DISRUPTIVE FINTECH CLEARED AN ENTIRE WORKFLOW IN A FEW SECONDS!

Exceeders interview with a member of the Accounts Payable Department at an MNC

I'm finding it hard to understand what an invoice management software is meant to achieve. I've received a few ads and was curious enough to click through, and figure out what this hype about invoice management software was all about.

First off, I am an account payable professional at an MNC, which only meant one thing: "I handle a ton of invoices for the departments I govern."

We currently have an accounting software that was supposed to simplify our workflow, make our lives more comfortable, and believe me it has. I can’t imagine working without it! However, we still have plenty of trouble managing our flow of invoices. It's extremely tense, nerve-wracking, quite complicated, and very tiring!

One day, I clicked through to this ad I received on social that spelled out: "INVOICE SUBMISSION PLATFORM - 3 MONTH FREE TRIAL" an excellent short video previewing the software was on auto-play.

I was called by the company that had published this ad and was presented a straightforward solution over a conference call; the presentation lasted for a few minutes, and I was asked to provide a convenient time to meet.

It wasn’t clear to me yet, how an invoice management software will make an entire accounting software any better…

Over the meeting's duration, I was told about what disruptive technology meant. I've heard the term before, and always considered a clear, bright future, 20 years from now, made up of invisibly connected grids! "Technology is going to take over… that’s all it used to mean to me".

Now I understand how! Disruptive technology, as the name states, is meant to disrupt existing technologies. This means that a single new technology may replace three older ones. 

That is what this INVOICE SUBMISSION PLATFORM was advertising! It was meant to facilitate the entire invoicing process in simple seconds!

We had so many problems dealing with invoicing, for instance:

• We had too many systems working simultaneously, managing a simple transaction.
• Our people sometimes forgot to submit their invoices along with their purchases.
• They promised imaginary timelines to suppliers and expected payments to be released immediately.
• New suppliers delayed our process as most of the times, and their contact details were provided later in the transaction.
• Collecting invoices, work completion reports and purchase orders, usually turned up a transactional mess with missing documents, complex cataloging, filing, and overall organizing.
• Recollecting any lost or poorly stored documents was very tense, and timelines became harder to manage by the day.
• FINALLY, the entire process was manual!

Whatever happened to the digital transformation? This is the 21st century, and a solution for easy invoice management shouldn’t have been so hard to innovate.

Luckily, I had received that ad on social and realized how much easier it was for me to submit, manage, and process my complicated invoicing process within a few seconds, literally.

• Dropdown a menu select my customized type of invoices
• Type a few contact details in
• Upload documents, Invoices, POs, PIs…etc.
• DONE! It was all registered, authorized, and automated for approvals  

Our bulk transactions were recorded, tracked, and automated in a few clicks through our smartphones!

I wonder what invoicing will look like 20 years from now. As for now, you may be facing some of the same issues I mentioned.

Click the button to learn more about this disruptive technology.  

Exceeders: Disruptive technology, ISP - Invoice Submission Platform - clears entire workflows in a few minutes!