For Esker, building a human-centric and sustainable business has been the objective ever since we started the company 39 years ago. And today we still ask ourselves how we can encourage others to also embrace this vision for their organisations.

Some vacation reading took me to the Maslow Hierarchy of Needs, and this theory seemed quite fitting not just on a personal level, but also for a business. According to Maslow, what motivates humans to act is the goal of fulfilling five levels of needs: physiological, safety, social, esteem and self-actualisation. The lower-level needs must be satisfied before the higher-level needs can be pursued.

An organisation’s needs can be categorised into a similar ranking: The source-to pay (S2P) and order-to-cash (O2C) processes involve the flow of information and money between a company and its customers and suppliers. These processes are, in fact, the foundation of business operations, as they cover the entire cycle of procurement and sales: from sourcing suppliers and placing orders to delivering goods or services and collecting payments. Automating these processes improves efficiency, accuracy, speed and customer satisfaction. These advantages, in turn, flow into all business relationships, including buyers, suppliers, customers and employees.

Using the Maslow Hierarchy of Needs as a template, we can trace the five motivational levels to a business, too:

Physiological needs for humans consist of food, water, and shelter. For a business, these are cash, liquidity and solvency. Automating the S2P and O2C processes, especially with AI-powered solutions, can help a business meet these needs by making these processes faster, more efficient and accurate. This means fewer errors and delays, and lowered costs by getting paid and paying others faster. Automation can also help a business monitor and manage its cashflow better, so it always has enough money to operate and grow.

Safety needs include security, stability and protection. By improving the quality and consistency of S2P and O2C processes with automation, businesses can reduce the exposure to disruptions, disputes and fraud. Automation solutions build a reliable supply chain, ensuring compliance with rules and regulations, and mitigating risks through consistent decision-making, reliable predictions and accurate data insights.

Social needs generally describe a sense of belonging, acceptance and affiliation. At Esker, we place a lot of attention on exactly this factor: When a business takes care and ownership of the needs of others in their business ecosystem, it creates what we call positive-sum growth. It means that no business can for the long run operate at the expense of anyone or anything else, be it its employees, suppliers or the planet. Automation can help a business meet this standard by enhancing the communication and collaboration with all stakeholders. Not only does this translate into improved customer satisfaction and increased customer loyalty, but also better relationships with suppliers and stronger employee engagement.

Esteem needs refer to the feelings of being recognised, respected and having a sense of achievement. Speeding up business processes and improving their quality ensures better profitability, which gives a company a competitive edge, the ability to convey a strong performance, and engage in sustainable growth. Additionally, these outcomes will positively impact the brand image and reputation of a company, which attracts and retains more customers and talent while reassuring suppliers.

Self-actualisation needs include personal growth and the fulfilment of one’s potential. A clear vision, a strong company culture, and a focus on making a positive impact in the world will inevitably result in a business environment that creates true value to all of society. Automation can help a business meet these needs by freeing up time and resources for strategic planning, value creation, and social responsibility. Aligning the S2P and O2C processes with the company’s mission, vision and values means investing in a stronger ability to focus, inspire creativity, and perform sustainably and with agility.

Since businesses are made up of humans, it’s no wonder that these two compare so easily. And just like in those outdoor survival tv shows where the contestants first build a shelter, forage or hunt for food, and then increasingly turn their attention to improvements or artistic pursuits, an organisation should take care to cover the basics before thinking about expansion or vanity projects. Automating the S2P and O2C processes not only satisfies the basic operational requirements but also creates value and meaning for themselves and their stakeholders in a dynamic and competitive environment.

To find out more about positive-sum growth and how we integrate it into our solutions and daily life, visit www.esker.co.uk

Emmanuel Olivier

Emmanuel has been with Esker for 25 years. As WW Chief Operating Officer, he leads Esker’s operations worldwide, covering sales, marketing and consulting activities. He also supervises Esker’s finances and is in charge of its financial communication and investor relations.

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The partnership will enable Link to integrate Esker’s innovative software into its existing services, and to resell the solutions to its broad network in the aviation industry.

