Introducing SmartPDF™: A new paradigm in structured data collaboration and e-invoicing
Photon Commerce launches SmartPDF™, a quantum leap forward in B2B collaboration, electronic invoicing, and document management systems.
SmartPDF enables any software system to read the PDF digitally, automating and unifying billing, bill pay, Accounts Receivable, and Accounts Payable.
Developed to address the burgeoning need for secure and efficient electronic invoicing solutions, SmartPDFs™ deliver a normal PDF invoice alongside embedded electronic invoice fields in CSV, XLS, JSON, XML, cXML, and EDI formats.
75% of invoices in the US are manually processed, according to Microsoft and the Federal Reserve. In a world rapidly shifting towards digital transactions, the inefficiencies and vulnerabilities of traditional invoicing methods have become increasingly apparent. Paper-based processes are not only cumbersome but also prone to errors and lack the robust security measures demanded by today's digital landscape. SmartPDFs streamline the invoicing process while ensuring the highest levels of security and compatibility by embedding structured data into the PDF itself, making it both human readable and machine-processable.
SmartPDFs are a paradigm shift in the way invoices are handled electronically. By leveraging advanced AI/OCR/LLM technology, these innovative documents allow for the rapid conversion of traditional invoices into secure, structured digital formats. Key features include:
Comprehensive Format Support: SmartPDFs can be accessed in multiple data formats, ensuring compatibility across different systems and enhancing flexibility in digital transactions.
According to a report by Statista, the global e-invoicing market is projected to reach $20.5 billion by 2026, driven by the increasing adoption of digital payment solutions.
Each invoice costs between $7-15 to manually process. Research by Deloitte indicates that businesses can achieve cost savings of up to 70% by switching to electronic invoicing systems, due to reduced paper, printing, and postage expenses.
A survey conducted by Ardent Partners found that 56% of organizations consider electronic invoicing to be a critical component of their finance and accounting operations, highlighting the growing importance of digital invoicing solutions.
Businesses that send out invoices to customers send their invoices to Photon SmartPDF™ to digitize them into data and route them into the correct AP portal, streamlining accounts receivables and speeding up order-to-cash by 38% on average. Photon integrates with: QuickBooks Online, Xero, SAP Ariba, Actian, Amazon Vendor Central, Basware, Chorus Pro, Cortex, Coupa, Enverus, GHX, iPayables, Oildex, Perfect Commerce, Taulia, Transcepta, Transwide, Tungsten, and others.
Businesses that receive invoices from suppliers, send their invoices to Photon SmartPDF™ to convert them into digital data, conduct fraud detection, securely store them, and access them in any formats, streamlining the accounts payable process and reducing the risk of errors or delays.
For small businesses, SmartPDFs offer an affordable and user-friendly solution for managing invoicing processes efficiently. By automating tasks such as invoice sending, receiving, submission, digitization, and distribution, these businesses can free up valuable time and resources to focus on core operations and growth strategies.
SmartPDFs are a significant advancement in electronic invoicing technology, offering unparalleled security, efficiency, and flexibility in handling electronic invoices.
For more information about SmartPDFs and how they can transform your AP and AR processes, please visit Photon Commerce.
About Photon Commerce
Photon Commerce is a leader in financial document AI/OCR, real-time B2B network API connectivity, and AP/AR workflow automation, providing white-labeled AI-as-a-Service. Fintech platforms from startups to the largest fintech companies in the world bring new instant product experiences to market in days, especially around invoices, bill pay, statements, contracts, and remittances. Brex, Rho, and other fintech leaders leverage Photon's generative AI for instant Accounts Payable and Accounts Receivable.
