Below is our recent interview with Laurent Charpentier, COO and Chief Innovation Officer of Yooz:
Q: Please provide our readers with a brief introduction to Yooz.
A: Cloud P2P Automation. Easy. Powerful. Smart. That is the Yooz brand promise and is represented in every area of its business. Yooz is a fast-growing, multiple award-winning SaaS company that solves for today’s finance and accounting professionals’ top invoice processing challenges by providing innovative, cloud-based, procure-to-payment workflow automation. Yooz offers an intuitive, simple, secure processing solution that integrates seamlessly with more than 200 ERP platforms—more than any other solution on the market. It leverages and optimizes powerful features and smart technologies—A.I., machine learning, optical character recognition/OCR, robotics process automation/RPA—for a complete end-to-end workflow solution.
Q: You’ve recently reported 2018 record growth; could you tell us something more?
A: Yooz continues to innovate by leveraging emerging technologies like A.I. and machine learning to improve and enhance document classification, recognition, and fraud detection functionalities. While Yooz helps the companies it serves to scale gracefully, it is doing the same, doubling revenues in 2018. This means that it has doubled the volume of invoices that the Yooz platform process. It is amazing that a system that is scaling at that pace of growth is still able to sustain a 99.8% reliability rate overall. We’re very proud that we can offer that level of dependability to our clients.
Q: Can you give us insights into your solutions?
A: The Yooz cloud-based, customizable platform allows AP departments to streamline their payment processing workflows by combining the following functionalities:
•Innovative end-to-end AP automation technology, from receipt of invoice to paying the bill
•Intelligent document capture
•Proprietary character recognition, leveraging OCR (optical character recognition) technology
•Automatic matching of P.O. to invoice for approval
•Advanced business process and document management features
•Seamless integration with any ERP system
Yooz also provides the convenience and efficiency of mobility with the ability to access documents to approve, reassign, or comment on from a mobile device.
Q: Why is the cloud-based Yooz AP automation solution ideal for start-ups and small to mid-sized companies?
A: 1.You don’t have to be an accounting professional. The Yooz platform is so user-friendly with an easy implementation and onboarding process in as little as two to three weeks, that everyone on the team can be trained on the system. It’s only a matter of determining who will approve the invoices and submit them for payment.
2.One of our Yooz clients said to us during his AP automation provider discovery process, “Many of the providers we considered offered a 500-pound solution for our 10-pound problem. Yooz was the perfect fit. And it will scale as we grow.” At Yooz, the platform is customizable, so for small startups they only pay for what they need, and then we help them add on functionalities as they grow.
3.Teams at start-ups work around the clock and deal with many issues every day. They also typically have team-members that work remote, many times in other countries. The cloud-based Yooz AP automation solution is accessible 24/7 and from anywhere.
Q: What are your plans for 2019?
A: Some of the platform enhancements that Yooz is working on for 2019 will impact the areas of auditing and compliance, fraud detection, and adding intelligence to the processing and routing of other types of documents outside of invoices, creating additional workflows. The U.S. operation plans to increase staff by 50% and expand its office space, doubling its square footage, to accommodate its expected business growth.