Kinnarps, Europeâs second largest provider of workspace interior solutions, has streamlined its financial management across the companyâs Swedish and Norwegian operations, following the deployment of web-based solutions from enterprise purchase to payment specialist, Palette.
Kinnarps is a family-owned Swedish business, with business operations in 40 countries, and employing 2,700 people. The company has full control over its complete chain, from sourcing of raw materials, production, logistics, and delivery, to installation and after-sales service.
The decision was made to deploy two solutions from PaletteArena: PaletteInvoice to automate invoice processing, and PaletteContract to organise and store contracts in retrievable, web-based locations. Following successful deployment in Sweden and Norway, the group will now roll these solutions out across its other European operations.
Since deploying PaletteInvoice, Kinnarps has minimised paper handling, and reduced the amount of time spent by personnel on administrative tasks involved with manual invoice processing. The company also has greater control over its accounts payable operations, and improved visibility of the progress of invoices through the organisation.
PaletteContract provides Kinnarps with increased accuracy and visibility of its contracts, preventing overpayment and reducing the opportunity for fraudulent transactions. The solution also streamlines the process from start to finish, matching each invoice with the corresponding purchase order and relevant data, so staff donât need to do so manually.
Both solutions integrate with the Movex ERP system used by Kinnarps, providing an up-to-date and accurate view of the companyâs active invoices and contracts, enabling easier financial analysis and management.
Anna Roos, Project Manager for Kinnarps, said: âLooking back, itâs difficult to imagine how we managed without this system in place. The solutions have been a great help, very efficient and easy to use. We have approximately 200 employees involved with accounts, and this automation has made the process much easier and much quicker, whilst eliminating the paper-trail between our offices.
âWe wanted a system that could give us a better handling of our purchase orders, matching them to the various invoices, and weâre satisfied that weâve achieved this. Staff are now able to focus on more productive tasks, and no longer waste time chasing documents for authorisation.â
Kinnarps uses a ReadSoft solution to scan its paperwork, and then the scanned copy is loaded into the Palette solution and sent to the appropriate office and person for approval. This can be done either within the office, or remotely, then once authorised, it is fed into the ERP system and scheduled for payment.
Palette was chosen by Kinnarps following a valuation of four suppliers, and visits to several other companies that were currently using Palette solutions. Prior to the upgrade, Kinnarps used a solution that partially automated the invoicing process, but the supplier no longer supported the software, and it was considered outdated. Paletteâs ability to handle purchase orders and match them to invoices was better than any of the other companies involved in the valuation.
PaletteArena is a complete enterprise purchase-to-payment suite, enabling users to achieve significant, measurable cost savings and efficiency gains in processing supplier invoices and purchase orders. It includes the PaletteInvoice, PaletteBuyer, PaletteContract and PaletteSupplier Portal products, giving a web-based end-to-end solution that improves invoice management from receipt to payment. It integrates easily with accounting, information and business systems to automate and streamline accounts payable activity across the organisation.