​"Our administration department in Kolding receives approximately 100.000 invoices per year distributed among 14 companies around the Nordic region. The daily work of ensuring optimal quality of the requested invoice information, which is sent for approval in the organization, burdens the department with only 2 hours a day," says Group Finance Manager Steffen T. Schultz.

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"The cloud solution Tungsten AP Essentials has proven to be an intuitive and easy working solution for our employees, so the time per invoice validation has been reduced significantly and at the same time the data quality has improved significantly. We receive both paper, pdf, and xml invoices, all of them are subject to the same validation check. Thanks to the analysis tool, we can identify bottlenecks and continuously optimize quality and speed.

 

From December 2022 to March 2023, the interpretation rate has been improved month by month due to built-in AI (artificial intelligence) and ML (machine learning) technology. The figures for March show that out of 7,500 incoming invoices, almost 50% are handled fully automatically. The remaining 50% of invoices require some kind of manual handling, however 47% of the proposed data is correct. Only the last 3% require manual correction of the invoice data” continues Steffen T. Schultz.

 

"We have only positive things to say about AP Essentials, which has given us the benefits we expected by moving our invoice handling to a public cloud solution. The solution is absolutely approved”.

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About Nic. Christiansen Gruppen: The company is today a strong player in the Nordic car market with import, retail, and financing activities. We think long-term, and we strive to develop ourselves, each other, and the industry. We do this best when we collaborate on our common goal: Moving Mobility & People. Nic. The Christiansen Group operates in 7 different countries across the Nordic and Baltic countries. The organization has approximately 800 employees and a network of over 150 competent dealers.

Read more at www.nc.dk

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About ENCOMA: Denmark's leading Tungsten Automation (formerly Kofax) partner. For more than 15 years, the company has built up expertise advising and supporting all types of companies with digitization of financial processes and archiving routines. All AP Essentials customers are offered free webinars quarterly to ensure new product features are explained and create value, and customers further benefit from sharing best practice and experiences during webinars.

Read more at www.encoma.dk

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About Tungsten AP Essentials: The OCR (Optical Character Recognition) solution offered by Tungsten Automation is a public cloud solution with automatic updates powered by AI and ML technology, ensuring the highest interpretation rate on the market. The solution uses various integration tools and is integrated with all leading workflow and ERP solutions. In 2023, more than 100 million invoices were processed by the solution.

Read more at https://www.tungstenautomation.com/products/ap-essentials