PRAGUE, Czech Republic, February 12 , 2021 — A global leader in automotive leasing is harmonizing their SAP-based accounts payable process towards a global solution to handle supplier invoices. Based on a market research conducted by the client in 2019, XCD was selected as a sub-contractor to the client’s main technology partner for incoming [vendor] PDF invoices. As a result, in January 2020, the client and XCD embarked on a project to deliver a pilot for vendor invoices for the client’s Austrian subsidiary by the end of June 2020. The pilot aimed to result in a global deployment and roll-out of XCD’s xTractor solution to 31 countries, over a period of five years. The objective is also to ultimately process in excess of a million vendor PDF invoices received from suppliers per year with xTractor. We’re thrilled to announce that xTractor will be deployed to an additional 4 countries in the second quarter of 2021 – with of course more countries to follow.
XCD in cooperation with a Dutch E-invoicing specialist, will partner together in view of automating the client’s vendor invoice process, by deploying xTractor’s PDF data extraction technology to automate client’s data capture processing of PDF vendor invoices.
XCD’s xTractor solution will enable the company to automatically digitize incoming invoices by effortlessly and flawlessly extract 100% accurate invoice data every time, and inject the converted electronic data directly in the Customer’s accounts payable electronic workflow. This will make the accounts payable process faster and eliminate human intervention entirely. The solution also includes extensive monitoring capabilities.
“The prospect of automating a vendor invoice process with over a million invoices per year and spanning 31 countries, is clearly a major milestone for XCD as a company, and yet another confirmation that xTractor’s innovative PDF data extraction technology makes easy and smart e-invoicing a reality” said Carl Ellmer, Sales Director at XCD. “We are convinced that our client will obtain great value and significantly enhanced SAP accounts payable processes as a result.”
Within this press release, XCD’s customer is not mentioned by name because the customer in question has requested to remain anonymous. This is information that XCENTER DIGITAL s.r.o (“XCD”) is obligated to disclose in accordance with the Financial Instruments Trading Act. The information was submitted for publication on May 7, 2019 at 11.30 CET.