XCENTER DIGITAL, 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”,
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