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News Release

ITESOFT.Balance Achieves Oracle Validated Integration with Oracle E-Business Suite
Released: 14th November 2013
Publisher: ITESOFT

ITESOFT’s award winning automated invoice processing technology can reduce costs associated with manual processing.

November 14, 2013 - ITESOFT, a Gold level member of Oracle PartnerNetwork (OPN), is proud to announce that ITESOFT.Balance 2.5 has achieved Oracle Validated Integration with Oracle E-Business Suite 12.1. ITESOFT.Balance automatically integrates supplier invoices processed by an external application directly into Oracle E-Business Suite. This integration can generate significant productivity gains for companies in which invoice matching and invoice approval are cumbersome tasks. 

"Oracle Validated Integration involves a rigorous test and technical validation process," says Kevin O'Brien, Director of ISV and SaaS strategy at Oracle. "Achieving Oracle Validated Integration through Oracle PartnerNetwork gives our customers confidence that the integration between the ITESOFT.Balance solution and Oracle E-Business Suite 12.1 has been validated and that the products work together as designed. This helps reduce deployment risk and improves the user experience for our joint customers.”

To meet Oracle Validated Integration standards, Oracle partners must follow a strict set of requirements based on client needs and priorities. The ITESOFT.Balance module: 

  • Synchronises reference data between Oracle Payables and ITESOFT.FreeMind for Invoices. 
  • Provides access to on-line data controls in Oracle Purchasing and Oracle Payables. 
  • Imports invoices directly into Oracle Payables. 
  • Extracts invoice line item data. 

This module used in parallel with ITESOFT.Purchase-to-Pay can offer a complete and integrated solution that enables clients to manage invoice processing all the way from multi-channel capture (via e-mail, paper, smartphone, and fax) to "order payment" with live look-ups, form within Oracle E-Business Suite and in real time.

"Oracle Validated Integration enables us to offer Oracle clients a proven invoice processing solution that is integrated tightly with Oracle E-Business Suite" said Vincent Ehrström, Marketing Director at ITESOFT. "Oracle E-Business Suite and ITESOFT.Balance users get the most out of improvements made in version ITESOFT.Balance 2.5 such as ITESOFT.Dashboard for end-to-end process management".

About ITESOFT - www.itesoft.co.uk
ITESOFT is an international software vendor of multichannel document capture and process automation solutions aimed at accelerating, streamlining, and securing document-centric business processes. Leveraging its specialized R&D labs and research programs, the performance and innovation of ITESOFT’s solutions have helped the company gain the status of an internationally recognized leader beyond its number 1 market position in France. 

ITESOFT deploys its solutions to automate critical business processes for over 1,000 clients in large-to mid-sized organizations and SMEs in 29 countries, handling more than a billion documents every year across business sectors.

Founded in 1984, ITESOFT has offices in Germany, the United Kingdom, and France, serving western European markets (Germany, Belgium, Luxembourg, Switzerland, the United Kingdom, and France), as well northern Africa and the United States. With a staff of 196 people, the company generated consolidated revenue of 21.7 M€ in 2012. ITESOFT has been listed on the Euronext Paris stock exchange since February 2001. 

ITESOFT’s two-fold go-to-market strategy:  

  • Selling "on premise" solutions (the company’s ITESOFT FreeMind activity) including software licenses and associated professional services to implement automated document capture and processing projects, both for large organizations and intermediate-sized companies.Provides access to on-line data controls in Oracle Purchasing and Oracle Payables. 
  • Providing automated supplier invoice capture and processing as a SaaS (software as a service) solution through Yooz, ITESOFT's independent business unit serving SMEs, associations, certified accountants, and local government organizations.

Value proposition:
ITESOFT’s solutions can measurably and significantly increase the efficiency of document-centric business processes, both paper and electronic, such as Purchase-to-Pay, Order-to-Cash, customer case handling, and more, by increasing productivity and reducing costs while ensuring end-to-end process reliability and traceability. These solutions provide managers with the decision-making tools they need to monitor and control their processes, including supplier scoring, KPI monitoring, and reporting. 

ITESOFT has been listed on the EURONEXT stock exchange since February 2001. Compartment C - ISIN Code FR0004026151 – Mnemonic ITE - Reuters: ITFT.LN - Bloomberg: ITES FP 

About Oracle Validated Integration
Oracle Validated Integration available through the Oracle PartnerNetwork (OPN) gives customers confidence that the integration of complementary partner software products with Oracle Applications and specific Oracle Fusion Middleware solutions have been validated, and the products work together as designed. This can help customers reduce risk, improve system implementation cycles, and provide for smoother upgrades and simpler maintenance. Oracle Validated Integration applies a rigorous technical process to review partner integrations. Partners who have successfully completed the program are authorized to use the “Oracle Validated Integration” logo. For more info, please visit Oracle.com at http://www.oracle.com/us/partnerships/solutions/index.html

About Oracle PartnerNetwork
Oracle PartnerNetwork (OPN) Specialized is the latest version of Oracle's partner program that provides partners with tools to better develop, sell and implement Oracle solutions. OPN Specialized offers resources to train and support specialized knowledge of Oracle products and solutions and has evolved to recognize Oracle's growing product portfolio, partner base and business opportunity. Key to the latest enhancements to OPN is the ability for partners to differentiate through Specializations. Specializations are achieved through competency development, business results, expertise and proven success. To find out more, visit http://www.oracle.com/partners

Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates 

ITESOFT Press Relations
UK ITESOFT
A3 Endeavour Place
Coxbridge Business Park
Farnham
Surrey
GU10 5EH
United Kingdom 

James McHarg
Tel : +44(0)1252 741500
james.mcharg@itesoft.com 

Further information (external website)


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