Parashift launches “doXeo” – the cloud solution for corporate documents

We’re launching doXeo – our cloud solution in the document management area for medium-sized companies.

What is doXeo?

doXeo is a document management solution in the cloud that enables medium-sized companies to digitally manage, allocate and archive their daily documents in no time. The daily paper mail is therefore simply scanned with an existing multifunction printer/scanner and sent to doXeo. In doXeo, rules and workflows ensure that every document is routed to the right person and converted into an audit-proof and archivable format.

In addition, doXeo is equipped with Parashift’s core machine learning technology for reading documents. Thus, doXeo automatically distinguishes accounting documents from the rest of the documents and reads out all data in such a way that the effort for document entry can be reduced by up to 90%. In addition, invoices and receipts can be posted directly in doXeo. With the API provided by doXeo, bookings and accounts payable invoices can be easily picked up and imported by the financial accounting system.

Accounts payable invoices can also be easily viewed and approved by one or more persons via an approval workflow. This significantly reduces invoice processing and enables better compliance with payment terms and the ability to benefit from any cash discounts.

doXeo is a SaaS product in the secure cloud, which companies can configure completely independently and which is charged at a low monthly price. It does not require any lengthy project setups, no high initial investments, no expensive consultants and of course we do not charge an annual 18% maintenance fee. Everything in doXeo aims at breakfasting the most important use cases as good, simple, fast and secure as possible. And, of course, doXeo is DSGVO compliant.

Who is doXeo for?

Discussions with customers and interested parties show us that doXeo is particularly exciting for companies where daily documents are still managed completely analogously (i.e. on paper). For these companies doXeo is a fast, cheap and easy way to digitize the whole paper workflow. This way, they literally save money at every corner and end and make the work of their employees much easier.

The other category of companies is those that already have a very extensive and expensive document management system in use. Not infrequently, these solutions are over-engineered and almost a little too complex in handling and operation for daily use. We also had discussions with interested parties who could have operated two doXeo instances with the annual maintenance fee for their legacy DMS alone.

With doXeo we address the medium-sized companies (70-400 employees) in Switzerland and Germany and plan to expand relatively quickly to other countries. This is a clear decision: We think that in the small customer segment much more comprehensive solutions. And there are already great integrated solutions out there like Accounto, bexio, Fastbill and Sevdesk (among many others). In the enterprise segment, on the other hand, a lot of customizing and domain know-how is required, which we neither can nor want to provide. In this area, we are already working with service providers who use our APIs.

How it came to this.

The initial spark for doXeo was a request from a medium-sized company to my other start-up company, Accounto. The company asked whether they could use the small customer accounting solution, Accounto, to manage documents and invoices. I thought the idea was absurd, but I still spoke to the person in charge, who explained the whole misery with the potential introduction of a document management system. Central statement: “We just don’t want to carry our mail through the company any more (paper), but it looks like there is no easy product for this”.

As a result, the conversation never let me go. We then built the first prototypes last summer and tested them in autumn with many potential customers. The results and feedback were so good for us that we eventually decided to build the product.

Like any new product, doXeo is also a risk because it creates something new: a standardized, simple, super-cheap solution for a clearly defined set of problems for a target group. This is a big difference to legacy DMS, which often offers hundreds of features and configuration possibilities and literally can do everything. doXeo will do exactly the opposite; do only relatively few things but try to solve them enormously well and with the least effort for the customer.

Launch early – stay radically innovative – at least 1 release per week.

We deliberately launch doXeo early. If we can do anything at Parashift, it’s to build software and platforms in a very short time with high quality and very little technical debt. The current version of doXeo took only about six months of development time to deliver on the central product promise – and we were able to build on much of what already existed. But that also means that we haven’t implemented all the ideas and features yet.

On the contrary, we have an almost endless list of possible features that we’re not sure if our customers really want them at all. Scalable cloud software is usually defined by the features you don’t implement. It’s difficult to say no, we’ve already had experience with that. Just because Feature X makes a lot of sense to customer A doesn’t mean it makes sense to all other customers.

But there are also features for which it is already clear that we will implement them in the coming weeks and months:

  • Integration of 45 additional document types and their data extraction (as we already do with invoices and receipts today)
  • Cost accounting and tagging
  • Function for matching credit card statements with receipts on the platform (will be magic 😊)
  • Standard interfaces to ERP systems used by customers
  • Standard integrations to Dropbox, OneDrive, Google Drive, UiPath
  • Integration of expense accounting tools
  • Machine learning based fraud suspicion detection for accounting receipts (focus on expenses, also magical 😊)
  • Mobile app for the most important use cases (invoice release & scanning)
  • We will publish a rough roadmap in the coming weeks and of course continue to learn, together with our customers, what is relevant and what will bring us forward.

We are looking for ideas, alliances and partnerships.

While we are convinced that all business of the future should take place in a direct channel, we are naturally very interested in partnerships and alliances. So if you have an idea that will benefit the customers out there, we are very interested to hear about it. Just send us an email, we look forward to talking about it.

There is a dedicated website for doXeo.