Pierre Bourdieu correctly states, “Economic calculations never leave social calculations.”
The development of economic systems, from informal credit and lending toward banking institutions, has been one of the ways in which disciplines of sociology and economics have been converging. What has added to these calculations is the industry efficiency built by the revolution of web-based solutions in the contemporary digital age. This has opened doors of digital transformations and enabled leading entrepreneurs to have a channeled and smoother interplay of economy and society.
Back in the 1990s, when automation in the accounts payable sector was considered a new one, the Founders of xSuite Group envisioned a paperless office, which they thought to be a real game-changer in the times to come.
These unique solutions in the market have translated into xSuite’s success in achieving a place in the Top 10 Account Payable Automation Solutions Providers 2021 list.
Understanding the potential of digital technologies to empower people and contribute to a positive work environment, Danny Schaarmann joined the mission of xSuite Group as its President and CEO at the company’s North America division, to develop ground-breaking software solutions in the Account Payable sector. As a successful entrepreneur, serial optimist, and strategic go-to-market manager, Danny, who joined the company in 2016, strives to help SAP customers with their digital transformation. This has maintained xSuite’s position as a global leader in Accounts Payable Invoice Automation (APIA) for SAP and as the ideal partner for any company’s digital transformation. As per its present statistics, it has around 1,200 customers in more than 60 countries who count on xSuite when it comes to digitizing and optimizing their financial processes.
To ease the curiosity to learn more about the company and its intriguing leadership, let us dive into its story below!
How it all Started?
Back in the day, working with digital solutions was rare. Most back-office processes were paper-based and manual. Amidst this backdrop, in 1994, xSuite Group was founded. The founders of the company were quick enough to recognize the benefits of digitization. With its help, the task of significantly altering and improving business processes could be achieved.
They envisioned a paperless office; such was their foresight. Danny shares, “This seems quite natural nowadays, but nearly thirty years ago, only a few people could imagine what it would be like to manage daily work without any paper.” The founders of xSuite truly believed in this vision and were convinced that work in the future would be digital and paperless.
xSuite Group started by setting up digital archives and scanning solutions for their clients. However, it quickly realized that using software to automate workflows would be a real game-changer. It would also provide significant benefits to businesses and their employees.
So, they began developing their own software solutions. The first one was the accounts payable (AP) solution for SAP.
A Basket of Offerings for Invoice Automation
xSuite is a global leader in Accounts Payable Invoice Automation (APIA) for SAP and the ideal partner for any company’s digital transformation. Danny elaborates on this and says, “We believe in the potential of digital technologies to empower people and contribute to a positive work environment. That is why we develop intelligent software solutions that make work simple, secure, and fast — enabling our customers to focus on what really drives their business forward.”
SAP-integrated Accounts Payable Invoice Automation is xSuite’s primary area of expertise. This includes invoice management, procurement workflows, data capturing, e-invoicing, as well as digital archiving. Around 1,200 customers in more than 60 countries count on xSuite when it comes to digitizing and optimizing their financial processes. Most importantly, the clients of the company appreciate the increased flexibility, and scalability provided by its solutions that operate on the cloud, on-premises, or in a hybrid scenario.
Promising Security, Quality and Excellence
The essential factor in the contemporary financial sector is ensuring data privacy and security. To ensure this element in its operations, the topic of “Security in the cloud” is at the top of the agenda at xSuite.
xSuite takes all necessary steps to ensure compliance with market standards. For example, it carries out various certification measures, such as ISO27001 certification, for its diverse markets. The company has always considered quality management of its solutions to be one of the most important functions in its 28-year industrial history. In addition to the bunch of quality management-oriented internal measures, it directly supports its end customers through helpdesks and support in case of any failures.
In order to supervise and improve this process, the company regularly revises its quality management processes and standards, based on its experience from over 1200 projects, to ensure the trouble-free operations of xSuite solutions for its end customers.
But what sets this technology leader apart is its keen eye for delivering excellence with ease.
He elaborates, “As stated in our vision, xSuite develops software solutions that enable people to do their daily work more easily and efficiently.”
