Charbax | Yooz: Automating Accounts Payable with AI & Smart Workflows | Company Overview at Swiss IT Forum @charbax | Uploaded September 2024 | Updated October 2024, 1 week ago.
Yooz is a specialist in accounts payable solutions, focusing on the entire process from purchase to payment. Yooz, headquartered in the south of France with offices in the United States, operates in over 40 countries. Their primary mission is to provide automated workflow solutions for accounts payable, aiming to streamline processes and improve efficiency in various organizations. Automation plays a key role in their service, where they manage tasks such as purchase order creation, multi-channel capture, General Ledger (GL) coding, Purchase Order (PO) matching, and payment approvals.
The Yooz platform offers an all-in-one solution that simplifies the accounts payable process. Starting from purchase orders and purchase requests, Yooz enables companies to capture data from multiple sources, review, and automate essential tasks such as GL coding and PO matching. With smart workflows, they handle the approval and rejection of transactions and prepare payment files, exporting them for completion. This end-to-end automation of workflows allows companies to save time and reduce errors, making Yooz a valuable asset for businesses looking to improve their accounts payable efficiency.
Yooz primarily serves companies that are still engaged in repetitive, manual tasks, aiming to reduce administrative costs and ensure compliance with regulatory requirements. Such companies are increasingly in need of Yooz's technology, especially as governments in France and other European countries implement stricter legislation regarding financial processes. By adopting Yooz's solutions, companies can adhere to these regulations more effectively while also optimizing their internal workflows.
In terms of partnerships, Yooz collaborates with major consultancy firms such as KPMG and EY, as well as over 200 other companies that have already integrated their solutions. These partnerships demonstrate Yooz’s ability to cater to a wide range of clients across various industries. A key achievement highlighted by Thomas Ree is Yooz's ability to significantly reduce the time taken to process invoices. What previously took up to three weeks can now be done in as little as three to four days, indicating the efficiency gains companies can expect when using Yooz.
Yooz's cloud-based platform is versatile and suitable for both small and large businesses. It can handle everything from smaller projects with fewer invoices to massive undertakings involving over 40,000 invoices per month. The platform helps identify and eliminate manual errors, fraudulent activities, and other inefficiencies that are common in traditional accounts payable processes. Yooz's use of Artificial Intelligence (AI) and Optical Character Recognition (OCR) technology enhances its ability to capture, extract, and process invoice information accurately.
Currently, more than 200,000 companies across 40 countries are using Yooz's solution, with a strong presence in France, the United States, the United Kingdom, and Spain. The company is actively expanding its reach to other regions, including South Africa, Switzerland, Belgium, and Luxembourg. Yooz aims to become a leading provider of accounts payable automation on a global scale, helping businesses worldwide streamline their workflows and reduce administrative burdens.
In terms of competition, Yooz identifies companies like Odoo as potential competitors but also maintains partnerships with them. Unlike an Enterprise Resource Planning (ERP) system, Yooz is not an ERP itself but rather a complementary solution that integrates with over 250 different ERP systems. This interoperability makes Yooz a flexible and adaptable solution for companies using various ERP platforms, enhancing its appeal across different markets.
Regarding pricing, Yooz offers a personalized and customizable service based on the client's needs. For example, a company processing around 100 invoices per month might expect to pay between 90 to 100 EUR monthly for Yooz’s services. This flexibility in pricing ensures that companies of all sizes can find a solution that fits their budget while benefiting from Yooz’s automation technology.
Description by Chatgpt.
This video was filmed at Swiss IT Forum(s) 2024 in Geneva Switzerland, check out all my Swiss IT Forum videos here: youtube.com/playlist?list=PL7xXqJFxvYvgk4upSBTibrBuMcgvNjlEq
This video was filmed using the DJI Pocket 3 ($669 at amzn.to/4aMpKIC using the dual wireless DJI Mic 2 microphones without a lapel amzn.to/3XIj3l8 ), watch all my DJI Pocket 3 videos here youtube.com/playlist?list=PL7xXqJFxvYvhDlWIAxm_pR9dp7ArSkhKK
Join youtube.com/charbax/join for Early Access to my videos as soon as I upload them before they go public.
