Andrej Glézl (CEO)

Exchange Summit Conference October 2014

Service Searchable archive & data extraction

People 20+ staff

Customers SMEs

Mission Enable our customers to benefit from AP processing technology

Goals Increase the % of electronically processed invoices

What is Datamolino?

Do customers (i.e. SMEs) know about electronic AP processing solutions?

Basic knowledge of AP processing solutions

Yes, I know about them

No, I do not know about them

Knowledge of such solutions is very poor. None of the existing platforms scored more than 5% recognition.

If there were such solutions, would customers be interested?

Customer interest in potential AP processing solutions (%)

57% of all respondents would appreciate an application to optimize their AP processing. Professional accountants scored even higher – 1 in 3 said that they would definitely be interested in such a service.

All Accountants SMEs

definitely not

most likely not

maybe

most likely yes

definitely yes

Why would they be interested?

simpler processing

time savings

more effective work

less mistakes during data-entry

better overview

Reasons for customer interest (scoring based on relevance)

new possibilities, technology

not interested

saving costs

no more paper archiving

quick search for receipts and invoices

saving space for archiving

time for myself

maybe

easier control

other

DK/NA

Why would they NOT be interested?

different work habits

we would not be able to use the service

price

the time saving is marginal

we use a different software

Reasons why customers would not be interested (scoring based on relevance)

additional control would be necessary

we prefer paper and do not trust the electronic form

other DK/NA

What are the most important attributes of such solutions?

Relevance of product features and benefits (%)

price of solution

security of solution

simplicity of work

having a searchable archive

time savings

financial savings

quality of the extracted data

24/7 access to documents

the speed of data extraction

ability to automatically resend and share documents

ability to start using such system immediately

ability to decrease employment

extremely important very important important less important not important

Other interesting considerations

up to 40 up to 200 up to 400 up to 800

up to 2000

Average no. of invoices per month (%)

over 2000 don’t know

2-3 times per week once per week

once per 2 week once per month

once per 3 months less frequently

don’t know

daily

Invoice processing frequency (%)

all of those interested in buying a product like

Datamolino

of those not interested in buying a product like

Datamolino

Other interesting considerations

simplicity of using such solution

quality of data extracted from the scanned invoice/receipt

speed of data extraction from invoice/receipt

security of the solution

price of the solution

Considered as most beneficial (%)

ability to have access to invoices/receipts from anywhere at anytime

time savings achieved thanks to the solution

ability to decrease workforce involved in invoice processing

ability to use such solution immediately

having a searchable archive to easily find any invoice/receipt

ability to share receipts and invoices with competent personnel

financial savings achieved thanks to the solution

all

by those interested in

buying a product like Datamolino

by those not interested in

buying a product like Datamolino

Is price a determining factor in the uptake of an AP processing solution?

Price is not a key determinant for those that are interested in an automated electronic AP processing solution.

Case study: What are the barriers to implementing an automated AP solution?

Desktop solutions

On-premise solutions

Conservative attitude (paper prevails)

Legislation (e-signature required for

document dematerialization)

Lack of standard data structures

What does the future hold for automated AP processing?

Cloud accounting software

Automatization Add-ons to cloud software

Standardized data structures

Lessons learned

Customers want additional benefits from an AP processing product - not

‘just’ the elimination of data entry.

Those that want to switch, will find a way irrespective

of the legislation, those that don’t will find a reason why.

Once a customer embraces the idea of going electronic, they

usually want all the perks.

It always takes longer than you think…

Thank you.

Source: Datamolino Slovak market research, May-June 2014

www.datamolino.com