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Neil Robertson, Chairman In theory, accounts payable (AP) holds the same implication for enterprises of all shapes and sizes. However, in practice, the notion is multifaceted based on an enterprise’s size and approach towards purchase and procurement. This is precisely why the market houses a plethora of AP solutions and services. On the one hand, some of these offerings are pretty holistic but pricey, putting it beyond the reach of many. While on the other, some offerings—especially the point solutions—tend to be rigid when it comes to broadening the scope of the very AP processes that they facilitate. Even the consensus about AP automation does not give due regard to the buyers’ convenience and preferences and is rather centred on facilitating the workflows of finance departments. Many players tend to forget that purchase and procurement are integral to payment. And while the pandemic induced remote work culture has made purchase and procurement all the more decentralized and online, the need for a purchaserfriendly solution that streamlines AP processes end-toend has become more imperative. Recognizing and addressing this need, Londonbased Compleat Software, goes above and beyond the traditional ideals of AP automation. The company brings the entire gamut of AP solutions to the table, some of which they’ve innovated with the prowess of cutting-edge technologies like AI and ML. Compleat further differentiates itself in the market with its intelligent packaging solutions that match the needs of any organization. Each solution plan is a progression of its predecessor, allowing companies to start small and grow big with respect to their evolving needs for AP automation. Understanding that procurement is a very nuanced aspect in context to AP processes, Compleat even offers services around procurement.
Befitting AP Automation Plans
For small to medium-sized companies that seek streamlined invoice processing, Compleat’s Supplier Invoice Automation plan provides a powerful digital invoice capture technology. “We don’t use a third party tool to capture invoices. A team of data scientists and AI experts have programmatically engineered our solution (CompleatCapture) to understand what exists on an invoice and where the AI needs to look to obtain the data. Page coordinates and algorithms are used to detect and provide accurate levels of extraction,” says Philip Douglas, CEO at Compleat.
Enterprises can easily define invoice processing workflows and can even capture invoices via a powerful mobile application. Compleat’s invoice automation platform integrates easily with most accounting and ERP tools in the market and has built-in capabilities to detect fraud by validating bank details or verifying cheques. What makes the solution unique is that it is intuitively location friendly. From the moment a registration occurs, all details, including tenant location, the language, currency, and taxation, are automatically extracted. As such, it can be up and operational within a few hours.
With an aim to provide a B2C-like experience on the B2B purchases forte, Compleat’s integrated Online Buying plan augments the company’s invoice automation platform with ready integration to more than 50 online B2B stores.
It enables automating order requisitions, creating pre-order workflows for approvals, and houses powerful reporting capabilities.
A Team of Data Scientists and AI Experts Have Programmatically Engineered Our Solution (Compleatcapture) to Understand What Exists on an Invoice and Where the AI Needs to Look to Obtain the Data
Further, Compleat’s Purchase to Pay plan, their most sought after offering, makes budget management more accessible to budget holders throughout any business. It features unlimited purchase order templates and helps users keep inventory in check with its powerful goods receipting capabilities. In addition to enabling users to check for budget availability in real-time, the plan also houses provisions for project-level budget management and access to powerful savings insights.
With its all-encompassing Digital Procurement plan, Compleat is upping the game in AP automation. The plan leverages efficient data capture tools that not only include vendor and invoice header information but also include every line-item code, description, unit of measure, quantity and price paid. The innovation, titled Advanced Spend Analytics (ASA), helps effectuate this plan as described by Neil Robertson, Chairman at Compleat, “With data that we hold at line level, no other provider can offer their customers insight into what they are buying, how often and how they compare, in addition to showcasing the gain savings for the business.” ASA provides real-time insights on supplier spend and performance (rating analysis), facilitates spend category analysis, and enables forecasting spend savings. “Because there is data from each invoice and every line from every supplier invoice, we are able to use our ASA tool to inform and predict spending patterns and also where to obtain savings from our customers spending activity,” adds Douglas.
As a part of the company’s service offering, Compleat has experts who can work like their clients’ dedicated procurement staff. They help clients in identifying and implementing best practices, gaining full spend reviews, AP consulting, and managing spend data.
With its well-packaged plans and novel products, Compleat stands out in the AP market with its capability to capture invoices and digitize all associated processes with little to no human intervention and by making buying easier for enterprises. As a result, businesses spend less time on manual tasks in AP like paper chasing, data entry and nudging budget holders for approvals. “Our Sales message is less about a prospect asking us how much our solution costs, and more towards, how much savings our system can achieve,” prides Robertson.
Excellence Driven by Partner Network and Customer Success
With their solutions—delivered through a growing global channel of resellers, software authors and e-commerce suppliers—Compleat is one of the only providers with inbuilt partner and white label capabilities.
From a small business working on AP automation to using very sophisticated purchasing processes, Compleat caters to all of its clients in the most effective ways. The company ultimately helps CFOs attain AP nirvana, where they can reroute their investment of time and energy from tediously streamlining various redundant nuances pertaining to and automate the whole thing. Needless to say, that effort can now be better spent, inferring spend analytics and making proactive purchasing decisions.
Having carved a unique niche in the AP Automation landscape, Compleat plans to broaden the scope of its novel solution offerings. To this end, they continue to develop out-of-box integrations with the many ERP and accounting software solutions in the market. The company is also eyeing global expansion across European countries and the US. Leading Compleat as GM North America, Bill Hammer would oversee the company growth in the US market. He brings rich experience with regard to ERP and CRM solutions and is also a business intelligence expert. “The one thing that we try to do is to be very transparent. We will let customers know that we’re entering the US market and that it’s going to be a very close working relationship because we strive to have very happy customers in this space. And the only way you can do that is by building solid relationships, listening, and taking in the suggestions that customers want or listen to, and by resolving their pain points,” concludes Hammer.
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Company
Compleat Software
Management
Neil Robertson, Chairman
Description
The company provides a holistic suite of AP automation solutions
