Exela Technologies Named in Forrester’s ‘The Accounts Payable Invoice Automation Landscape, Q1 2024 Report’

Rhea-AI Summary

Exela Technologies, Inc. (NASDAQ: XELA, XELAP) has been included in Forrester's 'Accounts Payable Invoice Automation Landscape, Q4 2023 report'. The report focuses on how accounts payable invoice automation can streamline invoice data capture, automate validation processes, and provide financial analysis. Forrester identifies Advanced AI as a new differentiator. Exela has been recognized for its dedication to developing technology that lowers costs and improves supplier relationships.

IRVING, Texas, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP), a global business process automation (“BPA”) leader, announced today that the Company has been included in the Forrester's ‘Accounts Payable Invoice Automation Landscape, Q4 2023 report’.

In an overview of 33 notable vendors, this comprehensive report focuses on how accounts payable invoice automation (APIA) can streamline the capture of invoice data, automate key steps in the invoice validation process, and provide reporting and analysis of the financial implications of processed invoices.

Forrester identifies Advanced AI as the new differentiator. Advanced AI technology shows great potential in AP processes, making them more intelligent, secure, and efficient.

Along with all core use cases, Exela additionally selected E-invoicing and tax compliance, Invoice matching against non-POs, and Reporting and Dashboarding as its top three extended use cases.

“We are pleased with the recognition from Forrester in the APIA technology vendor Landscape. This reflects our dedication towards developing technology that helps customers lower costs and improve their supplier relationships with enhanced compliance,” said Suresh Yannamani, CEO Exela Technologies BPA.

To view a copy of the Forrester Accounts Payable Invoice Automation Landscape, Q1 2024 report and learn more about the AR automation field click here. 

About Exela Technologies

Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune^® 100. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, and approximately 15,400 employees operating in 21 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

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Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.

Investor and/or Media Contacts:

Vincent Kondaveeti
E: vincent.kondaveeti@exelatech.com 

Mary Beth Benjamin
E: IR@exelatech.com 

FAQ

What is the significance of Exela Technologies, Inc. being included in Forrester's 'Accounts Payable Invoice Automation Landscape, Q4 2023 report'?

Exela's inclusion in the report showcases its dedication to developing technology that lowers costs and improves supplier relationships.

What does the Forrester report focus on?

The report focuses on how accounts payable invoice automation can streamline invoice data capture, automate validation processes, and provide financial analysis.

What is the new differentiator identified by Forrester?

Forrester identifies Advanced AI as the new differentiator in AP processes, making them more intelligent, secure, and efficient.

What are the top three extended use cases selected by Exela?

Exela selected E-invoicing and tax compliance, Invoice matching against non-POs, and Reporting and Dashboarding as its top three extended use cases.