Kent Lyager Laursen
Hedegaard Nordic, a leading supplier of building materials in Denmark, faced challenges with manual, paper-based invoice processing that was slow and error-prone. Expense720 was a game-changer for digital expense and invoice management.
Key Wins: Streamlined invoice processing, Fewer data entry errors, Faster approvals, Enhanced visibility and control
Hedegaard Nordic is a prominent supplier of building materials to Greenland and the Faroe Islands. Managing a high volume of invoices was a critical part of their operations, involving numerous manual processes and significant administrative effort. Their previous system relied heavily on paper documentation, which led to inefficiencies and errors.
1. Manual Paper-Based Process:
Hedegaard Nordic was burdened with stacks of paper invoices that were cumbersome to handle and prone to errors. The manual nature of processing and storing these documents made it difficult to maintain organization and accuracy.
2. Error-Prone Data Entry:
The process of manually entering invoice details into their ERP system often led to inaccuracies. This not only created financial discrepancies but also delayed operations and caused additional workload for staff.
3. Inefficient Invoice Approval:
Approving invoices was a slow, paper-based process. Tracking which invoices had been approved and paid was challenging, leading to further delays and potential oversight.
4. Lack of Visibility and Oversight:
The company struggled with limited visibility into the status of ongoing invoices. Ensuring that all required documents were received and properly processed was a constant challenge, impacting their ability to maintain accurate records.
Expense720 was introduced as a comprehensive solution to streamline Hedegaard Nordic’s invoice management process. The platform offers a digital, automated approach that addresses the company’s key challenges and significantly enhances their operational efficiency.
1. Streamlined Invoice Management:
With Expense720, Hedegaard Nordic transitioned from a paper-based system to a digital solution. All incoming invoices are now consolidated in a single, organized inbox, making management and processing far more efficient and less error-prone.
2. Improved Accuracy and Reduced Errors:
The automation capabilities of Expense720 minimize manual data entry, which reduces errors and ensures more accurate recording of invoice details. This has led to fewer discrepancies and smoother financial operations.
3. Efficient Invoice Approval:
The system has transformed the invoice approval process. Expense720’s user-friendly interface allows for quick and intuitive approval workflows, eliminating the need for physical paperwork and reducing the time required for processing.
4. Enhanced Visibility and Oversight:
Expense720 provides Hedegaard Nordic with comprehensive visibility into their invoicing process. The platform’s features allow for better tracking of ongoing invoices and ensure that all necessary documents are collected and processed efficiently.
By adopting Expense720, Hedegaard Nordic has achieved significant improvements in their invoice management. The company now enjoys:
Expense720 has enabled Hedegaard Nordic to overcome their previous challenges and operate with greater efficiency, accuracy, and control, ultimately leading to improved service and operational effectiveness.
We use Expense720 to digitize all our incoming documents in the company. Previously, this was done manually and analog. Since we started using Expense720, we have experienced fewer errors because the system recognizes and captures document data. Expense720 has contributed to greater overview.
Website: hedegaardnordic.dk
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Michael Simonsen, CPO at ON720.COM, will show you how the effective features of Expense720 can streamline expense management and save users time when receiving, registering, approving, and archiving receipts in Microsoft Dynamics 365 Business Central.