OpusCapita forecasts digitalization revolution in corporate purchasing and cash management
07.04.2016OpusCapita, a Nordic market leader in e-invoicing and financial processes, estimates that business ecosystems will undergo rapid digitalization in the coming years.
OpusCapita, a Nordic market leader in e-invoicing and financial processes, estimates that business ecosystems including corporate purchasing, invoice handling and payments, as well as cash management will undergo rapid digitalization in the coming years. The Nordic region is the leading e-invoicing market in the world with 40% penetration compared with global average of 8.4% (source: Billentis report 2015), but to date,these functions have remained surprisingly paper based.
To meet the increasing demand for control and compliance in the finance function, OpusCapita has sharpened its strategic focus to transform companies’ purchase-to-pay and cash management for the digital age. Machine learning and artificial intelligence are expected to further enhance the efficiency and quality of these processes to a completely new level. Digital and automated processes will provide companies with real-time visibility, compliance assurance, fraud detection, forecasting accuracy and cost savings.
The objective of a newly defined strategy is to make OpusCapita into a leader in the global buyer-supplier ecosystem. OpusCapita has 30 years of experience in working with both buyer and seller organizations, today processing over 600 million transactions annually of which 200 million in electronic form. This makes the company already one of the leading electronic invoicing networks in the world and the market leader in the Nordics.
OpusCapita aims to further strengthen its position in the consolidating Nordic market while transforming printed transactions to digital. The finance and accounting outsourcing business continues to enhance the automation and robotics capabilities in order to provide value-add to customers and strengthen its operations in Northern Europe. The strong experience gained from these operations is an important stepping stone for international expansion.
“OpusCapita is now ramping up its end-to-end solutions to make corporate buying, paying and cash management significantly easier. We aim to drive a disruptive change to automate transactions between businesses. We will base our international expansion on our cumulative experience and expertise in extended purchase-to-pay to the broader buyer-supplier ecosystem, in order to serve customers across the world,” said Patrik Sallner, CEO, OpusCapita.
The declining volumes in the traditional Nordic document business and mainly in mail delivery will only partially be offset by growth in e-invoices and digital document management. The strong position of the existing businesses in the Nordic markets will provide a solid foundation to invest in international expansion and new solutions. Acquisitions will also be considered to accelerate growth. Strategic partnerships will play an increasingly important role in both OpusCapita’s traditional markets and in the international expansion. To support the new strategy, OpusCapita has renewed its operating model with new management responsibilities taking effect as of 1 April 2016.
OpusCapita digitalizes and automates purchasing, invoice handling and payments, as well as cash management and supplier financing. With 600 million annual transactions of which 200 million electronic, we have the expertise to make buying and paying easier and more cost effective. You get end-to-end visibility, control and compliance of your spend and cash flow. In 2015 OpusCapita’s net sales were EUR 257 million and 2,000 professionals were serving 8,000 customers in 54 countries. Founded in 1984, OpusCapita is headquartered in Espoo, Finland and is fully owned subsidiary of Posti Group. To learn more, please visit www.opuscapita.com.
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