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Esker, a global cloud platform and leader in AI-driven process automation solutions for Finance, Procurement and Customer Service functions, today announced it has once again received recognition for its Environmental, Social and Governance (ESG) commitments. EcoVadis awarded Esker the Platinum Medal and placed it in the top 1% of companies evaluated across all industries. EthiFinance also ranked Esker among the leaders of its ESG Rating. These two accomplishments exhibit Esker’s successful implementation of its ambitious ESG roadmap.

The Platinum Medal is the highest distinction awarded by EcoVadis, the leading provider of business sustainability ratings. Esker received an overall score of 81/100, up 7 points from 2022, and improved its social and ethical conduct score by 10 points. EthiFinance, a European rating, research and advisory group serving sustainable finance and development, evaluates companies according to a framework containing 140 criteria which are divided into four tiers. Esker achieved an overall score of 75/100, an increase of 8 points over 2022. Notably, this included a 30-point improvement in environmental performance and a 9-point improvement in the social performance category.

“The EcoVadis and EthiFinance awards crown two decades of continuous efforts to establish a more sustainable and resilient business model,” said Jean-Michel Bérard, CEO at Esker. “We have put a roadmap in place in which we pledge to increase our efforts to achieve four key objectives: acting ethically and responsibly, continuing to grow customer trust, fostering a content and skilled workforce, and doing our part in protecting the planet. The involvement of all teams and stakeholders is essential to successfully reduce Esker’s environmental footprint, which also is a prerequisite for long-term growth.”

This year, Esker has been able to distinguish itself in the social sphere, thanks to long-standing commitments to employee well-being as well as externally through community engagement and educational initiatives. Esker understands the importance of a positive work environment and promotes a culture of diversity and inclusion and held several company-wide awareness-raising initiatives such as trainings, events and workshops on these subjects. And successfully so, as the question “I feel accepted as I am at Esker” received the highest score in the 2023 HR employee survey. Over 91% of employees recommend Esker as great company to work for.  

“The EcoVadis Platinum Medal and the significant progress on social and ethical conduct aspects acknowledge the long-term work performed not only by Esker Management and HR teams, but above all by Esker employees, who are very involved in proposing ideas and seeing them through,” said Aurélie Guimera, Worldwide Director of Human Resources at Esker. “This is an impressive team achievement which aligns superbly with our company values.”

Being a technology company, Esker is committed to the inclusion and promotion of women in IT positions. With 32% of management positions held by women (compared with 31% of women in the total workforce), the company’s goal is to achieve an overall rate of 34% women in the workforce by 2027.

Esker’s commitment to innovation is also reflected in its education sponsorship programme, which includes being a founding partner of the coding school Ecole 42 Lyon, and a cocreator of an AI research chair at INSEEC. By supporting a variety of schools and organisations in the region that promote gender equality in the IT sector and encouraging exchanges between students and employees, Esker is working to contribute to the development and integration of future graduates. An additional pillar of this work revolves around the recruitment of interns and work-study programme participants, whose number has more than doubled in France between 2020 and 2022.

On the environmental front, Esker is strongly committed to reducing the environmental footprint of its business activities. Esker has proactively measured its carbon emissions across all locations worldwide, including all direct and indirect emissions (scopes 1, 2 and 3).

Esker recently renewed its ISO 14001 environmental management certification for both locations in France (Villeurbanne and Décines). Esker strives to extend the lifecycle of company-owned IT equipment and electronic devices as much as possible by performing in-house maintenance, vendor support and employee buyback programmes. These buybacks are made in exchange for donations to charities of the employee’s choosing. As part of its ESG roadmap, Esker is also committed to extending the lifespan of its IT equipment for all subsidiaries by six months by 2027.

Esker considers ethical business conduct to be the foundation of its operations. To that end, the company has implemented anti-corruption policies and training as well as a Code of Conduct for all employees.

