Fuji Xerox to Partner With Esker, a Leader in Accounts Payable Automation
Announces Cloud-Based Solution Utilizing AI to Automate and Improve Efficiency in Accounts Payable Management
TOKYO, February 13, 2019 - Fuji Xerox Co., Ltd. announces partnership with Esker, a worldwide leader in AI-driven process automation solutions, to begin offering Accounts Payable Automation Solution (hereafter, the Solution) that enhances the efficiency of accounts payable (AP) management processes. This Solution was first provided by Fuji Xerox New Zealand and the partnership with Esker has been expanded to make the Solution now available in Japan, following sequentially in Australia, Hong Kong, and Singapore.
This partnership will enable Fuji Xerox to offer comprehensive solutions in AP process management entailing Esker's solutions to help its customers resolve a broad range of operational issues. Esker, for its part, will expand its reach in Asia Pacific by utilizing Fuji Xerox's direct sales network spanning Japan and the Asia-Pacific region.
The Solution will combine Fuji Xerox's cultivated solution-building and other consultation know-how pertaining to document management with Esker's cloud-based solution, to help improve overall operational efficiency by linking up the full document lifecycle from application, billing, approval to storage with various accounting management systems.
"As one of the most well-known technology companies in Asia, Fuji Xerox offers the sales, support and consulting services we were looking for to help grow our customer base and facilitate expansion into new regions like Japan," said Jean-Michel Bérard, chief executive officer at Esker. "Together, through this strategic partnership, we will help companies increase AP process efficiency and improve cash flow performance."
Heretofore, automating the AP management process was a challenge because billing formats differ per supplier. Manually extracting data from those billing statements could lead to issues such as more work hours, operational errors, risks of skipped processes, and loss inherent in handling paperwork. Other issues include the longer lead time required for approval, the hassle of reconciling data with a company's accounting management systems, and the inevitable risk of mistaken, missed or double payments.
The Solution addresses these issues comprehensively by specializing in AP management utilizing artificial intelligence (AI) including machine learning, to enable the automatic extraction of data by optical character recognition (OCR) from bills in all formats and to ensure greater precision through learning in doing so. Further, the Solution flexibly deals with the diversity of company-specific processes—such as computerizing the approval workflow, and reconciling data through linkups with accounting management systems.
In addition to streamlining the complex bill processing previously carried out manually, Fuji Xerox will shorten the lead time required between application and approval, visualize unpaid amounts and bills to be processed, and support stronger governance. Confirming any data or processes during an operation is easy as this Solution specializes in AP with a user-centric operability. The result of a trial done at a particular user company, for example, revealed this Solution contributed to improving accounts payable billing process at 65 percent faster than with manual input, and 100 percent visualization of the full process flow allowed real-time monitoring of the status of bills being processed.
"Accounts payable management allows no errors," says Toshiharu Yoneyama, corporate vice president and executive general manager, Smart Work Innovation Business Group, Fuji Xerox Co., Ltd. "Through automation and greater use of IT by utilizing Esker's outstanding accounts payable automation software, we are happy to liberate our customers from repetitive work restraints – which is one of the values stressed in Fuji Xerox's value proposition strategy: Smart Work Innovation."
[Overview of the Accounts Payable Automation Solution]
Esker is a worldwide leader in cloud-based document process automation software, helping financial and customer service departments digitally transform their order-to-cash (O2C) and purchase-to-pay (P2P) cycles. Used by more than 6,000 companies worldwide, Esker's solutions incorporate technologies like artificial intelligence (AI) to drive increased productivity, enhanced visibility, reduced fraud risk, and improved collaboration with customers, suppliers and internally. 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 www.esker.com. Follow Esker on Twitter @EskerInc and join the conversation on the Esker blog at blog.esker.com.
[About Fuji Xerox]
Founded in 1962, Fuji Xerox Co., Ltd. is a leading company in the Document Services & Communications field, offering solutions and services to help customers resolve their business challenges. Underlying our solutions and services are our world-class office multifunction devices, printers and production printers that we develop and manufacture for worldwide distribution. Together with cloud and mobile solutions, Fuji Xerox builds a communications environment that enables our customers to access the right information, at the right time, and in the right form—thereby contributing to their valuable communications.
Fuji Xerox is a 75-25 joint venture between FUJIFILM Holdings Corporation and Xerox Corporation, and its direct sales force covers Japan and the Asia-Pacific region including China. As a 10 billion dollar enterprise, we employ approximately 45,000 people globally, with more than 80 domestic and overseas affiliates / sales subsidiaries. https://www.fujixerox.com/
Mayuko Tanaka email@example.com
Public Relations, Corporate Communications, Fuji Xerox Co., Ltd.
- Xerox, Xerox and Design, as well as Fuji Xerox and Design are registered trademarks or trademarks of Xerox Corporation in Japan and/or other countries.
- All other service and product names mentioned in this press release are registered trademarks or trademarks of the respective companies.