[FW Radar] Dunforce wants to digitize debt collection
Launched in 2016 by Alban Sauvanet, Moncef Biaz, Fabien Girard and Thibaud Petitdemange, Dunforce is a tracking platform for invoices.
More details with Alban Sauvanet, CEO of Dunforce.
FrenchWeb: What needs does your service meet?
Alban Sauvanet, CEO of Dunforce: Each year, nearly 170 billion B2B invoices are issued. And 50% are paid late! A challenge for the company, with processing costs and repercussions on cash flow. A challenge for the teams, to know who should take care of it, from sales to finance. And a challenge for customer relations, to adjust the pressure and adapt to each profile. In short, a challenge! What today’s technology can solve.
What’s your value proposition?
We automate the entire workflow around the customer receivable. We have combined a set of technologies to offer an intelligent virtual invoice assistant. All the often thankless tasks are thus handled. Scan, sending invoices, mail or email reminder, information sharing between the departments concerned (finance, sales, legal), circularization, bank reconciliation, clocking in, alert, scoring …
The advantages are many. Each service can keep its software because our unique API integrates into most information systems. Customers are respected, our intelligent monitoring adapts to the commercial relationship thanks to machine learning. Finally, our Big Data tools provide risk analysis, behavior adjustment, powerful scorings, etc.
The whole thus saves time of nearly 80% and a reduction of 30% of customer risk.
Who are the users of your solutions?
We have two customer profiles. For SMEs, we offer packaged offers, very affordable. And for large organizations that brew millions of invoices, we bring expertise and tailor-made products. The first segment is looking for a reduction in time and errors. The second is rather better risk control, with processes controlled by a Big Data automation and analysis service like ours.
Who are your competitors?
We identify three competing offers on the market.
Accounting software, which often has follow-up functions. But too simplistic and rarely used.
ERPs, very powerful, but too rigid, expensive to develop and integrating few machine learning or AI tools, hence the need to have bloated teams behind.
And the last competitive segment, quite close to us, because they are dedicated to follow-ups. But these are fairly standard software, sort of CRM invoices.
We are a virtual assistant. Our clients, small or large accounts, do not or very little use our interface. We actually offer a sort of Robotic Process Automation (RPA), to take a buzzword. We are complementary to accounting or ERP software, we do not substitute. Dunforce is invisible software.
What is your development plan?
Our roadmap is almost endless, our priorities are however built from customer requests. Today, it is rather around the logic of invoice analysis, behavioral scoring and reconciliation.
We are now present in two markets, Spain and France, and are targeting around 100 customers by the end of the year. We have partnerships, such as with Telefonica for example for commercial and technical aspects. It’s astonishing to see that even such a large company – it’s twice the size of Orange !, with powerful ERPs, like SAP for example, still employs 300 people just to manage these aspects. Our offer therefore perfectly complements current tools.
What are your challenges?
We have quite important evangelistic work to do. It’s a bit like CRM a few years ago. We have to explain that Dunforce is better than Excel, to present the virtues of machine learning, automation …
We are still at the start of our activity, so our commercial approach is being built and evolving. But already after a few months, our prospects are enormous.
Like any new business, resources are limited so we are moving forward in a measured manner.
We are a great team of founders. The fact that part of our office is in Barcelona allows us to attract really interesting talent. Even though we are still limited in our means at this point.
Founders: Alban Sauvanet, Moncef Biaz, Fabien Girard and Thibaud Petitdemange
Creation date : 2016
Fundraising : any
Seat : Paris
Read also: How to calculate the penalties for late payment?