The modern business world is increasingly a digital one. For many companies, accounts payable has maintained a different pace than other departments toward streamlined efficiency.
How can you turn your paper-based invoices and manual processes into digital workflows? Start by considering AP Automation from Medius.
The Medius AP Automation solution provides a unique AP platform that combines the power of artificial intelligence, machine learning, and OCR to capture, digitize, and process invoices - whenever possible creating an AP process that doesn’t require any manual intervention on invoices through the payment step.
Moving on from the slow, manual processing of invoices helps reduce the risk of fraud or payment errors that haunt many AP departments.
Our AP solution gives you valuable, data-driven insight into your AP process. Analytics can reveal what bottlenecks are keeping your team from getting work done.
All data from procurement to processing to payment is synced from your ERP or accounting software to ensure accurate data.
Still, trying to convince yourself or your upper management? There’s nothing like a success story to help you decide. Here are ten success stories.
Each AP Automation case study example illustrates how real businesses have benefited from the help that Medius' solutions provide. Click the links to read a more in-depth story.
1. Puma Sprints into the Future with an Automated Solution
Our first success story comes from Puma. It was founded in 1948 as a sports apparel company and boasted fashionable athletic gear and sneaker product lines. It is the third-largest sportswear manufacturer in the world.
Puma found that invoice approvals were taking too long, and vendors were frustrated with the payment delays.
It was challenging to identify where the bottlenecks were in their process. They needed a system that showed them where they were and where they needed to go.
With a combination of Medius solutions – AP Automation, Procurement, Pay, and Sourcing – the German company was able to realize greater efficiency and improved supplier relations.
Puma’s invoices now swiftly move through the AP process. The AP team can quickly locate necessary invoices without printing or filing.
They can identify exactly how long each process step takes, giving them actionable items for improvement.
2. Huuskes Cooks Up a Robust Invoicing Strategy
A second case study involves Huuskes, a family-owned producer and supplier of food and beverages for the healthcare and corporate catering sector.
Huuskes' processes could have been more efficient from their location in the Netherlands. Their cycle involved manually matching invoices which took time and effort and made the 55,000-count of invoices – each with an average of 200 line items - a true struggle.
Huuskes partnered with Medius to begin a digital transformation. They found our AP Automation solution intuitive and easy for everyone to use.
All layers of the organization could use it, not just the finance department. They soon realized the promised gains with a completely online implementation and training.
Just nine months after implementation, Huuskes found that two-thirds of their invoices could be processed without intervention.
They have greater confidence in their financial data integrity and can operate in a more standardized way in the AP department.
3. NIC Global Builds a Better AP Design that Saves Money and Increases Productivity
NIC Global is a leading parts manufacturer for a variety of industries. Combining three facilities into one in 1999, the company now provides sheet metal components for trucking, medical, and utility cabinet industries.
They now operate four plants in the US and oversee three partners in China.
As NIC Global grew, the cracks started to show in their AP department. They were using a manual system to process hundreds of vendor invoices.
Documents were routed by hand or email in a tedious and time-consuming manner. The AP department was made up of a staff of two, and if one was out for the day, the other had an overwhelming load.
Medius AP Automation gave NIC Global the digital transformation they were looking for. It helped guarantee that invoices were paid on time and reduced the possibility of error.
The company found that it could better address compliance standards and optimize its budgets with a greater understanding of its accounts.
Almost immediately, costs were cut, and efficiency improved. Invoices could now be routed logically and digitally.
Researching an expense no longer required a manual dive into the file cabinets. And processing of invoices went from 650 weekly to 800 without the addition of new staff.
4. Tikkurila Paints a Bright Future with a Better AP Process
Tikkurila is a leading Nordic manufacturer and seller of paint and coatings. With 150,000 invoices processed each year and an $850 million USD revenue, there was a lot at stake to get their AP process right.
Tikkurila had a decentralized AP process with different systems and manual tasks across different entities.
They needed more visibility into paper invoices that would get stuck on people’s desks. They needed a way to gain full control of invoicing from start to finish.
The company turned to Medius for a plug-and-play solution that seamlessly worked with their Microsoft Dynamics ERP.
The goal was a rapid deployment throughout their organization with support for the international organization’s diverse groups.
Tikkurila gained one system and one process across the company that supported everything AP – from invoice receipt to approval to payment.
They now boast a 93% touchless rate on invoices and have visibility and transparency into their AP process.
5. Lush Cosmetics Creates a Sustainable and Improved Accounts Payable System
Another Accounts Payable Automation case study is found in Lush, a global retailer and manufacturer of hand-made cosmetics and bath products from fresh ingredients.
They have a loyal customer base with steady growth since 1995. Their plans to open hundreds of additional locations needed the support of an AP process than was more efficient than their outdated, manual methods.
Lush was processing 120,000 invoices annually with a paper-based AP system. Invoices were easily lost, and month-end was an ordeal. Their touchless rate for invoicing was 67%.
Expansion wouldn’t be possible with the current system in place. They couldn’t afford that much manual intervention if they kept up their growth plans.
An automated solution from Medius would give Lush cost savings through time spent tracking invoices.
Finding a paperless solution like AP Automation also speaks to the core value of decreasing its environmental impact.