Learn more about Esker’s ESG strategy https://www.esker.co.uk/company/environmental-social-governance/

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Artificial Intelligence (AI), the simulation of human intelligence by machines, has been around for longer than some might think: The actual beginnings of this field lie in the 1950s, at Dartmouth College in New Hampshire. Over the decades, the excitement has alternately waxed and waned. What catapulted AI to the absolute highest hype levels, however, was the release of ChatGPT by OpenAI in November 2022. ChatGPT — which stands for Chat Generative Pre-trained Transformer — is a Large Language Model (LLM) that unleashed a new era of usability of AI.

The initial enthusiasm was immense. Speculation about all the problems AI will solve, and what problems it
will create, abounded. Almost a year later, the buzz has died down a little, but governments all over the world are considering legislation as to how AI can and should be used responsibly. For private use, AI capabilities are used for entertainment and, not least because of cost, will probably remain so for a while to come. Businesses, meanwhile, are ready to hit the ground running. It is no surprise that Microsoft has embedded a variety of AI-piloted features in its products.

Although it gets the most attention due to its revolutionary capabilities, ChatGPT is not all that AI can do. There are many different layers, and their targeted and pragmatic use can help organisations in their digital transformation.

Machine learning algorithms are not programmed. Instead, they “learn” from user input to solve specific problems, continuously advancing these learning capabilities. They can, for example, extract relevant data from customer orders sent in a variety of formats: free-text emails, PDFs, images and even, for those still stuck in the 90s, faxes. Sometimes, however, misidentifications occur, and values are not correctly read. This is where human intervention is still required to rectify these errors. The machine learning AI will then remember the correction, and, with the help of historical data analysis, from there on out rapidly predict increasingly correct outcomes.

Deep learning, a subcategory of machine learning, can execute even more advanced tasks. Relying on artificial neural networks that mimic the human brain and on enormous amounts of validated data, deep learning extracts information from multiple data layers, yielding even higher accuracy and optimisation. Ideal business uses for deep learning technology can be found, for example, in email triage for shared inboxes, both on the supplier and customer sides. Questions, invoices and purchase orders can all be filtered out and forwarded to the correct recipient. For the Finance department, deep learning can even pinpoint small changes in payment behaviours, order dynamics and credit ratings. These indicators can have a significant impact on working capital requirements, and thus, the earlier they are detected, the better the business can react accordingly.

And then, of course, there is ChatGPT. In addition to the fun moments it can provide when entering a query,
for example, to generate an article about AI business use-cases in the voice of Yoda, it does have some real-life applications. Customers who email a business with questions such as “Where is my order?” or “When will my reimbursement arrive?” are all living different experiences. While sentiment analysis can identify when a customer might be getting frustrated, ChatGPT can help in generating an appropriate response. This refers to both tone and content: pulling the correct information from the different systems and then suggesting a fitting answer. The emphasis here lies on “suggesting.” A human should always remain in control and make necessary adjustments, rather than relying on ChatGPT for fully automated responses. The potential for errors is just too great otherwise.

The hoped-for result would be an efficient workplace that cuts out repetitive and meaningless tasks by using AI, and brings to light hidden financial details and business indicators. These tools need to remain assistive rather than replacing humans, since no matter how intelligent AI is, the human touch just cannot be replaced. Properly used, with an awareness of potential risks, AI technologies should be used to increase well-being, strengthen our democracies, and improve the shared information environment.

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Allegro-Pro specialises in a wide range of SAP financial modules and has hands-on experience in implementing SAP S/4 HANA and On-Premise solutions. Its dedicated consultants will refer Esker solutions alongside SAP modules to ensure the most comprehensive solution package for their clients.

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Esker, a global cloud platform and leader in AI-driven process automation solutions for Finance, Procurement and Customer Service functions, today announced the appointment of Catherine Plasse as Esker’s new Chief Financial Officer.

Reporting to Emmanuel Olivier, Esker COO on the Board of Directors, Plasse will manage and coordinate Esker’s Finance teams worldwide and join Esker’s Associate Board of Directors. She will lead the creation of information for the public and financial communities and ensure the maintenance of a high-level internal control environment and compliance with regulatory obligations. Plasse will also play a crucial role in steering the operational performance of Esker by managing budgetary and control aspects. In collaboration with the Board of Directors, she will also be actively involved in the development of Esker’s environmental, social and corporate governance (ESG) policies.

