Xcellerate IT has been picked by St Vincent De Paul Society Queensland and TechnologyOne to implement an accounts payable automation solution using Kofax ReadSoft Online.
St Vincent De Paul Society Queensland is transforming its business with the latest TechnologyOne CiA platform and the Kofax ReadSoft Online software-as-a-service (SaaS)-based accounts payable model complemented its cloud strategy.
Prior to this implementation, the organisation was processing invoices manually and scanning documents after enabling a link to the transaction in TechnologyOne.
With the new solution in place, the accounts payable team can manage all of the on-boarding of invoices and reduce the majority of data entry, streamlining the lifecycle of supplier invoices with seamless integration into TechnologyOne CiA.
Xcellerate IT managing director Howard Boretsky said the new project with St Vincent’s strengthens its position as an accounts payable (AP) automation provider to TechnologyOne customers.
“The manual effort involved with supplier invoice processing frees up the accounts payable team to do more value added tasks and provides the ability to streamline auto general ledger coding for some of their expense suppliers plus detect fraud by matching the bank details on the invoice against what is kept in the master vendor tables in TechnologyOne, alerting the AP officer when there is a discrepancy,” he said.
Xcellerate IT is a Kofax platinum partner and uses Kofax software with more than 120 live customer sites, incorporating various accounts payable automation and document capture solutions.
Boretsky said while it was totally prepared for this project with current staff, it was in the process of hiring new senior developers as this corner of the market is very stimulated.
“We have been very successful in winning a lot of new customers and are planning our growth so we have the right people in place for the new calendar year. We are very excited about the forecast of what 2022 has to offer," he said.
Boretsky said he plans to stay focused with the right leadership team and invest in key market opportunities within the automation of accounts payable.
In July, Xcellerate IT won two contracts to integrate accounts payable solutions with Microsoft Dynamics 365 for Telstra Health and G8 Education.