About the Company
Savencia Fromage & Dairy, a.s. has been operating in the Czech Republic and Slovakia since 1993. Since then, it has become the market leader in cheese and dairy specialties in both countries, mainly thanks to the quality and taste of its products. There are currently 1,200 employees working in three factories in the Czech Republic and one in Slovakia. Globally, the company employs 18,900 employees in 29 countries. Savencia supplies its products to 120 countries around the world and its annual turnover amounts to EUR 4.4 billion.
Savencia Group was in search for a reliable partner to digitize another part of its business and approached IXTENT because of its web presentation.
This multinational manufacturing company has a Shared Service Center in Prague, which provides accounting services to affiliated companies in the UK, Nordic and DACH regions, and also handles the financial agenda for the Czech Republic, Slovakia, and Hungary. Therefore, scanned and extracted data from abroad is transmitted to Prague for further processing. The purpose of the inquiry was to find an efficient solution for automated data mining from invoices for the region of Great Britain, Norway, Denmark, and Sweden, and in the future also the DACH region.
Savencia has chosen IXTENT as an independent specialist and implementer because IXTENT is not limited to a single software manufacturer, has a diverse portfolio of partners, and offers 17 years of experience from hundreds of projects in dozens of countries around the world. The proven Kofax Capture platform and its Transformation Modules extension were chosen to automate the invoice receipt process for the financial solution rollout.
Kofax Transformation Modules (KTM) simplify the transformation of business documents into structured electronic information. This data extraction software validates header data, mines quantity and line items from vendor invoices (date, amount, etc.) to reduce manual data entry costs and automated processing exceptions.
Scanned invoices – respectively the information extracted from documents – is imported into SAP by the system. As part of the mining process, the autolearning system trains and develops itself – with each additional invoice, it becomes more reliable and its data mining efficiency increases with its experience (usual success rate of the extraction process is 90-95%).
IXTENT has extended the standard system functionality with a special logic that calculates the specified values, so the employees do not have to count totals manually. This saves them time which they can dedicate to more professional work.
A scanning station for the UK region was also installed as a part of this financial solution implementation.
Benefits of the invoicing process automation solution consist in a clear and demonstrable saving of human labor and finances. The main benefits include:
- Reduced operating costs thanks to document management system;
- Considerable reduction of time spent sorting documents by type and manually entering data into applications;
- Rapid conversion of unstructured data from paper documents into electronic format and data suitable for integration into business processes
- Increased workforce productivity (employees can focus on value-added activities instead of wasting time by handling documents and entering data)
- Improved data quality and consistency
- A tool for verifying the correctness of information obtained from the digitization process which reduces the number of exceptions for subsequent processing.
Savencia is well aware of the added value of business processes automation. It does not waste time and money on manual work of its employees and implements automation through software tools wherever possible. “In the future, we expect further development in this area and count on IXTENT as a partner in the process of our digital transformation.” pointed out Lucie Brisudová, Savencia’s project manager.