Ardent’s FinTech Influencer Series highlights innovative voices in the world of Accounts Payable (“AP”) automation. This series is the go-to spot for progressive thoughts on how technology, transformational thinking, and revolutionary ideas are changing how AP work gets done. Continuing our ePayables Influencer Series, today we are speaking with Jeffrey Moore, Partner and CSO of Artsyl Technologies, Inc.
Ardent Partners: Welcome Jeff and thank you for spending some time with me today. Let’s get started. Please tell me about your background, your company, and how you ended up in the ePayables industry?
Jeffrey Moore: I started in the IT space back in 1981 with the US Marine Corps. I began as a computer operator and then moved into Telecommunications and End-User computing. After the Marine Corps, I joined General Electric Information Services. I was with IKON in 2002 when I transitioned into the Content Management space and began working with Intelligent Data Capture. From IKON I moved on to the role of VP of Sales and Channel Management for Notable Solutions Inc. (NSi) in 2004. Over the next four years I developed channel partnerships with Microsoft, HP, IBM, Xerox, OpenText, Canon, Kodak, iManage, Ricoh, Fujitsu, Sharp and Kyocera to name a few. In 2008 I left NSi and joined Artsyl as a partner in the company and head of sales and marketing. Artsyl was just in its beginning stages of developing capture products. I led the company towards developing its first server based capture product and subsequently to its current cloud-based Intelligent Automation Platform. Today Artsyl has hundreds of companies using its products around the world. In 2009 Artsyl developed its first generation of user-assisted machine learning product called AutoFind. In 2014 we introduced our InvocieAction solution for supplier invoice automation. Today 75% of our clients use Artsyl technologies for supplier invoice automation. In 2020 Artsyl is adding more AI/ML capabilities with MS Cognitive Services and Google’s TensorFlow products to further improve its invoice automation capabilities. We are partnered with global companies such as SAP, Oracle/NetSuite, Microsoft, Epicor, Acumatica, Appian, Blue Prism, Jitterbit and more to provide Intelligent Automation solutions for corporate finance and administration functions and beyond,.
Ardent: What is your perspective on the ePayables market today?
JM: I believe as technology continues to advance (processor speeds, memory, cloud computing etc.) we will see more automation across the enterprise and processes which were once highly dependent on personnel will become more and more automated. Invoice processing is one that will continue to lead in terms of that automation. We have seen a rapid move from paper to electronic submission via email and countries continue to push e-invoicing standards around the globe. It is not hard to imagine a time in the near future when the majority of invoices will be processed automatically without any user intervention.
Ardent: What should we be paying attention to now and in the future (technologies, trends, etc.)?
JM: (Technologies, trends, etc) I believe low and no-code platforms will continue to rule the day for process automation and platforms which can address multiple functional areas will prevail. Much like the past, companies will prefer to have products which can support many lines of business and departments. Products which can provide core technologies such as intelligent data capture, RPA, BPM, AI/ML and iPaaS will be the standard not just an option.
Ardent: How has the market/industry changed in the past five years and what do you think it will look like five years from now?
JM: I worked with the VP of Sales and Marketing for a small ECM ISV five years ago and she said “I don’t even know if my customers want AP Automation”. Today I hear AP Automation as the first thing people are asking for. We have come a long way in a short period of time but those who manage the money also see where it is being spent elsewhere in the company. It won’t take long for CFOs to ask whether they can see/get the same automation for other departments and divisions within their organizations.
Ardent: As an executive at Artsyl, what keeps you up at night?
JM: The speed of technology has never been faster. You have to keep your eyes open 24 hours a day. You can never tell when a new technology may come to market and displace you. I spend a large amount of my time envisioning where we need to be 3-5 years from now and trying to steer us in the right direction to get there.
Ardent: On a personal note, what is your favorite book or movie and why do you like it?
JM: I’m kind of a news junkie these days but one of my favorites is Glengarry Glen Ross. It’s just a brutal tale of a sales person’s life. 😊 I admit it is a little dark.
Ardent: Thank you Jeff for your time and insight on the market.
