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XCD launches its new corporate website!

PRAGUE, Czech Republic, August 16, 2021 — XCENTER DIGITAL (“XCD”), a leading technology-driven SAP Procure-to-Pay Automation Company focused on Enterprise Content Management and Vendor Invoice Management services and products for SAP to assist Accounts Payable and Procurement Departments worldwide is proud to announce the launch of its newly redesigned website at https://www.xcenter.digital. The new site features a streamlined, modern design, improved functionality, and easy access to essential information to help Finance and Accountants make well-informed decisions.

“We are thrilled to debut our new company website to our clients and partners, who are looking to understand the breadth of XCD’s ECM and Procure-to-Pay products and services for SAP,” said Petr Wozalik, XCD’s Managing Director. “This website redesign truly ties together all services and products related activities into one place and allows for each visitor to have a true learning experience, and thereby, create insights and ideas to further their digital journey”, said Carl Ellmer, XCD’s Sales Director.

XCD’s new website will be updated on a regular basis with news of product launches, customer successes, industry insights, and corporate milestones.

We look forward to meeting You on www.xcenter.digital!

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Still wondering if emailed PDF vendor invoices are legal in the EU?

“For the uptake of unstructured e-invoice, the Directive is considered as having played a significant role in the Member States in which it affected the applicable legal framework. Obviously, this is not the case in countries where the e-invoicing legal framework was already liberal (such as the UK or Scandinavian countries). In the other countries, it played a positive role by simplifying the pre-existing requirements (e.g. in Germany) or by providing economic operators with the legal certainty that paper and e-invoices were both valid for claiming VAT deduction (as in Poland and Romania). 

The simplification of the national frameworks mostly results from (i) the technology-neutral formulation of Article 233, and (ii) the, possibly unintended, effect of a lax enforcement of the BCAT option. Leaving companies free to use unsigned PDFs without burdening them with stringent internal control requirements was a key lever for promoting the diffusion of unstructured e-invoices. While the simplification was important, the increased legal certainty was crucial in the countries where companies did not trust exchanging PDF invoices for fear of being challenged during tax audits. This depends on the joint provision of the new definition in Article 217(*), which clearly states what an e-invoice is, and the equal treatment principle enshrined in Article 218(**).”

Source: “Study on the evaluation of invoicing rules of Directive 2006/112/EC” by the EU

  • Page 98: bold text in orange colour 
  • Page 32: “Equal treatment between paper and e-invoices”

Additional sources

(*) Article 217: “For the purposes of this Directive, “electronic invoice” means an invoice that contains the information required in this Directive, and which has been issued and received in any electronic format.”

(**) Article 218: “For the purposes of this Directive, Member States shall accept documents or messages on paper or in electronic form as invoices if they meet the conditions laid down in this Chapter.”

Optical Character Recognition – Best Practices

Download our free guide ‘OCR Best Practices

“Although the scanning of paper-based invoices isn’t considered e-invoicing, it is the natural first step for many organisations. Using Optical Character Recognition or ‘OCR’ software, the data can be moved from a paper-based format to a digital format that can be entered in the Accounts Payable system. Outside of EDI and invoice portals, OCR has been a predominant tool of choice to enable the digitization of invoices”.

Optical Character Recognition (OCR) technology is a hardware/software tool that takes a paper document, usually, an invoice, scans then “reads” it and turns it into metadata that can be used to populate fields in a database.

From there the invoice can be brought into an electronic workflow for processing. Using OCR software, the data can be moved from a paper-based format to a digital format that can be entered in the AP system. OCR is the electronic conversion (through scanning) of invoices without extractable data (either paper or image files) into data that can be integrated directly (as an EDI or XML file) into a buyers Accounts Payable finance system for payment.

Whilst OCR solutions enables organisations to automate their AP processes to a certain extent, there are restrictions that are inherent to OCR technology, and which limit its impact beyond achieving a semi-automated state, where human intervention and errors are part and parcel of the technology in question. After all, we speak of “recognition” and not “extraction” when referring to OCR. Fundamentally, OCR solutions are all based on a similar probabilistic technology and methodology. For instance, the number “1” vs. lowercase letter “L”, the number “0” vs. uppercase O, and so on. The latter is mitigated to some extent by the use of dictionaries (for example, “INVOICE” is more likely than “1NV0lCE”), but unfortunately invoice data such as the invoice number or the shipping reference, is usually not to be found in an OCR dictionary.

The challenge gets even more difficult when using OCR for invoice line item extraction. These inherent limitations of OCR result in varying accuracy recognition rates, which invariably requires human operators to check the results produced by OCR. Inaccuracies require manual intervention, leading to errors, long invoice processing time, and low percentage of “touchless” invoices or processed “straight-through”.

