We continually enhance and automate your invoice flow, sharing updates quarterly to simplify your workday.
Welcome to the last product update of the year!
In this article, we've gathered the highlights from the last 2 quarters of 2024.
Catch up on the latest tips, news and insights in automation.
Product news 3rd and 4th quarter 2024:
- Degree of automation - where are you and where is Compello 🧐
- Introducing our strategic partner Vieri - how to automate your purchase-to-pay process!
- Great tips on how to easily set up an automation flow with rules from our consultant Helle!
Degree of automation
Yes, we talk a lot about this, but there's a good reason for it.
Degree of automation refers to the proportion of financial processes that can be performed without manual intervention. We have several customers today who automate over 90% of their invoice management processes! This is impressive!
Many companies have a satisfactory level, but there is often room for improvement, especially in areas such as manual data entry, voucher approval and follow-up. Effective system integrations and real-time monitoring of the invoice flow can contribute to a seamless workflow without delays.
By analyzing these factors, you can get a realistic understanding of your current position.
We have a north star we're working towards, with a goal of 90% automation across our entire customer base by 2028.
Where are we today?
The latest measurement shows that we are at an average automation rate of 72.29% among customers, a figure that has been rising all year!
The figure shows us that many customers have automated a lot, but there is still great potential to increase this level further.
Introducing our strategic partner Vieri!
Vieri and Compello have entered into an exciting partnership that makes it possible to fully automate the entire purchase-to-pay process.
By combining Compello's invoice flow and document management solutions with Vieri's expertise in streamlining purchasing processes, you can now achieve seamless digitization from purchase to payment.
This partnership gives businesses the opportunity to save time, reduce costs and ensure better control over financial processes - all through a fully integrated solution.
Helle's advice 🤗
Our skilled consultant Helle follows up with customers on a daily basis in both setup and maintenance, and knows most of the tricks in Compello.
Have you started using posting history?
Check out the interactive demo:
Sometimes she finds that not everyone uses all the functionality in Compello as they should. That's why she's put together two interactive demos for you to take a look at - maybe you'll learn a trick or two?
Do you know how easy it is to set up a rule-based flow for approval?
Check out the interactive demo here:
New releases:
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Improvements in deviation handling for PO/Order matching: We've optimized the process for identifying and correcting discrepancies between orders and invoices, speeding up handling and reducing sources of error.
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Copying data to Excel and Google Sheets: Now you can easily copy data from worklists and line items directly to Excel or Google Sheets, simplifying data analysis and sharing.
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Auto-posting of PDF invoices: Automatic assignment of accounting accounts is now also available for PDF invoices, streamlining the processing of incoming invoices.
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Navigation to first/last invoice page: We've added a feature that allows you to jump directly to the first or last page of an invoice. Brilliant if you have many pages in your appendix! Thanks for the idea Europris! 😀
Thank you very much for your tips and feedback via our Idea Portal!
This is what we are working on:
- Smart Scan - match on supplier name, expansion compared to the current solution where keys are required for supplier match
- Dashboard - new widget that gives the approver an overview of invoices that are "on their way"
- Accrual - extension with "To and From field" for accrual date
PS: Remember that you can always provide input and vote on ideas in our Idea Portal
Do you have any questions regarding product news?
Please contact Compello Support.
