CPO Rising’s Technology Round-Up series continues this week with fresh supply management technology news and updates covering a few recent major announcements. If you are a sourcing, procurement, or spend management solution provider and you are continually innovating the way that procurement and supply chain leaders and practitioners drive value, we’d love to hear from you. Please drop us a note at info at cporising dot com. Thanks, and enjoy!
Rossum Unveils E-Invoicing Plug-In for Global Flexibility
LONDON — Rossum, a leader in intelligent document processing, has unveiled its e-invoicing Germany plugin, designed to assist global enterprises in seamlessly adapting to Germany’s impending e-invoicing mandate. This innovative solution empowers businesses collaborating with German partners to maintain compliance while ensuring operational continuity.
The newly introduced e-invoicing plugin seamlessly integrates with Rossum’s existing capabilities of processing PDF documents, expanding the platform’s ability to deliver comprehensive, compliant document processing solutions.
The company stated that its e-invoicing Germany plugin is another step towards a future proof, unified, and compliant AP solution that is capable of handling all invoice formats: from PDFs to e-invoices. This delivers enhanced efficiency through easily maintaining AP workflows regardless of the document format, reduced risk with guaranteed regulatory compliance, and scalability to adapt to evolving business needs.
According to Tomas Gogar, CEO of Rossum, “Our new Germany e-invoicing plug-in offers a comprehensive and flexible approach to e-invoicing, eliminating the need for multiple vendors across countries and ensuring a smooth transition to these new requirements for global companies,” he said.
“With Rossum, businesses can process all invoice types on a single, unified platform, unlocking each country’s e-invoicing requirements as needed. This not only simplifies operations but also provides the flexibility to adapt to evolving business needs.”
Rossum’s e-invoice Germany plugin launch will be followed by the rollout of other country-specific plugins, each requiring specific file formats and transmission channels.
Read the full announcement here.
Symbeo Partners with Amazon Business App Center to Deliver RapidInvoice Product
PORTLAND, Ore. — Symbeo, Inc., a CorVel company, has partnered with Amazon Business App Center to deliver its RapidInvoice, an AI-enabled optical character recognition (OCR) product. The partnership is a significant stride into the mid-market and SMB market, as more companies are drawn to e-commerce platforms such as Amazon’s B2B marketplace, says Symbeo.
This move allows customers to leverage wholesale pricing for goods and services, with the added advantage of integrated payment reconciliation to financial systems, promising a future of enhanced efficiency and cost-effectiveness.
The company stated that Symbeo RapidInvoice is an accounts payable (AP) automation solution for Amazon Business customers that provides receiving, tracking, document separation and classification, and AI-enabled OCR for improved financial reporting and reconciliation. Customers will realize easy setup within five business days, eliminate waste, improve visibility for purchasing power, and proactively manage cash flow for current and future financial needs.
According to Tomika Russell, president of Symbeo, “At Symbeo, we will continue to transform the future of payables. This partnership will empower our joint customers with cutting-edge AP automation technology with the convenience of Amazon Business,” she said.
“This collaboration with Amazon Business reflects our commitment to delivering successful AP automation with innovative technology and strategic partnerships. By simplifying procurement processes and offering convenience of one-stop shopping, this partnership enables businesses of all sizes to drive efficiencies and maximize ROI,” Russell adds.
Read the full announcement here.
Oracle NetSuite Announces New Procurement Solution
AUSTIN, Texas — Oracle NetSuite recently announced a series of new product updates and AI innovations across the suite to help organizations increase efficiency and accelerate growth. The latest innovations build on the comprehensive AI capabilities, including generative AI, embedded in NetSuite by adding powerful new AI updates, a new procurement solution, new partner integrations, updated project management capabilities, user experience enhancements, new training resources, and an integrated benefits offering.
According to Evan Goldberg, founder and executive vice president at Oracle NetSuite, “We designed NetSuite to be the foundation of business growth, with a platform that can evolve and expand to meet changing needs and a data model that connects a customer’s entire business,” he said.
