Quadient and Xero, a cloud-based accounting software, have formed a strategic partnership in North America and the United Kingdom. Xero integrates with Quadient’s Accounts Payable (AP) capabilities to fully automate and streamline accounting processes.
Xero helps 3.95 million subscribers worldwide to run their business accounting online and in one place. When combined with Quadient’s AP automation solution, users benefit from seamless synchronization of all AP processes. From receiving invoices and purchase orders to inputting payment data, Quadient AP eliminates the need for manual data import or export, reducing the risk of human error, accelerating cash flow and giving businesses a clearer understanding of their AP status.
Combined with Xero’s proven expertise, Quadient AP—recently named a Leader in Quadrant Knowledge Solutions’ report SPARK Matrix for Accounts Payable Automation—enables customers to track and manage their finances more accurately. Data can be automatically collected and inputted into Xero using Quadient’s optical character recognition capability, which uses AI to eliminate 83% of data entry. This efficiency helps to reduce the average cost of processing an invoice from $16 to $2.
Prudence Musubi, senior accountant for ArcFyre International, a joint customer of Quadient and Xero, commented, “One thing that I love about the system is that it effectively eliminates duplicate payments, flagging such invoices for investigation. And I like the fact that once you code everything on the system, it’s a quick process. We can easily pull any report and verify if the content system has captured accurately the data in the invoices. We then know that the system is working perfectly. The onboarding of Quadient AP with Xero was smooth, and we are already seeing positive results from the streamlined process.”
“We are excited to welcome Xero to our growing partner program,” said Chris Hartigan, chief solution officer, Intelligent Communication Automation at Quadient. “Quadient’s strategy is to establish partnerships with the world’s major enterprise resource planning and accounting platforms to bring industry-leading technology solutions to our mutual customers. By partnering with Xero, we are expanding access of Quadient AP to more accounting teams so they can focus on deeper, more strategic decisioning rather than manual invoice and payment processing.”
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Tags: Accounting
