Press
13-02-2025
- Business
- Associated Press
New research reveals legacy tech within finance risks major inaccuracies, significantly hampering productivity
MANCHESTER, UNITED KINGDOM, February 13, 2025 / / -- A new survey exploring the challenges and experiences of finance departments in British businesses has been unveiled, with findings revealing legacy technology is having a detrimental effect on productivity and accuracy. More than half of respondents stated they are still using legacy OCR technology, and of those, a huge 98% admit this results in errors or requires manual intervention. Commissioned by Open ECX, a leader in financial process automation software, the survey of 810 managers working in finance departments in companies with 250+ employees, found that while 14% of those using legacy OCR technology state it is rare for it to produce errors or require manual intervention, a substantial 84% admit it happens most or some of the time. For what is often considered the engine room of most organisations, such inaccuracies within the finance department could not only present a major risk to the business but also have a negative impact on the productivity levels of the finance teams who must then painstakingly work to resolve the errors. Nathan Ollier, CEO at Open ECX, commented: 'At a time when businesses and finance teams are under huge pressure to keep costs down, further compounded by the recently announced employer tax and page increases, it is alarming to see how widespread the use of legacy OCR technology is, and worryingly, the negative effect it is having on both productivity and accuracy within finance departments. 'It is clear that many finance teams are struggling with time consuming, manual processes resulting from outdated and complex technologies; the knock-on effect is unmotivated staff and disgruntled suppliers who are being forced to deal with these queries and errors, and ultimately, growth and productivity being held back.' The research also revealed that over two-thirds (78%) of respondents are having to intervene in between 21% and 80% of their supplier invoice processing, and nearly one third (31%) are manually intervening in the majority (60%+) of their supplier invoices. Only 13% can claim they have to manually intervene in less than 20% of their supplier invoice processing. Additionally, over half (54%) say their supplier statement reconciliation takes more than one working week (at least 6 days), and one in ten (11%) say it takes two-three weeks (11-15 working days). 'The level of manual intervention required in the finance and Accounts Payable (AP) function raises major concerns around the significant time being wasted on administrative jobs that could and should be tech-driven,' said Nathan. 'Automation has the potential to completely transform the finance and AP function, and as such, must become a priority for businesses if they are to capitalise on the core skills of these teams. Only then can they ensure they are delivering value and cost efficiencies for the business, rather than being burdened by lengthy and needlessly complex administrative processes.' Indeed, automation ranked highest when respondents were asked what best described the top priorities for the AP function in 2025, with 46% stating their priority was to fully automate their invoice receipting process, requiring little or no manual intervention. This concurs with the finding that one third say their AP processes are around 41-60% automated, meaning the other half must be manual. Interestingly, the survey also highlighted a lack of budget was the number one barrier that could stop or limit success in achieving their priorities, with 59% identifying this as their main obstacle. Budget also governed the next barriers identified by respondents, with technology (48%), time (48%) and skills (43%) all dependent on sufficient budgets. Nathan concluded: 'While budget constraints are likely to determine the level of investment in automation, as we head into 2025, businesses can ill afford to ignore the potential risks associated with legacy technologies. Even where some processes are partially automated, this is still likely to result in a lot of time being wasted on manual processes, keeping teams from higher-value tasks that could be driving more productivity and profit. 'Finance and AP teams want technologies that can automate supplier invoice processing, that can quickly and accurately reconcile statements, and that can empower them to focus on the areas of the job that delivers real and tangible value. Yes, this is an investment, but one that will drive long-term, positive change. Put simply, can businesses afford not to update their technologies and systems?' ENDS Notes to editors About the research Research carried out online by Research Without Barriers (RWB) between 8 October – 29 October, 2024. The sample comprised 810 managers+ in finance departments in companies of 250+ employees. All research adheres to the UK Market Research Society (MRS) code of conduct (2023). RWB is registered with the Information Commissioner's Office and is fully compliant with the General Data Protection Regulation (GDPR) and the Data Protection Act (2018). About Open ECX Founded in 2012, Open ECX's industry agnostic technology enhances and streamlines business processes, enabling its customers to experience full automation and accounts payable efficiencies, with significant time and cost saving benefits. Its innovative solutions are trusted by leading brands including Grundfos, Wolseley and NG Bailey. Since winning 'Tech Company of the Year' at the National Technology Awards 2022 and being named one of the Top 100 Fastest Growing Tech Companies at GP Bullhound's Northern Tech Awards, Open ECX has continued its strong growth trajectory, expanding into new markets and launching new products, including statement reconciliation. For press information, interviews and images please contact the Open ECX press office: Mrs Clare Wall Firework PR Ltd.
