Esker Achieves Most Successful Year in Company History in 2019
MIDDLETON, Wis. — Feburary 5, 2020 — Esker, a worldwide leader in AI-driven process automation solutions and pioneer in cloud computing, recently announced that it has achieved its most successful year in company history. Driven by its commitment to delivering comprehensive, industry-leading solutions, Esker’s 2019 sales revenue grew 20% over the previous year.
“Last year confirmed the growing success of Esker’s solutions and the recurring nature of our business model,” said Steve Smith, U.S. chief operations officer at Esker. “Esker’s cloud-based solutions remain the foundation of the company’s development, and we expect to again achieve double-digit organic growth in 2020.”
In light of this growth, Esker was named a winner in the 2018-19 Cloud Awards Program in the B2B Customer Strategy category for its excellence and innovation in cloud computing.
In 2019, Esker gained several notable clients across a variety of industries that were ready to further their digital transformation goals. Highlighted below are several customers that experienced significant results following the implementation of Esker’s AI-driven automation solutions, including:
- OFS Brands Holdings turned to Esker’s cloud-based Accounts Payable (AP) solution to manage an increase in inbound invoice and payment volumes, reducing the amount of manual work performed by AP staff and allowing the company to scale as it continues to grow.
- Logista Pharma chose Esker’s AI-driven Order Management solution to enable its customer service department to improve customer response times, reduce errors associated with manual data entry, and achieve full control and visibility over order received via any channel.
- Algeco leveraged Esker’s Accounts Receivable solution to automate the delivery of 400,000 customer invoices annually via any channel (e.g., post, email, public administration platforms and EDI), improve productivity and increase customer satisfaction.
A sharp rise in the value of new contracts signed fueled Esker’s growth in 2019, with the cumulative value of new contracts signed in 2019 up 41% compared to 2018. In addition, Esker’s continued focus on enhancing the customer experience led to many existing customers expanding their contracts and implementing additional solutions last year.
“As the volume of invoices we received continued to rise, we quickly realized we needed a solution that would help us streamline our AP processes,” said Tim Verkamp, Director of Operations Technology at OFS Brands Holdings. “Because Esker’s solution frees up staff to focus on more strategic tasks, we’re now in a great position to handle current and future growth.”
Esker also experienced growth in 2019 via partnerships with several leaders in the industry, including:
- Fuji Xerox, a leading solutions provider in document services and communications, optimizing AP management processes in Asia.
- Highview (formerly B/2BNOW), a top provider of electronic data interchange solutions for the SAP S/4HANA® Cloud enterprise resource planning system, providing better automation and an improved experience on S/4HANA.
- KPMG, a global network of professional services firms providing audit, tax and advisory services, enabling Esker to further develop its presence in the Netherlands and internationally.
In 2019, Esker introduced new deep-learning, auto-recognition technology called Esker Synergy to support its Order Management solution. This expert neural network uses Artificial Intelligence (AI) and neural networks to extract data from documents, improving first-time recognition of orders.
In addition, Esker achieved SAP-certified integration with the SAP S/4HANA® Cloud. This certification provides businesses with the assurance that Esker’s intelligent automation solutions are enabled to work with their SAP S/4HANA Cloud software and be compatible with future upgrades.
Esker is a worldwide leader in AI-driven process automation software, helping financial and customer service departments digitally transform their procure-to-pay (P2P) and order-to-cash (O2C) cycles. Used by more than 6,000 companies worldwide, Esker’s solutions incorporate technologies like artificial intelligence (AI) to drive increased productivity, enhanced visibility, reduced fraud risk, and improved collaboration with customers, suppliers and internally. Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Madison, Wisconsin. For more information on Esker and its solutions, visit www.esker.com. Follow Esker on Twitter @EskerInc and join the conversation on the Esker blog at blog.esker.com.