ITESOFT, the major European developer of automated document capture, processing and handling solutions, announces that it has signed a group-wide contract with HR specialist Vedior France.
The 100,000 supplier invoices received in paper format by Vedior France Group and its 12 companies will be captured, read, validated and integrated automatically into PeopleSoft Financials ERP using ITESOFT.FreeMind for Invoices and ITESOFT.Share business applications. ITESOFT is collaborating with its integration partner Capgemini on the project.
A major player in the human resources sector for over 50 years, the Vedior France Group generated 3.137 billion euros in revenue in 2006. The companyâs 4,200 full-time employees serve 60,000 client companies and manage 400,000 temporary contractors via a network of 900 agencies.
After a conducting a detailed analysis of its existing accounting processes, Vedior France chose to work with ITESOFT and its integration partner Capgemini.
âOur projectâs main goal is to simplify validation and accounting processes for supplier invoices, and to streamline these processes while making them more reliable, even before seeking improvements in productivity. The new solution also has to meet traceability requirements with respect to financial security laws. We therefore wanted to choose a tool that was able to adapt to our organisational decisions and deliver the project in a reasonable time frame. By leveraging the skills offered by Capgemini, the ITESOFT solution effectively meets both criteria,â says Christian VallÃ©e, Group Financial Director.
Previously, supplier invoices were received at several locations (headquarters, agencies, and subsidiaries) where they were validated and coded before being sent to the centralised supplier accounting services for integration into Vediorâs PeopleSoft Financials ERP system. Manual document processing and a lack of visibility on invoice status had led to various problems as well as high administrative costs.
The new solution will go into production at the end of September 2007, just 5 months after its launch, and will cover all the supplier invoices for the Vedior France Group. This represents a volume of 100,000 documents sent by 8,000 suppliers.
âOur target is to reduce the average processing time for invoices from 15-20 days to 5 days. The high level of automated supplier invoice entry made possible by ITESOFT.FreeMind for Invoices will help us reach that target. In addition, ITESOFT.Shareâs invoice validation webflow module, interfaced with PeopleSoft Financials, will really accelerate our performance overall. In fact, this was one of our deciding factors,â adds Christian VallÃ©e.
Nearly 2,000 âbuyersâ will validate invoices that have been automatically scanned, read and allocated at a central site, relating to charge types specified in PeopleSoft Financials. At the end of the payment approval process, which is customisable with regard to payment amounts and type, invoices are integrated in the ERP system. An electronic dashboard enables financial decision makers to check the status of any invoice, payment obligation and the overall process flow in real-time
âThere is going to be a very positive effect on the speed of our financial reporting and the quality of our analytical allocation data. Every employee involved with the process will save time and be able to focus on better serving our clients and responding to supplier inquiries,â says Christian VallÃ©e.