DOKKA Helps XSight Labs 2x Their Processing Speed While Reducing Cost
Company
Xsight Labs is Israeli semiconductor company that is on a mission to re-architect the foundation of cloud infrastructure. Building on over 20 years of experience in developing and productizing multiple generations of cloud infrastructure products, the Xsight Labs executive team is focused on tackling modern data center challenges.
Xsight Labs has multiple products in development for the next generation of cloud service providers and hyperscale data center networks. They have successfully executed on a new data center switch architecture, delivering unmatched performance with remarkably low power. Their goal is to enable feature velocity and exponential bandwidth growth while lowering power and total cost of ownership.
The company’s main headquarter is in Israel, with established business presence in the United States and Armenia.
Quick facts:
Founded in 2017
200 employees
Offices in Tel-Aviv, Binyamina, Boston (MA), Raleigh (NC), and San Jose (CA) Closed Series D funding in 2021
Challenge
Developing a semiconductor chip takes a lot of resources. Due to very high R&D and production costs, and taking into account that they are a company that is still in the product development phase, Xsight Labs wanted to keep their finance team as lean as possible.
Initially, the company had three external bookkeepers before they decided to centralize their finances and build an in-house team. From the very beginning they wanted an automated solution to effectively manage accounts payable (AP) and control payment approvals internally.
In April 2021 Xsight Labs implemented NetSuite, and were looking for an AP solution to complement it, due to NetSuite being slow to work with and having subpar document management features.
Solution
XSight Labs’ first encounter with DOKKA happened long before they became a customer, as they “inherited” the system from an external bookkeeper who regularly used it for automating their journal entries.
This means that Xsight already had some experience with the system beforehand, so even as an external user they were aware of all the benefits of the software. Simply put, DOKKA was a natural and organic choice.
That being said, the only concern they had was how quickly DOKKA can integrate with NetSuite, their ERP system. Fortunately, DOKKA already had a ready-made NetSuite integration so the integration took just 2 weeks and they were immediately able to automate their manual AP processes and start saving time and money.
Today, Xsight Labs has an internal finance team of 4 people, which are augmented by external bookkeepers in the US and Armenia. DOKKA helps them to centralize invoice processing and payment approvals for each business subsidiary, while still keeping their finance team as lean as planned.
With DOKKA’s advanced technology for capturing invoice data and the module for automated payment approvals management, XSight Labs now processes around 200 invoices a month — both scanned and digitally generated ones.
“I’m happy with the product. I think the benefit is the cost effectiveness, it doesn’t cost a lot and it creates a big benefit. It’s not overcomplicating things and it’s not trying to be something that it is not or trying to expand beyond its resources. It’s focused on scanning the invoices, processing the invoices, getting the approval of the invoices and that’s exactly what we need.”
- Hagai Gilad, Corporate Controller at Xsight Labs
Biggest Wins
“I like its simplicity. I like the fact that it’s like an email inbox that you use. It’s quite user friendly.”
- Hagai Gilad, Corporate Controller at Xsight Labs
2x Faster AP in Just 2 Weeks
Join XSight Labs and thousands of other companies in revolutionizing their accounts payable with DOKKA. Sign up a for a live demo and see how we can double your AP efficiency in as little as 2 weeks.