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XCD & B2Boost partner for E-invoicing with xTractor

PRAGUE, CZECH REPUBLIC – March xx 2021 — XCENTER DIGITAL (“XCD”), an innovative leader in cloud-based PDF data extraction technology, today announced its partnership with B2boost. B2Boost is one of Belgium’s fastest-growing technology companies and develops and operates sophisticated B2B e-Commerce solutions for the Entertainment, Telecom and other industries. XCD’s xTractor product achieves fast time to value for B2boost’s e-invoicing solution for Accounts Payable and Accounts Receivables, by eliminating paper invoices and errors, inefficiencies, and costs associated with them. Together we deliver the lowest friction option for supplier onboarding and enable you to receive and send all your invoices electronically.

 “The integration of xTractor with the b2boost platform provides an added value for our customers who want to fully automate their Accounts Payable communication if it’s not yet 100% machine-to-machine. The manual interventions in the processing of a paper and a PDF invoice are reduced as much as possible. This results in fewer errors and faster processing, whereby the b2boost platform always guarantees the legal aspect of the flow”, said Jan Eeckhout, Business Unit Manager B2B Automation B2Boost.

XCD’s xTractor instantly converts emailed invoices from suppliers 100% accurately into the digital format required for the buyer’s accounts payable process and thereby guarantees that automation is not eroded because of having to double-check entries for errors. XCD’s xTractor extends full invoice-data-extraction automation to PDF invoices emailed from supplier AR systems, eliminating the need for manual data entry. The main advantage of OCR is that it captures data from most document types and formats. “The biggest drawback of OCR is that it always necessitates human intervention to verify and validate data captured by it, because it can never guarantee 100% accurate data capture. The biggest challenge faced by e-invoicing is the on-boarding of suppliers, which causes paper invoices to remain in the process whilst the anticipated benefits of e-invoicing fail to materialize. Capitalizing on PDF invoices received via email as well as using xTractor ensures that a larger number of suppliers quickly transacts fully electronically. XCD chose to partner with B2boost in view of its deep technical expertise and legally compliant e-invoicing offering throughout Europe and beyond”, said Carl Ellmer, Sales Director XCD.

 

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Global Automobile Leasing Leader selects XCD’s PDF e-invoicing

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.”

Disclaimer

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. 

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Bridgestone extracts PDF data 100% exact with xTractor

PRAGUE, Czech Republic, December 31 , 2020 — Bridgestone, a renowned global market-leading tire manufacturer selected XCD’s xTractor vendor invoice automation solution to maximize efficiency and digitize their Accounts Payable process through easy electronic invoicing.

Bridgestone Europe was looking to transform their finance operations by further optimizing their vendor invoice process in SAP, through effective automation. xTractor is a proprietary solution that extracts data 100% accurately from a so-called ‘[software] application-generated’ PDF file. xTractor then automatically converts the extracted data to an xml, ubl, csv, isdoc, or other structured file formats which then feeds into Bridgestone’s SAP-integrated AP workflow solution called ‘xSuite Invoice Cube’ (formerly known as ‘xFlow Invoice SAP’).

At Bridgestone , xTractor is progressively being deployed to a steadily increasing number of suppliers, alongside Bridgestone’s SAP Ariba deployment. With xTractor, Bridgestone is achieving near-touchless invoicing whilst speeding up processes, reducing costs, and improving transparency.

“xTractor empowers us to extract vendor invoice data from PDF files received via email 100% accurately, and convert these extracted data to genuine e-invoices that assist greatly with straight-through processing of vendor invoices” said Maciej Mroczkiewicz, Procure-to-Pay Team Leader, Bridgestone Europe.

A comprehensive vendor search revealed XCD’s xTractor strength in the marketplace because of its 100% accurate invoice data extraction every time, at both header and line level.

” xTractor capitalizes on the fact that PDF invoicing is the most popular e-invoicing method globally. If today your suppliers are sending PDF invoices attached to emails then xTractor can convert these PDF invoices into genuine e-invoices – zero supplier onboarding required!” says Carl Ellmer, Sales Director at XCD. “We look forward to playing an important role in the success of Bridgestone as they drive their SAP Accounts Payable process forward towards Touchless invoicing.”

Webinar_xT invoice SAP

Learn how to extract PDF invoice data 100% accurately to SAP

Audience: Accounts Payable (Team) Leaders, Head of Accounts Payable, Digital Transformation Manager & Leader, CFO

Topic: xTractor enables 100% accurate data extraction from PDF documents. . xTractor is a data capture, data-mapping and file format conversion tool designed specifically to extract data 100% accurately from ‘digital’ or ‘application-generated’ PDF documents.

