Europris sets the standard with 92% invoice automation!
Written by Thea Krekke
Europris, Norway's leading discount chain, has made significant progress in streamlining its finance department. Thanks to a long-term collaboration with Compello, they have streamlined their document management since 2011 and achieved significant time and cost savings.
Europris, with its extensive store network across Norway, faces a constant stream of invoices from suppliers. Before the implementation of Compello, the finance department was overwhelmed by manual document management and the enormous paperwork that came with it.
"With over 280 stores, Europris handles an enormous amount of invoices and documents. We have worked closely together over the years to implement automated processes that save them time and money in their daily work," says Sondre Beck Solberg, Customer Success Manager at Compello.
Automation rate of 92%!
By implementing Compello, Europris could benefit from advanced technology such as artificial intelligence and smart rules to handle invoices and other documents in a more efficient way.
The solution digitizes and automates the entire process, from receipt to posting, which reduces daily manual work and eliminates the risk of errors.
Data from Compello shows that Europris has achieved an automation rate of a whopping 92%!
In addition to saving time on document handling, they are also saving money! Less manual work means they can optimize resource use and administrative costs.
“I have spent a lot of time getting suppliers to deliver invoices to us electronically. Either with EHF or PDF via email. With the amount of invoices we handle, this is very important to automate as much as possible. We have also received much fewer reminders.” Anette Lundby, Europris.
2-3 full-time equivalents handle 420,000 invoices.
A decade ago, there were significantly more employees working in the finance department compared to today's numbers. The number of employees in the invoice-to-store department was at 15 people, while it has now been reduced to just 2-3 people. This shows a marked decline in the workforce, much thanks to automation.
"'There was a significant need for automation in our invoice handling," says Anette Lundby at Europris. "With Compello, we could get a tailor-made solution that simplified the entire process, from the receipt of invoices, automatic rules and templates for posting of EHF and PDF, to AI accounting and payment."
Through a long customer relationship, Europris has gone through everything from an on-premise solution to a full cloud journey. They have experienced how effective use of technology can provide significant benefits for a company's finance department.
"'We look forward to continuing our collaboration with Europris and helping them realize even more benefits from automated invoice handling,'"concludes Sondre. Compello is committed to delivering innovative solutions that support business growth and success, and we are proud to do this together with such a forward-leaning chain as Europris."
Europris and Compello's success story is proof of the value of investing in modern technology to streamline the finance department and achieve significant time and cost savings. With Compello, Europris has found a reliable partner to handle the enormous volume of vouchers and simplify the entire invoice handling process.
"'We have seen a reduction in costs related to invoice handling," says Anette Lundby at Europris. "We have freed up resources that can now focus on more value-creating tasks, while simultaneously reducing costs associated with manual work and error handling."
Europris utilizes Compello's solutions to optimize their invoice handling and ensure a seamless financial process.
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