Plasse brings to Esker more than 15 years of experience in strategic financial management and providing key input to executive levels at a variety of international companies. Plasse held various Financial Analyst and Controller positions at Suez Group, most notably as CFO in the U.S. for three years. She holds three degrees in International Business Administration, from Northumbria University (BA), IAE France (master’s degree) and EDHEC Business School (BA). She also holds a certification in Sustainable Transition Management from HEC Paris and in Principles of Sustainable Finance from Erasmus University of Rotterdam.

“I’m delighted to be joining Esker, an innovative company that plays a key role in the digital transformation of businesses worldwide,” said Plasse. “I look forward to contributing to Esker’s continued success and collaborating with such a dynamic and talented team.”

“Catherine brings to Esker a wealth of international experience, strong technical and managerial skills, as well as deeply held beliefs in ESG responsibility. We look forward to working with her and continuing Esker’s success story,” said Jean-Michel Bérard, CEO at Esker.

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Continued growth in cloud activities

Esker Q3 2023 sales revenue amounted to 43.8 million euros, a 13% increase over Q3 2022 based on constant exchange rates (+8% based on current exchange rates). For the first nine months of 2023, Esker sales were 131.6 million euros, up 15% based on constant exchange rates (+13% based on current rates).

Over Q3, Esker’s cloud activities continued to drive growth (+15% based on constant rates and +11% based on current rates) to represent 82% of the company’s overall revenue. This excellent performance, resulting from the many customer contracts signed in previous quarters, slightly decelerated on account of lower volumes processed during the summer. 

Implementation services grew by 10% based on constant rates and 6% based on current rates, representing 15% of the company’s total revenue. The performance of legacy products continued its downward trend, equating to 2% of sales, as is typical in extended periods of market uncertainty.

A record quarter for new bookings

Esker recorded the best quarter in its history in terms of bookings. The annual recurring value (ARR) of new contracts signed during Q3 2023 increased by 11% (based on constant rates) compared to Q3 2022, to reach 5.3 million euros. This performance is all the more remarkable, as the previous record was held by Q3 2022. The ARR of new contracts signed in the first nine months of the year reached 14.3 million euros, an increase of 14%.

The pace of signed contracts was extremely dynamic in France (+508% over Q3, +46% over nine months), due to a favourable base effect as well as a clarification of the national e-invoicing regulations in the first half of the year. As a result of these clarifications, several major customers signed contracts with Esker to overhaul their invoicing processes. This trend is set to continue until at least mid-2024.

Performance in Europe (excluding France) improved sharply (+23%) with large contracts won in Italy, Spain and the U.K, bringing the overall growth in bookings to over 105% for the first nine months of the year for the region. The Americas achieved their best quarter of the year, with 2.4 million euros in bookings (ARR), representing 45% of the company’s bookings for the quarter. This performance was down 30% from the same quarter last year, due to an extremely unfavourable base effect. This same region had set a record in Q3 2022, with more than 3.4 million euros in ARR of new contracts. Signings in the Americas are expected to increase in Q4.

A solid financial position

As of September 30, 2023, company cash rests at 45.8 million euros (including 4.8 million euros classified as financial fixed assets) versus 47.1 million euros on September 30, 2022. Net cash amounts to 34.1 million euros as of September 30, 2023, compared with 31.5 million euros the previous year. Given the low financial debt (11.7 million euros as of September 30, 2023) and 134,373 in treasury shares (representing 15.9 million euros based on the closing share price on October 16, 2023), Esker has the financial autonomy to pursue its strategy based on accelerating organic growth.

Outlook for the end of 2023

Given the very good performance of the first nine months of 2023, Esker continues to forecast organic sales growth of between 14-15% (excluding currency variations). The accelerated pace of signed contracts linked to the e-invoicing mandate in France could, if maintained between now and the end of the year, result in higher-than-expected acquisition costs (essentially commissions on sales accrued at contract signature), without contributing to revenue in 2023 (revenue spread out in SaaS mode). Consequently, a rapid acceleration in bookings could impact the expected operating margin of 11.5-12.5% for 2023 by 1 or 2 points.

