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Qvalia: Next Generation Automation Technology for Accounting

CFO Tech Outlook

Henri Taipale, Founder & CEO, QvaliaHenri Taipale, Founder & CEO
Most companies today are eager to climb the robotics process automation and artificial intelligence bandwagon to be proficient in their business operations. However, what they don’t realize is: ‘high quality of data is absolutely essential for better automation outcomes.’ With a narrowed approach (absence of master data perspective) to digitizing finance data, companies end up creating silos of account payables and receivables information in their ERPs that leads to data accuracy issues. An expert in transaction analysis and Founder and CEO of Qvalia, Henri Taipale, says “Companies have digitized their entire invoice process but still make errors such as double payments often.“They need to realize that mere digitalized data isn’t enough for smart accounting. A thorough digital assessment is key to synchronize their data records automatically and keep them up to date.” Spurred by the wide gap in digital enablement, Taipale established Qvalia that offers a platform for efficient financial data management in all transactional processes in order to radically increase the level of automation. “For larger organisations, we combine our consulting experience and technology prowess to automate data management. But our platform works out-of-the-box for small businesses” The company’s data-first approach ensures customers achieve structured and accurate information and high level of automation in all the financial processes and transactions.

Qvalia’s strategies and solution offerings thrive on three fundamentals: insights, improve, and categorization. The insights aspect of their engagement relates to the steps a company should take to automate data management in an agile environment. To improve the data quality of the invoices, Qvalia offers free e-invoicing to increase the adoption rate, automated invoice validation and a monitored supplier registry.


What sets us apart is our ability to bring incremental change in information flows without disrupting the existing systems


Wrong information in the invoices can be sent back to the supplier automatically without user intervention what so ever. Categorization, on the other hand, allows customers to structure their data on a line-item level, and with defined rules close to completely automate transactional accounting.

With these capabilities Qvalia’s customers save time and cost as they no longer have to spend on the laborious and resource-intensive accounting and spend analysis procedures. Moreover, high data quality and data categorization provide the foundation for big data analytics and works outside current systems. “Basically, we are laying the groundwork for managing information in a highly productive manner. What sets us apart is our ability to bring incremental change in information flow without disrupting the existing systems,” says Taipale.

To further augment the transparency and control over the flow of financial information, Qvalia offers recovery audit and VAT services which can be used ‘as a service’ or can be purchased as separate tools. The toolset offers pointed solutions to a company’s individual transaction-related problems, allowing them to remain focused on their information and carry well-planned digital transformation initiatives that guarantee business success.

In an instance, one of Qvalia’s customers, a leading management publication company in the Nordics, wanted to automate all their financial processes. With Qvalia, the client could take the necessary steps to future-proof their sales. The client secured their customer’s invoices and automated the entire accounting process that resulted in greater financial benefits.

As one of the fastest growing company in the Nordic region, Qvalia is planning to expand its solutions portfolio across Europe. The company will continue to bring in innovation across markets by enabling more companies to leverage its platform and maximize their automation potential in their transaction processes.

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Top 5 FinTech Solution Companies in Europe - 2020

Qvalia

Company
Qvalia

Management
Henri Taipale, Founder & CEO

Description
Qvalia helps companies take control of their data and automate their business. The firm’s software platform provides a complete solution in transaction automation, from e-invoice management to accounting and for organizations of all sizes. One can expect increased efficiency throughout the accounts payable and accounts receivable processes, reduced costs, and analytics in real-time. Since the start in 2007, Qvalia is the leading Nordic expert in transaction analysis and transformation. Accounts receivable, transaction analysis, contract compliance, value-added tax, accounting, accounts payable, recovery audit, cloud services, enterprise software, and financial technology are some of the key offerings of the company