We reduced invoice processing by 50%

Automation of financial processes

Thanks to automation via the Kofax platform, approving invoices takes half the time and Meopta does not need to hire new accountants.

  • Automatica DX
  • Kofax TotalAgility
  • Integration with Microsoft Dynamics AX ERP and Microsoft SharePoint DMS
40 000
Invoices are processed annually
50 %
invoice processing takes half the time and there are no errors in the data
30 %
cost savings on additional employees

What used to take an hour, now their employees manage in 30 minutes. They avoided expanding the accounting team by a third and gained a perfect overview of the circulation of invoices in the company. Learn how we helped Meopta — the world leader in the development and manufacture of optical equipment — to automate business processes.

40,000 invoices a year, clutter and a lot of manual labor

With microscopes, telescopes or other optical devices, Meopta helps extensive supplier network. For the accounting department of the firm, this means processing approximately 40,000 invoices per year.

“We had a complex process that required the involvement of people at every stage. We accepted the paper invoice, the employee transcribed the data into the ERP system and handed the physical copy of the invoice for inspection to the appropriate manager. The approved invoice then went back to the accounting department, someone paid it, and the paper copy went to archiving,” describes IT Director of Meopta Radim Klásek.

Number of invoices due to the growth of the company
increasing by 10% each year. Therefore, the management of the company stood in front of the decision:

  • either to strengthen the accounting department by about a third,
  • or automate the existing process.

“We were clear that by eliminating time-consuming manual labor, employees would gain more space for value-added activities. And most importantly, we realized that we needed to bring order to the process. It took us an unnecessary amount of time to process invoices, mistakes were made and we were threatened with fines if we made late payments to suppliers,” explains Klásek.

Looking for: a solution that will grow with the automation appetite of the company

Meopta took the view that the processing of accounting documents would The ideal testing ground for the gradual digital transformation of the company. “We needed a solution that would grow with the company's automation ambitions,” states the IT Director and complements other criteria according to which Meopta selected suppliers:

  • experiences, thanks to which Meoptu will carry out the entire project,
  • quality of the solution, interconnection with existing company systems and the possibility of robotic process automation (RPA),
  • velocity deployment of solutions,
  • training employees.

Meopta has chosen a software platform Kofax TotalAgility and us from InfoMatic as a supplier. The solution from Kofax is:

  • connects different business systems (ERP, CRM),
  • makes it intuitive to work even for people who are not technology enthusiasts,
  • is compatible with scanners of physical documents,
  • adapts to the existing document flow or, conversely, enables optimization of processes,
  • contains an interface with clear analytics,
  • This is complemented by electronic document signing (eSignature).

To make the project faster, we suggested Meopta use our Automatica DX tool.

“We had a complex process to approve invoices that required the involvement of people at every stage. Thanks to Kofax, we have replaced it with a modern solution that saves time and allows you to continue on the path to process automation in a modern factory. “

— Radim Klásek, IT Director of Meopta

80 days from technical analysis to launch

In the initial analysis, we mapped the existing processes and verified that Automatica DX will really work in the Meopta ecosystem.

Because we are thanks to a pre-made tool They did not build a complete foundation, we were able to devote our full attention to the more complex parts of the project, such as the integration of Kofax TotalAgility with the ERP system Microsoft Dynamics AX and the corporate DMS Microsoft SharePoint.

Processing of invoices in Meopta thanks Automation today works like this:

  • physical invoices are scanned immediately after delivery by one of the employees,
  • Thanks to the optical character recognition (OCR) function, the scanner extracts data from scanned and electronic invoices.
  • saves them to the ADX system,
  • each document is given an identification number,
  • invoicing data travels according to the set flow to the accounting department,
  • accountants send an invoice for review and approval in a few clicks,
  • the invoice is automatically sent to the ERP system for payment.

The manager can approve the invoice from the computer as well as through the mobile phone. If something needs to be done, the document comments and a notification is shown to the person concerned. “Everyone in the company likes the user experience. It's easy to work with the system.” evaluates Klásek.

Implementation of the project lasted one and a half months and prior to the planned deployment, we trained Meopta employees in detail so that they could work with the system immediately.

“I want to appreciate the smooth progress of the project. Our project team met weekly with people from InfoMatic and we discussed individual tasks — it was always clear who was responsible for a particular output. It was important for me that the contractor had the project firmly in hand and paid attention to even the smallest details when integrating with ERP or training my colleagues,” describes the IT director of Meopta.

Half faster approvals and a plan to digitise more documents

Automation via ADX and Kofax TotalAgility accelerated the approval of invoices by half — at 40,000 invoices per year, that means hundreds of hours per month. Meopta also returned detailed thanks to the project overview of document flow. “As a result, we don't run out of time sensitive invoices and don't get into unnecessary trouble,” comments Klásek.

“The volume of invoices received continues to grow. But employees are coping with the new system, plus they have more time to do value-added work. Thanks to the project, Meopta avoided the increase in the cost of wages of new accountants,”
highlights the IT director.

Together with Meopta we plan to:

  • Extend the solution to a manufacturing facility in the USA.
  • use the solution also for other documents such as travel statements, receipts or orders.

“Our long-term goal is to move processes from paper to digital systems. And this is exactly what our collaboration with INFOMATIC helps us. Thanks to intelligent automation and Kofax products, we are on track to become a truly modern factory,” concludes Klásek.

Invoice workshop

We will help digitize the finance department.

Zjistit více

Chcete také uspět?
Napište nám

Mohlo by vás zajímat