Date: 15th January 2021

Venue: Zoom Webinar – link xxxx

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Global Transport company selects xTractor for invoice automation

PRAGUE, Czech Republic, May 10, 2020 — With a business system from SAP in place, this world-leading transport company already had good support for many of their business processes, but their accounts payable routines were still cumbersome and manual.

XCD’s automated PDF invoice data extraction solution for SAP was therefore a logical investment. The deal was made in the Czech Republic and the implementation and ongoing servicing will be carried out through an XCD BPO partner.

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.

“Multinational companies are one of our focus areas, and our solutions are well suited for handling the extensive requirements of such organizations,” comments Carl Ellmer, Sales Director at XCD. “Invoice processing in SAP is an area where we are very strong and this order is yet another proof of that. We are certain that this customer will get solid business value and substantially improved accounts payable processes in the years to come.”

Disclaimer

Within this press release, XCD’s customer is not mentioned by name due to the fact that 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. 

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STIB-MIVB selects xTractor for PDF e-invoicing

PRAGUE, Czech Republic, November 12 , 2019 — STIB – MIVB, the Brussels Intercommunal Transport Company, essentially the local public transport operator in Brussels, Belgium;  selected XCD’s xTractor PDF vendor invoice extraction product to make the most of their SAP-based Accounts Payable process through easy, smart electronic invoicing.

STIB – MIVB was seeking to digitize their Accounts Payable process and further optimize their vendor invoice process in SAP. xTractor is a proprietary solution that extracts data 100% accurately from a so-called ‘[software] application-generated’ PDF file. xTractor then automatically converts the extracted data to an xml, ubl, csv, isdoc, or other structured file formats which then feeds into STIB – MIVB’s SAP-integrated AP workflow solution called ‘xSuite Invoice Cube’ (formerly known as ‘xFlow Invoice SAP’).

“xTractor is a powerful tool that enables us to convert text PDF files into true e-invoices. Once accurately data-mapped, PDF invoices received by STIB via email require no manual intervention, and the extracted data goes straight to SAP” said Sandra Spano, Manager Finance Solutions, STIB – MIVB.

A comprehensive vendor search revealed XCD’s xTractor strength in the marketplace because of its 100% accurate invoice data extraction every time, at both header and line level.

” xTractor capitalizes on the fact that PDF invoicing is the most prevalent e-invoicing technique worldwide. If today your suppliers are sending PDF invoices attached to emails, then xTractor can convert these PDF invoices into true e-invoices – no supplier onboarding required!” says Carl Ellmer, Sales Director at XCD. “We look forward to playing an important role in the success of STIB – MIVB as they progress their SAP Accounts Payable process forward towards Touchless invoicing.”

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UiPath and XCD partner together for RPA for SAP

PRAGUE, Czech Republic, August 21, 2019 — XCD signs a ‘Technology Alliance Agreement’ with  UiPath Inc., and becomes a certified Silver Partner.

Technological advancements such as xTractor for RPA™ are making it easier for organisations to take advantage of the benefits of Robotics Process Automation (RPA) by reducing the dependence on human intervention (“attended RPA”).

Key to any successful RPA project is that the inputs should be in a readable digital input type (Excel, Word, email, XML, CSV, text PDFs, etc.) – and the more structured this readable electronic input is, the better the result. Robotic process automation 2.0, often referred to as “unattended RPA” is the next generation of RPA related technologies.

Robotics Process Automation (RPA) technology is believed to save companies huge amounts of time and money, so it’s not much of a surprise to see Gartner estimating the market for this type of software will reach $2.4 billion a year by 2024, from just $850 million today. Gartner also said RPA is the fastest-growing sub-segment of enterprise software it tracks, with an annual growth rate of 63% in 2018.

Processes that benefit most from RPA are highly manual and repetitive, rule-based with clear and standardised processing instructions, mature and stable, low exception rates, and preferably long-term. Most organizations rely on optical character recognition (OCR) to ‘supply’ the readable digital input for their RPA driven processes. However, OCR technology is not perfect and therefore even close to a 100% OCR accuracy rate does not exist. The fact is also that certain business processes simply require 100% accurate data capture rates to eliminate the need human supervision and achieve true “unattended RPA”.

XCD’s xTractor for RPA’:

  • xTractor for RPA™ facilitates next gen “unattended RPA”
  • Generate 100% accurate and standard input for RPA robot (XML, UBL, CSV, cXML,…), thereby eliminating the need for human intervention entirely at data input level
  • Create input specifically created for RPA (i.e. data posted to be used by the robot),including input structure, location and field unique identifiers