Zaggle introduces Zoyer!​

Summary

Zoyer is a data-driven, digital-first financial management platform that revolutionizes accounts payable processes. It digitizes 100% of payables, offering finance leaders insights to manage cash outflows and enhance business performance. With a zero-touch workflow, it automates invoice reception, matching, approval, and e-payment, supporting various payment methods for greater control. Powerful analytics provide real-time visibility and control over the payables process, enabling proactive, data-driven decisions. Built on Amazon Cloud, Zoyer integrates seamlessly with leading ERP, HRMs, and accounting systems, catering to the needs of growing businesses.

Takeaways

• 🌐 The global trend is towards digital-first financial processes, emphasizing the importance of accounts payable in modern business.
• 💼 Accounts payable teams are expected to be value-added providers, offering intelligence support for informed business decisions and optimizing working capital.
• 🔄 Current manually intensive accounts payable processes hinder finance leaders from performing more strategic roles.
• ⏱️ Accounts payable practitioners spend a significant amount of time, around 50%, on transactional tasks rather than on value-adding and creative work.
• 🚀 Introducing 'Zoyer', a data-driven business management platform with embedded finance capabilities that aims to digitize 100% of payables processes.
• 📊 Zoyer provides finance leaders with insights into enterprise-wide spends, enabling optimal cash outflow management and business performance maximization.
• 🔗 Zoyer establishes a zero-touch workflow for the full cycle of accounts payable, covering everything from supplier onboarding to invoice approval and payment.
• 📑 Invoices are automatically received and processed by Zoyer using a combination of optical character recognition and advanced machine learning models for efficient data entry.
• 🔍 The system matches invoices to purchase orders and goods received notes to identify and resolve any discrepancies.
• 📲 Reviewers receive notifications via email and WhatsApp to approve invoices, with the flexibility to configure approval workflows and routing logic.
• 💳 Approved payments are converted to e-payments and support various payment methods, including real-time payments and corporate cards, enhancing control over payments and working capital.
• 📈 Powerful analytics in Zoyer offer real-time visibility and control across the entire payables process, allowing businesses to make proactive data-driven decisions to manage cash flows.
• 🛠 Built on the Amazon Cloud, Zoyer supports a range of commercial models and integrates with leading ERP, HRMS, and accounting systems for optimized time to value.

Q & A

What is the primary goal of modern accounts payable teams in the digital-first financial processes?

The primary goal is to be a value-added provider of intelligence support to inform business decisions that optimize working capital and help businesses stay ahead of the curve.

Why do current accounts payable processes hinder finance leaders from being more effective?

Current processes are manually intensive, with practitioners spending 50% of their time on transactional tasks, which prevents them from engaging in more value-added and creative work.

What is the name of the platform introduced to manage accounts payable more efficiently?

The platform introduced is called Zoyer, a data-driven business spin management platform with embedded finance capabilities.

How does Zoyer digitize the accounts payable process?

Zoyer digitizes 100% of payables, providing finance leaders with insights into enterprise-wide spends and enabling optimal cash outflow management and business performance maximization.

What does Zoyer's zero-touch workflow cover in the full cycle accounts payable process?

Zoyer's zero-touch workflow covers the complete spectrum of capabilities from supplier onboarding to receiving, interpreting, and matching invoices against purchase orders, all the way through to approving and making payments.

How does Zoyer automate the invoice processing?

Zoyer automates invoice processing by leveraging optical character recognition and advanced machine learning models to extract header and line-level data from invoices, accelerating data entry.

What notifications does Zoyer use to facilitate the reviewing and approving of invoices?

Zoyer uses email and WhatsApp notifications to alert reviewers about invoices that require approval.

How does Zoyer support businesses in configuring their approval workflows?

Zoyer allows users to configure approval workflow tiers and routing logic to match existing accounts payable practices, providing complete flexibility.

What payment methods does Zoyer support for approved payments?

Zoyer supports a range of payment methods including real-time payments, immediate payment services, zaggle founder cards, corporate cards, and net banking.

How does Zoyer help businesses with working capital savings?

Businesses can leverage Zoyer's supported payment methods, such as zaggle cards for cash back and rebates on spend, or real-time payments for just-in-time payments when interest rates are high.

What kind of analytics does Zoyer provide to enhance visibility and control across the payables process?

Zoyer provides powerful analytics that offer real-time visibility and controls, allowing businesses to analyze key spend trends and gain insights for proactive, data-driven decisions to control cash flows.

On what cloud platform is Zoyer built, and how does it integrate with other systems?

Zoyer is built on the Amazon Cloud, and it supports a range of commercial models that can adapt to the needs of growing businesses. It also has pre-built connectors that integrate directly with leading ERP, HRMS, and accounting systems.