OpenText™ Business Network helps reduce the cost and complexity of international financial accounting.
Enabling robust e-invoicing capabilities
To ensure its Oracle NetSuite deployments can support e-invoicing processes from end to end, Staria uses OpenText™ Business Network to leverage modern cloud integration services augmenting traditional B2B integration with end-to-end process visibility and data quality.
“Oracle NetSuite is a very powerful solution, but it doesn’t offer access to an e-invoicing and scanning service,” says Jani Jääskeläinen, CTO at Staria. “So, we looked at the choice between building our own e-invoicing capability in house or engaging an external partner. Early on, we realized that teaming up with an expert OEM like OpenText would be the most effective way to achieve our goals.
“Naturally, we want to deliver e-invoicing services at a low cost to keep our offering competitive, and to ramp up our capacity quickly as we add new clients. OpenText Business Network offers us access to decades of financial services expertise, to a proven technology platform and to the economies of scale that enable us to grow fast while keeping costs lean. Moreover, working with OpenText frees us to focus on developing our automation and analytics services, which is where we can add the most value for clients,” adds Jääskeläinen.
Building a multi-year partnership
Through a close, multi-year partnership, OpenText and Staria have shaped a streamlined process for setting up new clients with e-invoicing services. Each time Staria begins a new deployment of Oracle NetSuite, the company works in parallel with experts from OpenText to create a new OpenText Business Network account for the client and configure the platform to handle the new in- and out-bound invoicing flows. After deployment, Staria works with OpenText as needed to manage the e-invoicing services on its clients’ behalf.
“With supply chain optimization and digitization being top of mind, it is critical that companies employ the proper solutions that promote invoice compliance, operational cost reduction, simplified processes, invoice error reduction and cashflow improvements. OpenText Business Network offers Staria access to decades of financial service expertise, a proven technology platform, and to the economies of scale that enable it to grow fast while keeping costs low. We are proud to partner with Staria to continue to provide fast-growing companies with a trusted, transparent, and scalable one-stop-shop for e-invoicing needs,” says Muhi Majzoub, EVP and Chief Product Officer, OpenText.
“Fast growing companies want a partner that can grow with them — service scalability is one of Staria’s key differentiators enabled in large by OpenText e-invoicing services."
- Jani Jääskeläinen, CTO, Staria
“We are proud to partner with Staria to continue to provide fast-growing companies with a trusted, transparent, and scalable one-stop-shop for e-invoicing needs."
- Muhi Majzoub, EVP and Chief Product Officer, OpenText
Scaling effortlessly as the business grows
Over five years, Staria’s relationship with OpenText has helped the company to grow its Oracle NetSuite services business substantially. Each month, Staria uses OpenText Business Network to receive 25,000 inbound e-invoices and scan 17,000 invoices sent by email or physical mail. The company also uses the platform to ensure automated delivery for 22,000 outbound invoices each month for its clients, enabling Staria to focus on value-added activities.
Delivering award-winning services
Looking ahead, Staria plans to build on its relationship with OpenText to lift its services to new heights of quality and efficiency.
“Fast growing companies want a partner that can grow with them — service scalability is one of Staria’s key differentiators enabled in large by OpenText e-invoicing services,” Jääskeläinen says. “While there are many e-invoice and scanning partners on the market, few can match the geographical coverage, local-language support and service levels of OpenText Business Network. As we sprint toward our 2025 revenue goal, we know that OpenText will be by our side every step of the way.”
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com.
Staria is an information systems and financial services company with the mission of providing its customers with the most efficient services and tools for modern business. Staria's services include local and international business platforms, accounting, HR and payroll solutions as well as professional services and robotic process automation. Staria is the most internationally recognized NetSuite partner in Europe.