Associated Press
28-01-2025
- Business
- Associated Press
Artsyl Technologies Recognized as Top Performer in Accounts Payable Automation Software
Delivering Cutting-Edge Automation Solutions with Proven Customer Success 'This recognition as a Top Performer in Accounts Payable Automation Software highlights our dedication to helping businesses simplify AP workflows with our AI-powered IPA solution - docAlpha.' — Artur Vassylyev, President / Dir. of Engineering at Artsyl Technologies VAUGHAN, ON, CANADA, January 28, 2025 / / -- Artsyl Technologies, Inc., a leading provider of Intelligent Process Automation (IPA) solutions, is proud to announce its recognition as a Top Performer in the FeaturedCustomers Winter 2025 Accounts Payable Automation Software Customer Success Report. This designation highlights Artsyl's exceptional impact in transforming accounts payable processes for businesses worldwide. The FeaturedCustomers report, which evaluates over 7,000 pieces of verified customer reference content, honors the industry's best by analyzing real-world success stories and customer satisfaction. As a Top Performer, Artsyl stands out for its innovation, reliability, and commitment to delivering measurable results for its clients. Why Artsyl Was Selected as a Top Performer in Accounts Payable Automation Software Category Artsyl's docAlpha Intelligent Process Automation platform and vertical solutions for AP automation, such as InvoiceAction, OrderAction, and ArtsylPay, set the benchmark for excellence in accounts payable automation. Designed to address the complexities of AP processes, Artsyl's solutions empower businesses to achieve unparalleled efficiency and accuracy. Key benefits of Artsyl's AP automation solutions include: • AI-Powered Automation: Leverages advanced artificial intelligence to extract, validate, and process invoice and order data with unmatched speed and accuracy. • Cloud-Based Infrastructure: Offers secure, scalable, and remote-accessible automation, hosted on Microsoft Azure, providing flexibility for businesses of all sizes. • SOC 2 Certified: Demonstrates Artsyl's commitment to the highest standards of data security, confidentiality, and compliance, ensuring peace of mind for customers in regulated industries. • Tight ERP Integration: Seamlessly integrates with leading ERP systems, including SAP, NetSuite, MS Dynamics, Sage, Acumatica, IFS, and others, creating a streamlined, end-to-end AP workflow. • ArtsylPay for Payment Automation: Enables secure and efficient payment processing while offering rebate opportunities, further enhancing ROI. • Vendor Onboarding and Compliance: Automates the onboarding process, ensuring all vendor data is validated and compliant with regulatory standards. • Real-Time Insights: Provides actionable insights through intuitive dashboards and analytics, allowing businesses to monitor and optimize AP workflows. • Error Reduction and Cost Savings: Minimizes manual errors, reduces processing costs, and accelerates approval cycles to boost overall productivity. Artsyl's innovative solutions not only simplify AP processes but also enable businesses to unlock the full potential of automation. These features and benefits solidify Artsyl's well-deserved recognition as a Top Performer in Accounts Payable Automation Software. What This Means for Artsyl's Customers Being recognized as a Top Performer reaffirms Artsyl's dedication to delivering world-class AI-based automation solutions, particularly for accounts payable processes. At the heart of this recognition is Artsyl's flagship docAlpha Intelligent Process Automation platform, hosted on Microsoft Azure, which provides robust security, seamless ERP integration, and unmatched scalability. docAlpha and its vertical solutions, including InvoiceAction, OrderAction, and ArtsylPay, empower businesses to streamline AP workflows by automating document processing, invoice management, order processing, and payment management. These tools drive measurable benefits such as reduced errors, faster approval cycles, and significant cost savings. 'This recognition as a Top Performer in Accounts Payable Automation Software underscores our commitment to helping businesses simplify their AP workflows,' said Artur Vassylyev, President / Dir. of Engineering at Artsyl Technologies. 'With IPA platform like docAlpha, we enable our customers to eliminate inefficiencies, meet compliance requirements, and enhance productivity—all while leveraging the power of intelligent automation.' By continuing to innovate and prioritize customer success, Artsyl remains a trusted partner for businesses seeking secure, scalable, and effective automation solutions in the ever-evolving AP landscape. Looking Ahead: Innovation and Growth As a Top Performer in Accounts Payable Automation Software, Artsyl is dedicated to continuously enhancing its product suite to meet the evolving demands of its customers. This recognition underscores Artsyl's unwavering commitment to innovation, enabling businesses to achieve greater efficiency, accuracy, and competitive advantage in a rapidly evolving marketplace. Discover how Artsyl's award-winning solutions can transform your AP processes. Contact us today to explore your automation journey! About FeaturedCustomers FeaturedCustomers is a trusted platform that showcases B2B business software and services through verified customer success content. Its Winter 2025 Accounts Payable Automation Software Customer Success Report reflects an in-depth analysis of real-world customer experiences, ensuring unbiased recognition of the industry's leading software providers. To learn more about FeaturedCustomers, please visit About Artsyl Technologies, Inc. Artsyl Technologies, a leading publisher of Intelligent Process Automation (IPA) platforms, is dedicated to eliminating the inefficiencies of manual and error-prone processes. By harnessing the power of Digital Transformation technologies such as Robotic Process Automation, Cognitive AI, Machine Learning, IDC, OCR/ICR, BPM, and iPaaS, Artsyl's solutions drive operational efficiency, improve cash management, and accelerate business velocity. At the core of Artsyl's offerings is their Intelligent Process Automation platform, which streamlines and automates complex business processes. Through this platform, Artsyl also provides pre-packaged Action Solutions tailored to specific processes like Invoice and Sales Order automation. These pre-configured solutions deliver process-specific intelligence, enabling efficient and cost-effective implementations. ArtsylPay, their cutting-edge payment automation solution, seamlessly integrates with the Intelligent Process Automation platform. By automating payment processing, ArtsylPay enhances cash management and drives operational savings for businesses. To learn more about Artsyl Technologies and their innovative solutions, please visit Experience the future of process automation and payment solutions with Artsyl. Vita Vasylyeva X LinkedIn YouTube Legal Disclaimer:
