Palette Launches New Cloud-Based Solution for Invoice Processing, PaletteOnline

25 October 2011

Leading purchase-to-pay specialist introduces new, rapid-deployment cloud solution for more efficient invoice handling from receipt to payment.

Palette, the leading enterprise purchase-to-pay specialist is launching a new cloud-based solution, PaletteOnline, to give companies fastest possible access to easier and more efficient invoice processing, with minimal set-up and configuration.

The new invoice management service will enable businesses of any size to benefit from an automated, paperless invoice processing solution in a matter of days, helping to improve customers’ accounts and reduce costs.

The service uses PaletteInvoice’s flexible web-based architecture to give users secure access in the cloud to their invoices for checking, authorisation and detailed reporting. This gives businesses complete visibility of and access to their supplier invoices from any location with an internet connection.

PaletteOnline is available in three versions, PaletteOnline Unplugged, PaletteOnline Express, and PaletteOnline Arena:

PaletteOnline Unplugged is aimed at smaller companies, companies in the process of changing financial systems, or those wanting to trial an automated service. Integration with ERP is done by exchanging information with file(s) in standardised format, which gives the fastest possible deployment, without limiting product functionality.

PaletteOnline Express uses the most optimised setup of PaletteInvoice with readymade web service integration to the market’s most popular finance and ERP systems. PaletteOnline Express manages the entire invoice scanning and authentication process securely in the cloud. This service deploys within a few days, and is aimed at users processing between 2,000 and 25,000 invoices per year.

PaletteOnline Arena is the complete package, which includes the features from Express and Unplugged to provide a comprehensive system, aimed towards companies that require a bespoke process to meet their needs. With PaletteOnline Arena, the customer can use all the functions and modules of the Palette product family including line level matching, and Buyer for purchase management.

Lars Ola Petters, Palette’s CEO, said: “For many companies, it’s a big decision to introduce an automated invoice processing system because of the costs and deployment time required by traditional solutions. PaletteOnline removes this threshold and make the transition to automated invoice processing as easy as possible.

“Our cloud-based solution gives customers a truly seamless method for managing their supplier invoices more efficiently, delivering real, ongoing savings in both costs and time.”

Getting started with PaletteOnline is simple: users select the package they require, choose how they wish to receive invoices, then provide basic company information to enable Palette to configure the customer solution. Functions including on-line scanning of invoices and connections to customer ERP systems are then tested, and the system is made live.

User subscription is simple and efficient, as customers are charged per invoice, so only pay for what they use. PaletteOnline can process e-invoices or handle paper-based invoices via the following methods:

• Self-scan and verification by the user with any commercially available systems such as Readsoft and Kofax
• Scan locally but verify in the cloud (no local installation necessary)
• Use a service bureau that takes care of incoming invoices, from receiving to sorting and scanning. Customers will then receive the invoices in the PaletteOnline system.

This helps to streamline administrative duties, resulting in a more efficient, and effective all-round AP system. The solutions link to customers’ ERP systems through a secure web service, giving seamless, safe communication between the two. Once approved, all incoming invoices are securely stored with the corresponding postal information.

Finance departments will also experience a wide range of instant benefits, such as reduced workload, better control, and reduced costs.

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