Medius helps Marc Jacobs to compete in the fast-paced world of fashion
15 March 2017
Medius, with the leading cloud-based AP invoice automation solution MediusFlow, has helped renowned fashion house Marc Jacobs to modernize, centralize and automate its accounts payable workflow process.
“For the first time, Marc Jacobs has a clear visibility into the accounts payable process and with MediusFlow, 93% of our invoices get automatically routed to the correct approver without any human intervention”, said Regis Litre, CIO of Marc Jacobs.
By using the automation provided by MediusFlow to process supplier invoices, Marc Jacobs has increased their control of the accounts payable process, and dramatically reduced the average processing time for invoices – from 45 days to 11 days.
“I am both very excited and humbled at the concept of supporting a company like Marc Jacobs to transform their accounts payable process – resulting in increased control, time savings in the AP team and improved relationship to vendors, thanks to shortened payment times”, said Per Åkerberg, CEO at Medius. “It is great to see how well MediusFlow and our best practice approach fits fast moving retail companies. The results Marc Jacobs has achieved – 3 weeks deployment, 93% automation and ROI in 4 months – really showcase the strengths of our cloud-based offering.”
3 weeks deployment of AP automation
Thanks to MediusFlow’s standard ERP integration to Microsoft Dynamics AX, the deployment ease of a cloud solution, and Medius’ best practice approach derived from more than 2,000 customers, Marc Jacobs was able to go live with an automated accounts payable workflow in just three weeks.
“Because of Medius’ knowledge about the accounts payable process, MediusFlow being a cloud solution and the standard integration to Dynamics AX we could implement the solution in just three weeks – including training and the organizational change of moving from decentralized to centralized invoice reception”, said Regis Litre, CIO of Marc Jacobs. “Usually integrating tools is the most complicated part but after MediusFlow was integrated to Dynamics AX we actually tested the first invoice the following day. It was like a miracle for me.”
Tangible savings and strong ROI
Since deployment, Marc Jacobs has been able to strategically refocus employees away from the considerable time spent maintaining spreadsheets and managing accounts payable information, and decision-makers are able to easily approve invoices on-the-go.
“With MediusFlow we found a very flexible way to route, approve and process invoices and just four months after deploying MediusFlow, we were able to justify the investment”, said Regis Litre, CIO of Marc Jacobs.
Watch a 2-minute video where Marc Jacobs describes how Medius helps them to compete in the world of fashion. Then listen to a 30-minute recorded webinar for a more detailed look at how Marc Jacobs has automated its account payable process with Medius.
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About Marc Jacobs
Marc Jacobs International, LLC, designs and manufactures apparel, accessories, and footwear for men and women, girls, boys, and babies. It offers its products through its stores and online in the United States and internationally. The company was founded in 1984 and is based in New York, New York, with stores around the world.
Medius is a leading provider of AP invoice automation solutions in the cloud. The Medius and MediusGo Invoice solutions automate and simplify the entire P2P (purchase-to-pay) process. The company has 2,000 customers worldwide processing 52 million invoices annually, with high density in retail, manufacturing and professional services industries. Founded in 2001, Medius now has 220 employees working out of offices in Sweden (HQ), the United States, Norway, Denmark, Poland, the Netherlands, Malaysia and Australia.