Nic. Christiansen Gruppen has in just 4 months achieved impressive results in receiving and validating their creditor invoices.
"In our administration department in Kolding, we receive 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.
"The cloud solution Kofax 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 (assisted by AI technology). The figures for March shows that out of 7,500 incoming invoices, almost 50% are handled fully automatically. The remaining 50% of invoices need some kind of manual handling, but out of these 47% the proposed data were correct. Only the last 3% needs manual correction of the invoice data.” continues Steffen T. Schultz.
"We have only good 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”.
Briefly 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
Briefly about ENCOMA: Denmark's leading Kofax partner. Over 15 years, the company has built up competence to advise and support all types of companies with digitization of their financial processes and archiving routines. All AP Essentials customers are offered free webinars every quarter to partly ensure benefit from the product's new facilities and partly to provide information on experiences across customers.
- Read more at www.encoma.dk
Briefly about Kofax AP Essentials: The OCR solution is offered by Kofax as a public cloud solution with automatic updates and with AI technology, which ensures the highest degree of interpretation on the market. The solution can with different integration tools and are integrated with all the market's workflow and ERP solutions. In 2023, more than 100 million invoices will be handled in the solution.
- Read more at www.kofax.com/products/readsoft-online