Fuji Xerox brings accounts receivable solution to APAC
Fuji Xerox is bringing its Esker Accounts Receivable solution to Asia Pacific after expanding its partnership with business process and document automation provider Esker.
The AI-driven, cloud-based solution enables intra-team collaboration and is compliant with standards in over 60 countries.
Fuji Xerox points to estimates from Bruno Koch that approximately 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 significant areas of accounts receivable (AR), from invoice delivery and credits and collections, to cash application and payments.
It 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 and claims that the solution has helped the company reduce costs by 22% and enjoy faster payment cycles.
The company says that by eliminating manual data entry and digitising the invoicing process, Fuji Xerox Singapore has reduced the average time required to create and deliver an invoice from nine to three working days.
"We are eager to expand our partnership with Esker and bring their AR solution to businesses across APAC," says Fuji Xerox corporate vice president and advanced services business group executive general manager Amane Inoue.
"It 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, designed for faster and more efficient work between clients and suppliers.