Openprovider X Twinfield Case study

INTRODUCTION

Openprovider is one of the world's leading Domain registrars, managing around 3 Million Domain names for thousands of clients across the globe. They are also innovators, taking part in the development of new tech solutions such as Procys.

Due to the company's rapid growth, Openprovider's finance team was overloaded with work and struggling with the invoicing process. For this reason, they decided to invest in a new project that could meet their needs and streamline the daily operation of the team.

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''At the time, we wanted a smart solution to integrate with our accounting software (Twinfield), but we didn't find one. That’s why we decided to invest in an AI-powered solution like Procys. Today we are seeing the benefits of that decision’’

  Arno Vis, CEO - OPENPROVIDER

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THE CHALLENGE

Openprovider's Account Payable team handled invoices manually, causing them to face various issues:

• Manually processing hundreds of invoices overburdened the team, delaying the closing of accounts and taking away valuable time needed for other tasks.
  
  
• Sometimes there were payment delays due to data entry errors.
  
  
• Poor invoice management. Receiving invoices from different channels and formats (email, pdf, paper...) resulted in a lack of control.
  
  
• Lack of Value-added Reports for the board to make business decisions.  
• The finance team needed a solution that could integrate with Twinfield without a complex implementation process.
  

THE SOLUTION

Openprovider solved these issues by incorporating Procys, which automates the invoice data extraction from any format using machine learning technology.

• The OCR technology of Procys helps the AP team save time and costs by automatically extracting the invoices' data in less than 30 seconds.  
• Data entry errors are not a problem anymore thanks to the self-learning engine of Procys, which improves accuracy and recognizes previous mistakes.  
• Openprovicer has improved invoice management thanks to having all the invoices digitized and archived in one place.  
• Procys was fully integrated with Openprovider's accounting software without any difficulty, enabling the AP team to close their books faster.

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‘’Procys has boosted the performance of our team and the company. It has freed up time that now we use for more valuable tasks.’’

 Pulkit kakar, CFO - OPENPROVIDER