This is Daniela & Liviu, co-founders of DocProcess.
Until a couple of months ago, we’d never thought we’d say this, but we’ve just landed a significant investment from the private equity fund, Morphosis Capital. Yai!
We are very excited that we found such a partner with a clear focus on sustaining Romanian technology brands to expand their footprint. Also, the team at Morphosis is brilliant, very hands-on and ready to support us not just with funds but, most importantly, with expertise. If you want to take a look at the team, check it out here.
We’ll tell you what this all means for you and what changes you should expect to see pretty soon, but first let’s see how all this started and why DocProcess exists.
Going back 6 years ago, wait…no, actually 14 years ago
In 2005, we wanted to build a company that would help other companies work seamless and digitally, without all the manual work involved in disjointed processes and paper documents. It seemed pretty easy, with the technology layer already in place such as EDI (after all, EDI has been around since the 60s) and automation tools.
So, we’ve been dreaming of digital transformation since way before “cloud” entered the vernacular.
But pretty soon, we found out that the legislation wasn’t on our side.
So, things moved really slow…so slow, that we had to wait until 2013, until the fiscal code finally allowed the queen of the documents – the invoice – to lose the paper shape and inhabit an electronic form instead.
Fast forward a couple of years
And now we have over 3200 customers all over the world, in a digital ecosystem spanning procurement, logistics and finance and accounting processes. All in all, our customers exchange over 100 million documents. The value of the invoices alone tops $ 4 billions per year. That’s a lot of responsibility and it’s humbling for us!
We have around 50 wonderful employees, 3 offices, in Romania and France and over 25,000 users accessing our platforms on a daily basis. Wow!
And what about our customers? They’ve eliminated paper from their processes, eliminated stressful, error-prone manual work and eliminated wasted time. They’ve gained speed, accuracy, near real-time data visibility into their procurement, logistics and accounting data.
So, this is where we are now and we believe the next stage we’re entering today will be a game-changer for all of us.
Ever since inception, we’ve aimed at automating the space between companies. Automation inside companies is fairly easy, but the space in-between, it’s a much bigger and thornier area. And the truth is, no company makes money in a void.
Value is created through interactions. And until we can say that the interactions are streamlined, automated and data flows freely among different systems from different companies, we are not there yet.
- The speed with which processes happen is increasing. You order new headphones, you expect same-day delivery.
- Supply chain flows are getting fragmented and more complex. The world in which merchandise flows orderly from producers to distributors to retailers and then to customers is pretty much over.
- 80% of business data is still captive on paper and in ERPs that don’t talk to one another.
- Employees burn out under productivity and cost pressures and manual work.
This is not a sustaining way to do business, considering all the other geo and social challenges that we now face. Yes, yes, we’re talking about Brexit and trade wars among other things.
We set out to do just this:
Create an automated, digital ecosystem in which each company, small or large, can focus on what they do best, and not on fixing processes, hunt data on paper and waste precious decision-making time.
What can you expect from us?
At DocProcess, we focus on innovation and building connections. You might have noticed we’ve been pretty silent lately, that is because we’re preparing two big reveals:
For the DocXchange platform, we’ve embedded your feedback for a much simpler, intuitive interface. What you’ll see soon, it will be like nothing else – a true evolution of enterprise software interface. Plus, advanced reporting and analytics at your fingertips.
Also, we’re busy promoting our highly-appreciated contract management solution, DxContract, to help you create, manage and track all your sell or buy contracts. This is invaluable for your invoice control process, because we’ll be ready to check each invoice against contractual price lists.
With the new influx of capital, we are accelerating our product development side, brining you more functionalities and new products, and we are onboarding many more partners in our network. So chances are, if you plan to sell to Beijing, Cape Town or Sidney, we’ll find a way to connect you.
And to those of you who are partners or just followers, a big thanks. Your trust brought us here and we hope to build together this world of an automated business ecosystem!
Love from Romania and France!
Daniela & Liviu