Lush achieved a 92% touchless rate on invoicing. Their transition to a modern solution gave auditors and managers better visibility and a complete audit trail.
6. Corilus Creates a Healthy Business with Better Insight and Control of Invoices
Our next success case for AP Automation features the Belgian company Corilus, which has provided healthcare professionals with medical software solutions for 20 years.
They work to future-proof the healthcare sector by connecting leading health providers, patients, and hospitals.
But they needed to future-proof their accounts payable processes too.
With 400 employees spread across 6 business locations, the company processed 10,000 invoices each year.
They needed an overview of the status of orders and invoices. They could only sometimes tell who had placed orders or if they had been filled.
Corilus wanted a solution that gave a clear view from any business location. Proactive management of budgets and invoices would allow them to plan strategically.
Of the seven solutions reviewed, Corilus chose Medius. Our end-to-end management of invoices was crucial for their success.
AP Automation gave Corilus an easy-to-use and informative interface that improved their insight into internal processes.
With a rollout during the pandemic, the Corilus team faced and met several challenges head-on. Now they have a greater vision of the standing of invoices and awareness of spending.
They have seen cost savings through an understanding of unnecessary supplier contracts. Time savings have been realized because of better organization, with invoices no longer being sent to the wrong person.
7. Heinen & Hopman Sails Forward with Easier Invoice Processing
Heinen & Hopman has supplied heating and air-conditioning for over 10,000 vessels worldwide as designers and builders of quality climate-control systems.
The company decided to implement a worldwide ERP system because the solution they had in place needed help to handle the worldwide scale they operated at.
Medius provided easy routing, approval, access, and visibility into their AP process. They completed integration incredibly fast with standard pre-packaged connectors for Microsoft Dynamics 365 F&O.
It’s now smooth sailing for Heinen & Hopman. They can process 150,000 invoices worldwide, and the immediate gains excite managers and employees alike.
8. Fluidra Makes a Splash with Their New Invoice Processing Flow
Fluidra is a multinational pool company founded in 1969. They have long-standing experience developing innovative products and services in the residential and commercial pool markets.
Fluidra used a paper-based, manual, and resource-heavy process. They needed a secure and robust cloud solution that would integrate with Infor M3 ERP to minimize disruptions in their business.
Medius AP Automation comes with a proven, fully managed, pre-packaged integration to Infor M3 and many other ERPs. The fully cloud-based solution allows access from any device, anytime, anywhere.
Today, eighty percent of Fluidra’s invoices are managed with a touchless process. They have achieved greater efficiency by adapting to the best-practice workflows within the Medius program.
Reduction of the manual element of invoice processing has led to a more standardized way of processing and is important for auditing and reporting purposes.
9. J.J. Taylor Taps into Streamlined Invoice Capture
J.J. Taylor is a beer distributor in the United States with a large portfolio of American, imported, local, and craft beers.
The company has been a leader in the industry for more than 60 years and employs more than 1,000 people nationwide.
The company realized its existing document management solution failed to meet its needs. The J.J. Taylor team understood their problem, and had to find a way for fewer manual touches when processing invoices.
The largest supplier Miller Coors submitted invoices with hundreds of line items each. The AP team faced an uphill battle with no automation on the expense side of invoicing.
They also needed insight into tracking key indicators that might allow them to plan strategically for the future.
J.J. Taylor needed a solution to handle the automated receipt and processing of invoices, especially from their high-volume suppliers.
Having a solution that could enhance their visibility into the payment process would empower the AP team to keep suppliers happy and the beer trucks rolling.
This was the perfect AP Automation business case for a company looking to benefit from the fast and reliable integration that Medius affords.
After a speedy integration, J.J. Taylor has access to thousands of data points. Their easy-to-use dashboard gives accurate and timely reports.
The company could now better support niche craft brewers who needed to have short payment terms to keep their operations running. J.J. Taylor can prioritize those invoices and keep their diverse supplier base happy and bubbly.
10. Kennards Finds a Stash of Benefits with Their New Streamlined Processes
We will consider the final AP Automation business case study from Kennards Self Storage. It is one of the largest self-storage operators in Australasia.
Kennards sought a new AP solution for their 90-plus storage centers across Australia and New Zealand.
Kennards needed a simple and secure cloud-based system integrated with Microsoft Dynamics Great Plains across multiple sites.
Medius AP Automation checked all the boxes regarding efficiency, simplicity, and cost. The company could use Medius out of the box with only a few minor tweaks.
Kennards experienced an efficiency gain that allows for increased growth without additional AP headcount.
With offices spread out over two countries, the company now has a way to make invoices visible immediately.
After implementation, one manager at a Kennards Self Storage center thought something was wrong with the AP Automation solution because it all seemed too easy.
Medius AP Automation
Your accounts payable process doesn’t have to hold your business back. It can be a force for change and give valuable insight into a path toward efficiency, transparency, and security.
AP Automation from Medius gives your business the ability to:
- Digitize the invoice process from start to finish
- Reduce the risk of fraud and payment errors
- Streamline invoicing and reduce workload without adding to headcount
- Gain visibility into bottlenecks
- Improve auditing and reporting
Contact Medius today to schedule a demo and learn how your business workflow can be seamlessly transformed!