Yooz is a specialist in accounts payable solutions, focusing on the entire process from purchase to payment. Yooz, headquartered in the south of France with offices in the United States, operates in over 40 countries. Their primary mission is to provide automated workflow solutions for accounts payable, aiming to streamline processes and improve efficiency in various organizations. Automation plays a key role in their service, where they manage tasks such as purchase order creation, multi-channel capture, General Ledger (GL) coding, Purchase Order (PO) matching, and payment approvals.
The Yooz platform offers an all-in-one solution that simplifies the accounts payable process. Starting from purchase orders and purchase requests, Yooz enables companies to capture data from multiple sources, review, and automate essential tasks such as GL coding and PO matching. With smart workflows, they handle the approval and rejection of transactions and prepare payment files, exporting them for completion. This end-to-end automation of workflows allows companies to save time and reduce errors, making Yooz a valuable asset for businesses looking to improve their accounts payable efficiency.
Yooz primarily serves companies that are still engaged in repetitive, manual tasks, aiming to reduce administrative costs and ensure compliance with regulatory requirements. Such companies are increasingly in need of Yooz's technology, especially as governments in France and other European countries implement stricter legislation regarding financial processes. By adopting Yooz's solutions, companies can adhere to these regulations more effectively while also optimizing their internal workflows.
In terms of partnerships, Yooz collaborates with major consultancy firms such as KPMG and EY, as well as over 200 other companies that have already integrated their solutions. These partnerships demonstrate Yooz’s ability to cater to a wide range of clients across various industries. A key achievement highlighted by Thomas Ree is Yooz's ability to significantly reduce the time taken to process invoices. What previously took up to three weeks can now be done in as little as three to four days, indicating the efficiency gains companies can expect when using Yooz.
Yooz's cloud-based platform is versatile and suitable for both small and large businesses. It can handle everything from smaller projects with fewer invoices to massive undertakings involving over 40,000 invoices per month. The platform helps identify and eliminate manual errors, fraudulent activities, and other inefficiencies that are common in traditional accounts payable processes. Yooz's use of Artificial Intelligence (AI) and Optical Character Recognition (OCR) technology enhances its ability to capture, extract, and process invoice information accurately.
Currently, more than 200,000 companies across 40 countries are using Yooz's solution, with a strong presence in France, the United States, the United Kingdom, and Spain. The company is actively expanding its reach to other regions, including South Africa, Switzerland, Belgium, and Luxembourg. Yooz aims to become a leading provider of accounts payable automation on a global scale, helping businesses worldwide streamline their workflows and reduce administrative burdens.
In terms of competition, Yooz identifies companies like Odoo as potential competitors but also maintains partnerships with them. Unlike an Enterprise Resource Planning (ERP) system, Yooz is not an ERP itself but rather a complementary solution that integrates with over 250 different ERP systems. This interoperability makes Yooz a flexible and adaptable solution for companies using various ERP platforms, enhancing its appeal across different markets.
Regarding pricing, Yooz offers a personalized and customizable service based on the client's needs. For example, a company processing around 100 invoices per month might expect to pay between 90 to 100 EUR monthly for Yooz’s services. This flexibility in pricing ensures that companies of all sizes can find a solution that fits their budget while benefiting from Yooz’s automation technology.
Description by Chatgpt.
This video was filmed at Swiss IT Forum(s) 2024 in Geneva Switzerland, check out all my Swiss IT Forum videos here: youtube.com/playlist?list=PL7xXqJFxvYvgk4upSBTibrBuMcgvNjlEq
This video was filmed using the DJI Pocket 3 ($669 at amzn.to/4aMpKIC using the dual wireless DJI Mic 2 microphones without a lapel amzn.to/3XIj3l8 ), watch all my DJI Pocket 3 videos here youtube.com/playlist?list=PL7xXqJFxvYvhDlWIAxm_pR9dp7ArSkhKK
Join youtube.com/charbax/join for Early Access to my videos as soon as I upload them before they go public.
