Cloud computing powering automation in invoice processing

One year on since we started working with Oracle and our relationship goes from strength to strength. The partnership allows Previse to plug directly into Oracle’s clients existing ERP systems, enabling them to get up and running with Previse faster and more efficiently.

The capability allows nearly 6,000 Fusion ERP customers and over 16,000 NetSuite ERP customers to quickly provide access to the data in their ERP system. Our smart technology analyses this data to predict the very few invoices they receive which are unlikely to get paid. The rest can then be paid instantly by a funder, such as a bank or SCF provider. The buyer then pays the funder back on its normal payment terms.

By combining this data with machine learning and highly scalable computing from the cloud, Previse is able to, for the first time, accurately predict payment of invoices as soon as they are received.

This trend of emerging technologies enabling companies to lead the way in their industry was a key theme at Oracle Cloud Day NL last month. Many conversations focused on maturing of cloud, advancement of artificial intelligence (AI) and analytics, added-value practitioners, autonomous database and finance and supply chain.

Our Head of Partnerships, Margery McConnell, spoke at the event on a panel entitled ‘Solving Real Business Challenges through Co-Innovation’. Margery shared insights on how Previse’s collaboration with Oracle is helping suppliers all over the world get paid instantly.

As Previse is part of the Oracle Global Startup Ecosystem, we also exhibited in the “Future Lane” of the Exhibition Hall. Three of the four booths in our section were staffed by females and in the video below, Margery quipped, “the future is female.” We agree!

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