An English webcast with Esker’s Jean-Michel Bérard (CEO) and Emmanuel Olivier (COO) will take place October 17, 2023, at 6:30 p.m. Central European Time. To participate, please join call here.

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Baker Ing, renowned for its expertise in receivables management for high-value and sensitive accounts, provides bespoke international debt collection, from ad hoc support to acting as an integrated service partner. Credit managers run searches on debtors and create a log of any possible reluctance for timely payment. Esker AI-driven Collections Management fits in perfectly with systems Baker Ing already have in place to enhance the offering to its customers.

The team will be referring Esker’s suite of Order-to-Cash solutions to include Collections Management, Cash Application, Credit Management, Invoice Delivery, Claims and Deductions, and E-payment solutions.   

To help businesses adapt swiftly, Baker Ing and Esker are launching a package designed to offer immediate countermeasures to inflationary pressures. This is the opportunity for companies to fortify their financial operations, ensuring they stay competitive in an inflation-ridden market.

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Proservartner creates cost efficiencies, standardises and optimises processes and enables agile back-office functions to give clients the competitive advantage they need. The company has a long heritage in setting up shared service centres, and its experienced team will take companies through every step of its automation journey. Proservartner will be both a reseller and implement Esker Accounts Payable and Order-to-Cash solutions.

The team is receiving training on Esker’s solutions and will be fully up to speed to execute the automation journey of its customers soon.

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Esker, a global cloud platform and leader in AI-driven process automation solutions for Finance, Procurement and Customer Service functions, today announced that Lactalis Iberia Group, the Spanish subsidiary of the world’s leading dairy foods company, is automating and optimising its Customer Service processes with Esker. Thanks to AI-powered automation, Lactalis Iberia Group has significantly reduced the time it takes to manage customer orders and, as a result, has achieved greater organisational flexibility and improved supply chain efficiency. 

In 2017, the company began its digital transformation of key business areas, including Customer Service, with the goal of moving from a purely administrative management structure to delivering value to customers and employees alike. In 2021, Lactalis Iberia Group partnered with Esker to automate customer orders for three of its companies: Lactalis Forlasa (cheese), Lactalis Puleva (milk) and Lactalis Nestlé (yoghurts and desserts). And this year, a fourth company was added, Lactalis Food Service Iberia, serving the hotel, restaurant and café (HoReCa) channel.

The objective of the project was two-fold: increase efficiency and unify the processes of the four companies while maintaining the specificities of each one.

“Esker’s solution provides us with visibility and analysis capabilities via customised dashboards, where we can easily monitor results and progress for each manager,” said Ángel Ventoso, Head of IT Applications at Lactalis Iberia Group. “Each company has its own dashboard and the security and confidentiality of the information is 100 per cent guaranteed.”

Esker Order Management, part of Esker’s Customer Service solution suite, has made it possible to digitally process and integrate all orders regardless of format (spreadsheets by email, orders in the body of the message, PDF, HTML, etc.).

Lactalis Iberia Group is already reaping the benefits of automation. Today, over 85 per cent of orders are automatically integrated into its SAP® system. As a result, it takes the Customer Service team only one minute to process an order, down from eight minutes previously, totaling 1,300 hours saved per month. Additionally, the elimination of manual order entry errors coupled with faster order handling time, has led to greater productivity in the supply chain — reducing stressors in each of its elements (stock, transport, warehouses, etc.).

Lactalis Iberia Group also benefits from greater organisational flexibility. The centralisation of processes and procedures means that any user trained in the solution can take over at any time.

Thanks to automation and the elimination of paper, Lactalis Iberia Group saves approximately 54,000 sheets per year, 14,300 litres of water and 1,300 kg of CO2 that will no longer be emitted into the atmosphere. Additionally, the company has freed up the need for physical archiving space.

“Automating our order process has generated significant time savings and, consequently, important cost savings for our order department,” said Patricio Corrales, Head of Customer Service at Lactalis Nestlé. “Esker has helped us improve processes and generate value, not only for us and our customers, but also throughout our supply chain, an area where we continue to invest through various partnerships.”

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