(openPR) - Leading Kuwaiti oil and petrochemical company Q8 has deployed an advanced, web-based invoice automation solution to optimise financial management across its European network of service stations and streamline the handling of the 120,000 invoices it receives annually.
The petroleum giant, which has a network of 4000 service stations and offices across Europe, is using Contempus.Invoice from leading software solutions provider Contempus to ensure that all invoices received at its headquarters in the Netherlands and Denmark are processed, approved and scheduled for payment automatically.
A strategic benefit to Q8 of the Contempus.Invoice solution is that its advanced line-matching technology extracts essential supplier details and the purchase order information, and cross-references this with invoice information. Invoices are automatically approved for payment, minimising the requirement for manual intervention and action.
Where authorisation is required, the web-based nature of the solution streamlines the approval process for sales and engineering staff. Invoice approval requests are automatically generated and sent via email to remote staff, enabling them to view and approve invoices quickly and easily through a secure web-based browser.
According to Paul Neuteboom IT-Projects & Development Manager at Q8: “A key advantage of Contempus.Invoice is that it has significantly streamlined our accounts payable activity. A large proportion of invoice processing is now fully automated, and invoices requiring approval can be dealt with rapidly, maximising productivity and enabling staff to focus on core business priorities.
“Before we processed invoices electronically, they were manually mailed out to staff working abroad for approval, but this led to delays and to documents being lost or mislaid. With Contempus.Invoice, we will be able to reduce payment cycles and optimise invoice management across our European operations.”
Q8 chose to deploy the Contempus solution for its advanced web-based architecture, user-friendly interface and good architecture and seamless integration with SAP, which has optimised workflow and ensured that invoice information can be easily shared and accessed across multiple accounting, information and business systems for improved financial management.
Invoices arriving at Q8’s Accounts Payable department in The Netherlands and Denmark are scanned using ReadSoft Documents for Invoices, then verified and sent into Contempus.Invoice. Invoices with the correct PO number and goods receipt note are automatically approved and sent into the company’s SAP system for payment. Invoices requiring manual approval are emailed out to the relevant staff for action, and approvals are automatically fed into SAP to be scheduled for payment.
Advanced line-matching technology also enables finance staff at Q8 to resolve any queries quickly and easily, as all key information from incoming invoices is automatically extracted and stored for reference.
Contempus.Invoice is a web-based end-to-end invoice processing solution which improves invoice management from receipt to payment, increasing efficiency and reducing costs while also providing greater control over business-critical information. It integrates easily with accounting, information and business systems to automate and streamline the accounts payable activity across the organisation.
About Contempus
Contempus is a leading supplier of software solutions and expertise in Enterprise Content Management. We develop and offer the Contempus Purchase to Payment solution, and deliver systems and expertise that create business advantages for our customers.
20 years ago we were pioneers in electronic document management systems. Today we are recognised as a market leader in advanced process automation solutions - crossing work processes and organisations - providing efficiency across the value chain from purchase to payment.
To date, more than 250 European organisations have chosen our market leading Contempus products to streamline work processes. Our solutions are utilised by companies in 34 countries and by more than 170,000 users worldwide every day.
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