Findus Automates Invoice Processing With Palette
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“Before the deployment of PaletteInvoice, our invoicing system was time-consuming and labour-intensive. Now we have an automated system in place, the process has been streamlined and is much more efficient”
-- Ulf Andersson, Project Manager for Findus Group
Key Outcomes achieved with deployment of PaletteInvoice:
- 70,000 invoices processed each year
- Reduction in time spent on administrative tasks by AP staff
- Accounts payable staff able to focus on more financial analysis and management
- Greater control over accounts payable operations
- Greater visibility across the organisation
- Streamlined and more efficient process
Accounts payable staff able to focus on more financial analysis and management
The Challenge
Findus Group is the leading branded frozen food manufacturer in the Nordic region, with its headquarters in Sweden.
The group wanted to optimise financial management within its Scandinavian and French business operations, to minimise paper handling, and reduce the amount of time spent by personnel on administrative tasks involved with manual invoice processing.
The Palette Solution
Findus is using PaletteInvoice, part of the PaletteArena suite of accounts payable automation solutions, to ensure that the 70,000 invoices received annually at its offices in Scandinavia and France are processed, approved and scheduled for payment quickly and efficiently.
Findus chose Palette due to its high level of functionality, its ability to meet technical demands, and because it was the most user-friendly system of those that it tested.
Ulf Andersson, Project Manager for Findus Group, said, “Before the deployment of PaletteInvoice, our invoicing system was paper-based, which was time-consuming and labour-intensive. Now we have an automated system in place, the process has been streamlined and is much more efficient, while ensuring that all purchasing rules and policies are maintained.
“Processing times have significantly decreased, and this allows our accounts staff to focus their time on more financial analysis and management, instead of chasing paper documents and authorisations.”
Saving time and resources
By deploying an advanced, web-based invoice automation solution, staff have significantly reduced the amount of time they spend on invoice processing, allowing them to focus on other areas such as financial management and analysis. The solution has also provided Findus with greater control over the whole process, with improved visibility and tracking.
This enables the 70,000 annual invoices to be processed, approved, and scheduled for payment as quickly and efficiently as possible.
Enabling easier financial analysis
Not only does the Palette solution provide greater financial control, it also facilitates easier financial analysis and management.
Over 100 employees use Palette to process invoices with matching purchase orders, received remotely from the Findus headquarters in Sweden, where they are scanned using a ReadSoft solution, before being loaded into PaletteInvoice and sent to the appropriate office and person for authorisation. They are then fed into Findus’ ERP system to be scheduled for payment.
PaletteInvoice integrates with Findus’ SAP and Movex/M3 ERP systems, providing an up-to-date and accurate view of the company’s active invoices, enabling easier financial analysis and management.
Future Plans
Following the successful deployment of PaletteArena across Scandinavian and French business operations, Findus now plans to migrate to full electronic invoicing to streamline the AP process in these territories.
About PaletteArena
PaletteArena is a complete enterprise purchase-to-payment suite, enabling users to achieve significant, measurable cost savings and efficiency gains in processing supplier invoices and purchase orders. It includes the PaletteInvoice, PaletteBuyer, PaletteContract and PaletteSupplier Portal products, giving a web-based end-to-end solution that improves invoice management from receipt to payment. It integrates easily with accounting, information and business systems to automate and streamline accounts payable activity across the organisation.
Number of invoices: Findus processes 70,000 invoices per year
Number of users: Approximately 100 users across the Group