ContinuFlow™ for Accounts Payable Workflow Automation
ContinuFlow Supports Carve-Out Business Transitions and Processes through Advanced Workflow
Developed by ContinuServe, ContinuFlow was created to automate business processes with customizable workflow technology. It was designed based on years of back-office optimization projects conducted by ContinuServe for best in class flexibility and usability. ContinuFlow was also engineered to be rapidly deployed to support tight deadlines associated with carve-out transitions and support multiple back-office processes including payables processing, expense report processing and auditing, vendor master data administration, as well as accounts receivable and accounts reconciliation.
For example, ContinuFlow for Accounts Payables provides the following benefits:
- Automated document ingestion through multiple mechanisms (including email and batch upload)
- Real-time, two-way integration with ERP systems to support drop-down master data administration, invoice coding, and payment processing
- Customizable, automated workflow routing to support multi-level approvals with electronic audit trail
- Two-way or three-way invoice auto-match functionality
- Accrual reporting and automatic aging notifications
- Dashboard with online search capabilities and customizable reporting with export to Excel
- Auto-population of document data from PDF files
- Enhanced security features including MFA, encryption of sensitive information and role-based access control
- Ability to handle multiple mailboxes, pattern matching feature to automatically identify PO based invoices and route to correct queue, vendor management with approval workflow, configurable feature to identify duplicate invoices and manage entire invoice lifecycle
- Integration with Google Vision for advanced OCR
Click here for more information on ContinuFlow
Amazon Web Services (AWS) and ContinuServe
Amazon Web Services (AWS) and ContinuServe recently announced the first of its kind agreement between a Cloud Services Provider and a leading services firm focused on needs of Private Equity (PE) firms and their portfolio companies. Specifically, the agreement between the firms focuses on streamlining the process of setting up the IT infrastructure for Carve-outs and Divestitures.
A key problem facing PE firms when they purchase a carve-out is that it does not typically come with back-office services or systems. Those typically stay with the larger corporate entity that sold the business. Historically, the newly carved-out company has had to build these systems and functions themselves often with a high expense. Aside from the cost, there is often a substantial amount of risk in migrating to the new systems and services as many other changes are also occurring during the divestiture process.
The agreement between AWS and ContinuServe focuses on developing the tools, methods, and organizational capabilities for both firms to help PE firms rapidly build the new back-office infrastructure for their carve-outs at markedly lower cost and with lower risk. This is accomplished through the creation of systematic methods, templates, conversion tools, and rapid response teams that can quickly scope out a solution and plan to rapidly execute the carve-out in a high-quality, low cost manner.
In addition, AWS and ContinuServe will focus not just on migrating operational systems and processes, but using AWS’s advances tools and services to build next-level capabilities to allow significant competitive advantage. For example, AWS and ContinuServe recently worked with HCI Equity to execute a carve-out. In the course of the transition, they built a scalable Data Warehouse that can be used to rapidly integrate data from multiple systems and present critical information needed to optimally run the business after the carve-out transaction. AWS and ContinuServe used next generation tools like Red Shift, Lambda, and Athena to create a Data Warehouse approach that is repeatable and scalable.
The AWS and ContinuServe teams on working together on several client engagements and also building new solution sets to allow continued innovation for the carve-out market. “This is just the beginning.” said Pradeep Khurana, Managing Director of ContinuServe. “Carve-outs are a main focus for our firm and we expect our partnership with AWS will allow us to leadership position as a key service provider for this market.”
ContinuServe is a leader in providing outsourced IT and Financial Business Process Outsourcing services to Private Equity Firms and Corporate Buyers. We help buyers acquire carved-out divisions or product lines. ContinuServe provides these shared, back-office services so that carve-out transactions can happen more quickly and cost-effectively. We focus on providing these Finance and IT functions, while the buyer can focus on growing revenues and strategic opportunities. We help to de-risk, simplify, and accelerate the M&A Carve-out process, so that you can complete more deals and earn higher returns.