Fuji Xerox Asia Pacific announced today its expanded partnership with business process and document automation leader, Esker to launch its Esker Accounts Receivable solution (hereafter, the Solution) in Asia Pacific. The AI-driven, cloud-based solution enables different teams to collaborate more effectively and is compliant with standards in over 60 countries globally.
By accelerating invoice delivery, the newly launched Solution allows customers to reduce days sales outstanding (DSO) and processing costs, while simultaneously improving business efficiency. Currently, estimates indicate only 40% of companies have adopted e-invoicing, but that number is predicted to rise to 80% by 2025 as a result of government legislation or changing business processes by important trading partners.
The Solution automates the areas of accounts receivable (AR) that matter most to the business, from invoice delivery and credits and collections, to cash application and payments, allowing businesses to collect receivables in a timely manner.
The Solution is also PEPPOL-compliant (Pan European Public Procurement Online). As a certified PEPPOL Access Point, Esker processes, sends and receives invoices to any recipient within the PEPPOL network. This accreditation is key to Fuji Xerox customers, especially those based in Singapore, where the Government has adopted PEPPOL for Business -to-Government (B2G) document exchanges.
Fuji Xerox Singapore is also one of the first companies in Asia Pacific to adopt this solution. The AR solution has helped the company reduce costs by 22 percent and enjoy faster payment cycles. By eliminating manual data entry and digitizing the invoicing process, Fuji Xerox Singapore has reduced the average time required to create and deliver an invoice from nine to three working days.
Amane Inoue, Corporate Vice President and Executive General Manager, Advanced Industrial Services Business Group, Fuji Xerox Co., Ltd said that this partnership highlights Fuji Xerox’s commitment to providing a comprehensive suite of business solutions that enhances overall efficiency.
“By delivering the Solution, we are helping customers speed up administrative processes, while reducing costs. Furthermore, the digital platform allows companies to reduce the environmental impact from paper invoicing, which is one of our key corporate sustainability goals”
The AP and AR solutions are part of Esker’s suite of AI-powered digital solutions for procure-to-pay (P2P) and order-to-cash (O2C) processes.