Andrej Glézl (CEO) Exchange Summit Conference October 2014
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Datamolino's CEO Andrej Glezl presented a solution forum at the Exchange Summit on e-invoicing in Barcelona on the 7th of October 2014. As the premier extraction and archiving tool for invoices, bills and receipts, we were proud to be offered the chance to share our story and our vision for the future of the industry.
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Andrej Glézl (CEO) Exchange Summit Conference October 2014
- 1. Andrej Glézl (CEO) Exchange Summit Conference October 2014
- 2. Service Searchable archive & data extraction People 20+ staff Customers SMEs Mission Enable our customers to benefit from AP processing technology Goals Increase the % of electronically processed invoices What is Datamolino?
- 3. Do customers (i.e. SMEs) know about electronic AP processing solutions? Basic knowledge of AP processing solutions Yes, I know about them No, I do not know about them Knowledge of such solutions is very poor. None of the existing platforms scored more than 5% recognition.
- 4. If there were such solutions, would customers be interested? Customer interest in potential AP processing solutions (%) 57% of all respondents would appreciate an application to optimize their AP processing. Professional accountants scored even higher – 1 in 3 said that they would definitely be interested in such a service. All Accountants SMEs definitely not most likely not maybe most likely yes definitely yes
- 5. Why would they be interested? simpler processing time savings more effective work less mistakes during data-entry better overview Reasons for customer interest (scoring based on relevance) new possibilities, technology not interested saving costs no more paper archiving quick search for receipts and invoices saving space for archiving time for myself maybe easier control other DK/NA
- 6. Why would they NOT be interested? different work habits we would not be able to use the service price the time saving is marginal we use a different software Reasons why customers would not be interested (scoring based on relevance) additional control would be necessary we prefer paper and do not trust the electronic form other DK/NA
- 7. What are the most important attributes of such solutions? Relevance of product features and benefits (%) price of solution security of solution simplicity of work having a searchable archive time savings financial savings quality of the extracted data 24/7 access to documents the speed of data extraction ability to automatically resend and share documents ability to start using such system immediately ability to decrease employment extremely important very important important less important not important
- 8. Other interesting considerations up to 40 up to 200 up to 400 up to 800 up to 2000 Average no. of invoices per month (%) over 2000 don’t know 2-3 times per week once per week once per 2 week once per month once per 3 months less frequently don’t know daily Invoice processing frequency (%) all of those interested in buying a product like Datamolino of those not interested in buying a product like Datamolino
- 9. Other interesting considerations simplicity of using such solution quality of data extracted from the scanned invoice/receipt speed of data extraction from invoice/receipt security of the solution price of the solution Considered as most beneficial (%) ability to have access to invoices/receipts from anywhere at anytime time savings achieved thanks to the solution ability to decrease workforce involved in invoice processing ability to use such solution immediately having a searchable archive to easily find any invoice/receipt ability to share receipts and invoices with competent personnel financial savings achieved thanks to the solution all by those interested in buying a product like Datamolino by those not interested in buying a product like Datamolino
- 10. Is price a determining factor in the uptake of an AP processing solution? Price is not a key determinant for those that are interested in an automated electronic AP processing solution.
- 11. Case study: What are the barriers to implementing an automated AP solution? Desktop solutions On-premise solutions Conservative attitude (paper prevails) Legislation (e-signature required for document dematerialization) Lack of standard data structures
- 12. What does the future hold for automated AP processing? Cloud accounting software AutomatizationAdd-ons to cloud software Standardized data structures
- 13. Lessons learned Customers want additional benefits from an AP processing product - not ‘just’ the elimination of data entry. Those that want to switch, will find a way irrespective of the legislation, those that don’t will find a reason why. Once a customer embraces the idea of going electronic, they usually want all the perks. It always takes longer than you think…
- 14. Thank you. Source: Datamolino Slovak market research, May-June 2014