Therefore, it is important to xSuite that their software solutions are not only new and innovative, but are designed holistically to support people in their daily work.
Words of an Expert/ Wisdom to Follow
As Danny has carried immense entrepreneurial zeal since the beginning of his professional career, his first directive to young entrepreneurs is – Do the research and know the market.
He says, “It makes no sense to copy solutions. You should always be sure that you can solve a problem of today and that the addressed problem is experienced by a sufficient number of people or businesses.”
He adds, “once this gap in the market has been identified, the customer should always be involved in the implementation by regularly obtaining feedback and further, by developing the idea in small iterations to meet the customer’s needs.”
Answering the Industrial Chain of Events
Although xSuite has been around for almost 30 years, Danny remarks that xSuite is only at the beginning of its story, as their business remains relevant amid the ongoing digitization.
Currently, the topic of e-invoicing is on the radar of many companies because more and more countries are striving to establish a standard for exchanging and processing invoices. The second phase also includes international standards and the question of how invoices can be issued, accepted, and processed digitally and automatically across borders.
Amidst these dynamic industrial needs, xSuite is able to simplify these complex procedures and accelerate AP processes across national borders.
Another important topic among their core target group is the migration from the classic SAP ERP to the new SAP S/4HANA product generation within the next few years. Danny informs, “We accompany our customers on this path and support them with all the questions regarding the move of their financial processes to the cloud. Regardless of where they are in their journey to the SAP Cloud, we are by our customers’ side, ready to face upcoming challenges together.”
Additionally, the CapEx-to-OpEx shift is at the top of xSuite’s agenda. CapEx stands for capital expenditure, while OpEx, for operational expenditure, notes all costs incurred in maintaining a company’s operations.
Giving deeper insights about this, Danny explains, “When it comes to IT purchases and use, both forms – CapEx and OpEx – can be used. Hardware and software can be purchased as operating and business equipment. They are paid for in full at the time of purchase, used for several years, and depreciated over time, thus falling under CapEx.”
Carrying the discussion forward, he adds, “The lease option (OpEx), on the other hand, is an option at any time, regardless of how the current fiscal year is going, for several reasons like – Lease options are ideal for companies that want to secure their liquidity and avoid high one-time payments. In addition, with a subscription model, a company is positioned with greater flexibility and predictability. The monthly, quarterly or annual costs are known in advance and it is clear what they are based on (e.g., the volume of transactions or documents).”
In the discourse, he introduces a new trend that is also emerging in software. Danny pinpoints that earlier subscription was particularly familiar with SaaS and other cloud models, but now more and more software vendors are also offering rental models for on-premises installed software. This means that even companies that do not (yet) want to move to the cloud can benefit from the CapEx-to-OpEx shift.
So, as per him and for the reasons stated above, rental models are becoming increasingly popular in IT, whether for hardware or for software.
Bag of Praises and Awards
A few glimpses from the client’s remarks are as follows:
“Often, you don’t even realize just how ingrained certain processes have become — until you’re shown how much better things could be. With xSuite’s solution, we have achieved the goals we set for ourselves in AP automation.”
– Dole Packaged Foods
“By implementing xSuite’s solution, we have transformed into a scalable company – from an AP perspective.”
– Radiant Global Logistics
xSuite has received the following awards:
- Top 10 Account Payable Automation Solutions Providers 2021
- 50 Best Companies to Watch 2022
Danny Schaarmann – An Inventing and Intriguing Entrepreneur
Danny Schaarmann is a successful entrepreneur, a serial optimist, and a strategic go-to-market manager. Growing up as an athlete, Danny approaches his clients and colleagues with team-driven, collaborative mentality.
Early in his career, he successfully transitioned his family-run business into a popular platform before a fruitful exit. Driven by innovation, Danny co-founded TIM Solutions in 2008, Matonu in 2014, and ILC Technologies in 2015, acting as CEO across all of his business properties.
Since 2016, Danny is the CEO and President of Boston-based xSuite North America Inc. and strives to help SAP customers with their digital transition.