With an aggregate mass of approved / denied invoices, Resolvr provides users an invoice score that quickly tells accountants / lawyers / any mid-or-back office employee that the invoice they’re auditing should likely be approved or denied based on prior approvals or denials. This doesn’t completely remove users from the system, but empowers a reduced number to process spend faster.
Blockchain technology also allows the external service provider to track, in real time, the movement of the invoice within the company he or she provided services to, reducing or removing the need for following up emails asking for payment status updates.
Can you walk us through a specific case study of a customer using your solution to increase their efficiency? (Note: you don’t need to name them or get into detailed specifics).
We were able to cut invoice review time down by 20%+ at one of our largest clients, a $24Bn hedge fund, based in New York. We were able to insert Resolvr in amongst existing solutions and beat out a number of horizontal software providers (Oracle, SAP etc.) because we could customize our solution to the asset management industry.
What’s your product road-map look like over the next 12-24 months?
We are looking to release a blockchain-enhanced version of Resolvr in the next 12-24 months. We are also looking to release MatchBX to the public in the more near term, to facilitate
freelancer network growth, ideally in 2Q18. We will not require individuals / businesses to pay a fee for the platform, instead in the early days of MatchBX we will utilize an AXP burn rate, to benefit early adopters who should see their purchasing power on the site increase as a result.
This article has been republished with permission from Modest Money.