“We continue to extend NetSuite’s capabilities to further strengthen that foundation. As customers scale their businesses on NetSuite, AI innovations and workflow optimizations help them gain intelligent insights, improve productivity, and simplify collaboration.”
The company stated that to help customers gain insights to inform decision making, identify growth opportunities, and solve business challenges, NetSuite is introducing innovations across the suite. A few of the latest capabilities include:
- NetSuite SuiteProcurement: Helps organizations streamline indirect procurement processes, control costs, and gain access to preferred pricing and benefits from suppliers, including Amazon Business and Staples Business Advantage. With features to help automate purchasing approvals, order creation, invoicing, and reporting, customers can optimize spending and efficiently buy goods and services needed to support growth.
- AI updates embedded across the suite: Helps organizations increase efficiency, mitigate risk, and reach their goals faster. With financial exception management, a new digital assistant in NetSuite SuiteAnalytics, and tools to enhance the quality of AI-generated content and embed generative AI in NetSuite extensions, customers can gain more value from the suite.
- NetSuite Enterprise Performance Management (EPM): Helps organizations streamline financial reporting and quickly capitalize on growth opportunities. With updates that enable generative AI for narrative reporting, AI-powered narratives in NetSuite Planning and Budgeting, enhanced predictive forecasting, and a digital assistant to assist with EPM workflows, customers can improve productivity and further enhance decision making.
Read the full announcement here.
DocuPhase and Center Announce Preferred Partnership, Combining AP and Expense Management Expertise
CLEARWATER, Fla. — DocuPhase, a leading provider of financial automation solutions, announced its preferred partnership with Center, a software company modernizing travel and expense management. Combining their respective expertise in automation and expense management, DocuPhase and Center are set to offer a more comprehensive suite of services to meet the evolving needs of both companies’ customers, filling a critical gap in integrated AP payment and expense solutions.
The company stated that DocuPhase and Center are committed to streamlining everyday financial tasks and offering enhanced visibility into critical transaction and payment processes. This preferred partnership provides customers with the peace of mind that comes from accurate, easily monitored payments, and expense management. Through this collaboration, both companies are poised to deliver superior value and drive greater efficiency for their customers.
According to Dan Gaertner, CEO of DocuPhase, “This strategic partnership between DocuPhase and Center allows both organizations to address the critical needs and pressures finance leaders are facing. Given rising labor costs, continuing inflation, advanced fraud risks, the need for increased visibility and control over expenses has never been more important,” he says.
“Combining our vendor management, invoice, and payment management with Center’s travel and expense management solution creates a complete view into expenses that empowers business leaders to make more strategic business decision,” Gaertner added.
Read the full announcement here.
Blue Yonder and FPT Software Partner on Supply Chain Management Solutions
HANOI, Vietnam — Global IT company FPT Software announced a partnership with Blue Yonder, a world leader in digital supply chain transformations, to deliver end-to-end supply chain management solutions tailored to the needs of businesses across various industries in Southeast Asia.
The company stated that the partnership targets six key markets, including Singapore, Malaysia, Thailand, Indonesia, Vietnam, and the Philippines. Leveraging Blue Yonder’s world-class supply chain solutions and FPT Software’s extensive reach and implementation experience in these markets, the partnership is expected to deliver rapid, customized supply chain management strategies that address the unique challenges faced by diverse industries in the region.
According to Nguyen Khai Hoan, senior executive vice president for FPT Software, “The demand for digital transformation in supply chain management across Asia is growing rapidly, driven by the need for enhanced efficiency, resilience, and adaptability,” he said.
“By combining our solid presence and network of partners and customers in this high-growth region with Blue Yonder’s expertise, we are well positioned to deliver more tailored, high-impact solutions that meet the evolving needs of businesses,” Khai Hoan added.
Read the full announcement here.
