CPO Rising’s P2P Technology Round-Up returns today with another assortment of ePayables, P2P and B2B payment solution provider news and updates from the past month. If you are a sourcing, procurement, or spend management solution provider and you have news to share with us, please drop us a note at editor at cporising dot com. Thanks, and enjoy!
Kofax Announces New Invoice Processing Solution
Kofax (NASDAQ: KFX, LSE: KFX) recently announced the availability of a new and advanced invoice processing solution, called Kofax “IP Agility,” and available on the Kofax digital transformation platform “TotalAgility.” IP Agility, Kofax states, automates the receipt of invoices that are already in an electronic format. The solution also automates paper invoice scanning, and data extraction and exporting to ERP and accounting systems. This solution will provide the enterprise with much deeper insight throughout the entire invoice process. Reports and dashboards will deliver a comprehensive view to users of the processing steps and provide detailed metrics to help with financial decision-making.
Kofax Extends Reach with Robotic Process Automation Platform
Kofax also announced the expansion of the Robotic Process Automation (RPA) platform, Kofax Kapow 10.2. The Kapow software is now being deployed to more than 500 enterprise customers, BPO providers, and shared services organization. Kapow runs on a centralized server, and does not require virtual desktop infrastructure. Implementation is done without complex coding and lengthy development cycles, which speeds up project deployments and should increase ROI. Kapow 10.2 includes a few new enhancements, including adding sophisticated business logic into the robots that enhances monitoring, managing, and controlling virtual desktops. It also has enhanced on-screen image recognition, which allows robots to automate processes via OCR in applications like Citrix. The Kapow RPA also delivers system performance and metrics to help users optimize RPA trends and increase productivity of the organization.
ConnXus Offers New International Supplier Management Systems
ConnXus, a supplier management software provider based in Ohio, recently announced their venture into the international supplier management space. SmartScrub, which is ConnXus’ data validation service, allows clients to validate and manage international diversity statuses from a supplier management dashboard that provides data comparisons between a corporation’s diverse suppliers versus their non-diverse suppliers. ConnXus is also offering new fully localized Supplier Registration Portals and Enterprise Dashboards that will allow clients to summarize data across their international supply chain. This allows global businesses to engage with suppliers in their native language, and streamline communication and reporting without the need for separate solutions.
HSBC Partners with GT Nexus on Supply Chain Finance Program
HSBC recently announced a new partnership with supply chain platform provider, GT Nexus, that will allow customers to manage both their supplier and supply chain finance programs through the GT Nexus platform. This partnership now gives HSBC customers in the US access to a digital commerce platform that will help with the management of complex supply chain processes while also simplifying supplier financing. The use of the GT Nexus platform is currently only available for HSBC customers in the US, but there are plans for expansion.
JPMorgan Chase Investing in Bill.com
It was recently announced that JPMorgan Chase has made an undisclosed investment in Bill.com, a cloud accounting solution provider designed for SMB’s, with headquarters in Palo Alto, California. With this investment, Chase hopes to utilize Bill.com’s technology to provide both an automated and faster way for businesses to send and receive invoices and payments. The partnership also connects Chase’s four million SMB customers with the 2.5 million members on the Bill.com network. The plan is for Chase to integrate Bill.com’s B2B payments technology into its own digital business platforms by early 2018.