Businesses that genuinely understand digital transformation are highly responsive to challenges and opportunities. They are quick to evolve and adapt to change while investing in the right tools and technologies to achieve discrete business objectives. A select few of these fintech tools such as the ones offered by Qvalia have proven to empower organizations to effortlessly manage everyday processes such as invoices, approval workflows, sales, and accounting functions. The fintech solution provider has also demonstrated exceptional results in structuring a client’s purchase transactions to minor details quickly and efficiently through its finance automation platform, infusing a high degree of autonomy and eliminating redundancy.

The company is efficacious in transforming a client’s financial operations to a more simplified, enhanced, and automated process through a data-first approach. Qvalia can comprehend a company’s procurement procedures, with which it assists them in obtaining structured, insightful data delivered to the client in the form of comprehensive reports. As a data-driven organization, it focuses on input data, data quality, data output, and data storage, as opposed to the traditional approach of focusing on manual processes in accounts payable, accounts receivable, or procure-to-pay functions. Qvalia’s dynamic platform reinforces its unique approach toward finance processes by enabling clients to gain complete control of any line item on their invoices with a plug-and-play solution compatible with any IT infrastructure. All that is required is a basic interface with a client, after which Qvalia applies all of the business rules, filters, and classification without disrupting their existing infrastructure and instead presenting with transparent actionable transactional data.

The company acts as an intermediary or an access point for business settlements, which helps it to optimize transactions even before a client has received them.

“We’re a backbone network operator or an access point for business transactions, and on top of that, we created a master data layer for streamlining transaction processes,” states Henri Taipale, CEO of Qvalia. The company inspects data of around 200 million companies globally, from credit ratings to correct business information, ensuring consistently providing clients with accurate data.

Qvalia also adds an automation layer over the transactions to create business rules such as ‘If This Then That,’ warranting a much more streamlined process. Another interesting fact is that the company’s machine learning algorithm identifies every line item on invoices and categorizes them into UNSPSC standards, allowing clients to search all their line items in real-time. As an added benefit to the clients, the comprehensive information enables them to save almost six percent of their net expenditures.
Illustrating the capability of this solution is a recent scenario in which Qvalia helped a client who was unable to obtain assistance for their electronic ordering and invoicing requirements. Owing to the shift mandated by the regulatory entities in a short time frame requiring suppliers to enter digital orders it was business-critical for the clients to resolve the issue quickly. Two weeks after signing the contract with Qvalia, the client was up and running, satisfying the government’s requirements on account of the comprehensive financial automation solution.

Furthermore, along with its efficient solution, the company nurtures the capability to examine the carbon footprint on every line item on all the purchases for clients and grade suppliers on their CO2 emissions. It encourages clients to choose suppliers based on their emission levels, which inevitably contributes to an eco-friendly environment. To further its offerings, Qvalia is now working on including monitoring of prices of all line items from suppliers, which will allow clients to know the current and prior expenditure associated with products.