Listen to this articleSan Antonio, TX based ReactorNet develops cloud eProcurement software solutions for organizations across industries including hospitality, cinema and automotive. Here is our recent interview with Anthony Kylitis from ReactorNet:
Q: Tell us something more about ReactorNet and your history?
A: ReactorNet is a leading Procure-to-Pay solution provider which has been in existence since 2005; However, the people and product formed years earlier under the parent company, Cinema Solutions. Cinema Solutions was our first vertical solution and was launched as an eMarketplace for theater companies and their suppliers to jointly manage the procurement process on a single common platform. The software that powers Cinema Solutions would eventually go on to become our flagship product called EPRO which we now sell under the ReactorNet brand.
Today, we offer industry vertical solutions in cinema, hospitality, automotive, and some retail. Our software is used in three of the top four cinema chains in the U.S. including Carmike Cinemas, AMC Theaters, and Cinemark Theaters. We’re also implemented in several leading hospitality management companies including TMI Hospitality and John Q. Hammons Hotels & Resorts. We’re very proud that companies like this have put their faith in us and think it speaks volumes about our capabilities.
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Q: What advantage does ReactorNet have over its competitors?
A: We let our customer define that for us and, in that respect, time and again we’ve been told that our hands on and personal approach to development, implementation, and support has been the biggest differentiator between us and our competitors. The first thing we do is position ourselves to mitigate all the risks associated with implementing an enterprise solution by recognizing early on the disruptions a new system can add and managing that very carefully.
We believe another unique advantage for ReactorNet is our dedication to a distinct set of verticals where we become entrenched in the nuances of the industry. At the same time though, we utilize our cross industry experience to create new and innovative best practices for our customers. This approach allows us to function not only as technology experts but industry experts as well. We feel the two combined give us a competitive advantage.
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Q: You’ve recently announced the availability of Total Invoice Automation, tell us something more?
A: Total Invoice Automation is about ensuring that each and every invoice that makes its way into an organization, whether it’s an electronic invoice or a paper invoice, be managed using the same process without exceptions. It’s about achieving consistency and efficiency without creating unreasonable mandates on your supplier base.
There seems to be an ongoing dialog that the solution for total invoice automation is through the use of a vendor portal or link into an enabled supplier network. For the customers we work with that’s just not practical,or fair to be honest. “Mom and Pop” shops are often times the backbone of many supply chains and we feel their inability to conform shouldn’t necessarily exclude them from the process, especially when there is a simple and extremely cost effective way to convert PDFs and paper invoices directly into EPRO. Our Total Invoice Automation is about inclusion, not exclusion.
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Q: Who is your ideal customer and why?
A: First of all, our customers are medium-to-large-size companies who expect more of an individualized solution. They typically don’t mind giving a little in regards to change management,but they also expect the software to give a little as well. Additionally, corporate structure is important. Our ideal customer has one corporate office, with or without region level management, and ten or more properties or departments that require oversight. The reason we consider these factors is because the more distributed a company is, the more value we bring through centralizing the procure-to-pay process.
From a spend perspective, we’re looking at companies who spend $10 million or more annually. Typically, the larger the “spend”, the more transactions there are to manage. At the end of the day though, it’s all about the value proposition. If the value proposition makes sense, then they are our ideal customer.
Reporting & Dashboard Analytics
Q: What can we expect from ReactorNet in next six months? What are your plans?
A: Being new to the automotive industry, we still have our work cut out for us. Although we’ve come a long way by bringing on some seasoned dealership veterans, there’s still a lot to learn. We have several expected implementations facing us over the next six months so we’ll continue to focus on those. At the same time, we have some new capabilities which we recently announced and would like to see those features implemented across our existing customer base.
Again, we have our work cut out for us so we expect a very busy second half of the year.
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