The consensus opinion seems to be that there is a lot of opportunity for invoice automation in the midmarket.has been pursuing that space for several years now. Recently, the Toronto-based ISV released a new version of its docAlpha automated data capture software that features multi-tenant deployment capabilities, as well as new reporting and workflow features. Artsyl also continues to roll up partners designed to help it penetrate the mid-market accounts payable (A/P) space.
“We have made the mid-market our focus—medium businesses and small enterprises,” said Jeffrey Moore, chief sales officer for Artsyl. “We don’t want to go into the enterprise and compete with market leaders like ReadSoft and Kofax. Their branding and funding makes them strong in those markets. We focus where they are weaker and not able to scale down.”
Last time we talked with Moore, Artsyl was focused on increasing its partnerships in the ECM space [see DIR 10/10/14]. It had signed deals withand all of which remain in place. In fact, docSTAR recently announced a sale of its Smart AP Automation software, which includes Artsyl’s technology, to a wholesale trader of petroleum products headquartered in the Bahamas. Artsyl also recently announced integration with ECM software from
“Recently, we’ve shifted to looking for more ERP-centric document management partners,” said Moore. “This includesand which focus on the Dynamics space. We also have a partnership with which focuses on the space, and whose WebDocs software integrates with ERP software from and others. We recently wrote an integration to doc-link, which is big in the Epicor and markets. “And while we will continue to work with ECM companies, especially those that have specific integrations into ERP systems, we have been building our own connections to ERP systems. We have built direct connections to Microsoft Dynamics, Sage, and We are working on and ERP integrationsthat we will introduce later.”
As Artsyl moves more aggressively into ERP integration, it saw the need to introduce more workflow capabilities into docAlpha, which is included in version 5.0, announced last week. “We want to deliver whatdefines as smart process applications,” Moore told DIR. “This means that we don’t just provide capture, but capture with intelligence and feedback.
“Yes, you need to be able to automate capture from content with data extraction and validation. But, you also need to be able to move that content around. So, we’ve introduced workflow for dynamic splitting and routing.
“For example, many organizations receive a combination of PO-based and non-PO- based invoices. If there is a PO and its total and subtotals match the invoice, maybe that invoice can be sent straight through for payment. If there is no PO, the invoice might need to be sent to a department manager for approval. Through our software, that manager can now receive an e-mail notification. Also, if an item sits too long in a queue, it can be escalated. The whole idea is to help users capture their data into their applications and images into their repositories with the least amount of effort.
“We realize a lot of our ECM partners already have a workflow component, so they may choose not to use our workflow. But, where the ECM system does not have strong workflow, or where the partner doesn’t sell ECM, they now have a complete solution from us that they can offer. Our pricing is based on a combination of modules and the volume of documents being processed.”
docAlpha 5.0 also introduces improved reporting. “Users can now see what is going on in real time in their workflows,” said Moore. “They can see how many invoices they have, for example, how many have been approved, and other key performance indicators.”
Its new multi-tenancy feature makes docAlpha 5.0 cloud friendly. “We will be offering our own instance hosted on AWS that VARs will be able to license,” said Moore. “We will also make it available to ISV partners as a white label solution that they can host themselves. We already have some ISV partners testing it out.”
Further expansion planned
docAlpha is the generic name for Artsyl’s capture platform. “docAlpha is really a platorm, and on top of that we can plug in logic aimed at specific solutions,” said Moore. “Currently, we have InvoiceAction and ClaimAction solutions (for health insurance claims). They employ a combination of extraction and business logic, as well as rules. We also have a toolkit that can be used to build other customized solutions.
“For the past two and a half years, we have really focused on A/P automation and driven that message. Our plan now is to build out some additional horizontal solutions, before circling back and addressing some verticals. Over the next 12-18 months, we are looking at coming out with sales order, remittance, and expense receipt processing solutions.”
Artsyl is also looking to expand geographically and planning to introduce support for Spanish, French, German, and Russian languages this summer. “Right now, our business is primarily in North America, with a small amount in the U.K. and Australia,” said Moore. “With our July release, we are focused on expanding heavily into Europe and Latin America.”
For more information: http://bit.ly/docAlpha5