Jedox Customer Story
Creating an Efficient Digital Structure by Automating AP
- Acceleratedinvoice processing and approval times
- Streamlinedinvoice management resulting in improved supplier relationships
- On-the-goinvoice approvals for international workforce
Jedox is a leading Business Intelligence and Enterprise Performance Management solutions provider. The company simplifies planning, analysis, and reporting with one unified and cloud-based software suite by empowering decision makers and business users across all departments. Already, 2,500 companies in 140 countries use Jedox for real-time planning on the web, the cloud, and on any device. Jedox operates worldwide, with offices on four continents and a network of over 250 certified business partners.
"Esker has given us exactly what we were looking for in an automation solution: a scalable, transparent and rapidly adaptable cloud solution."
Ever since its founding in 2002, the German software start-up Jedox experienced continued growth due to its preeminent performance management software. Also responsible for the company’s expansion were multiple acquisitions, the establishment of new international locations and the development of a network of international business partners.
GROWTH ALSO DEMANDS NEW PROCESSES
While growth is vital to the success of a company, the challenges that come with it need to be responded to in a swift and thorough manner. Jedox knew it needed a scalable solution to address poor invoice tracking, lack of visibility and difficulties keeping an eye on supplier data.
“Company growth generated the creation of new teams and hierarchies, causing the existing invoice approval processes to no longer correspond to our day-to-day business operations.”
Jedox’s IT department makes 90% of the company-wide purchases, so it was put in charge of handling all purchasing needs. As there was no clear approval workflow in place between IT, Purchasing, Accounting and project managers, the lack of visibility made managing the invoice approval process increasingly challenging. “The manual approach used in our existing AP process didn’t leave much time to focus on analysis or other improvements,” said Thomas Haag. “The responsibilities in the approval process were also very confusing, and we lacked the control and visibility needed to speed them up.”
IMPROVING INVOICE PROCESSING WITH 24/7 AVAILABILITY
With 250 employees worldwide, time zone and location constraints, it was imperative that Jedox find a scalable automation solution capable of quickly processing supplier invoices and with 24/7 service availability. The simplicity of Esker’s Accounts Payable cloud automation solution and the open lines of communication between the two companies made it the perfect match.
“We were won over by Esker’s fast solution implementation and knowing that they will continue to accompany us with our future growth.”
ACHIEVING NEW CLARITY FOR COSTS CENTERS
In order to allow Esker’s Accounts Payable solution to unfold its full potential, Jedox decided to restructure and reorganize its cost center operations as well as revise its invoice approval processes and payment control mechanisms to coincide with Esker’s implementation. In parallel, Jedox also established an electronic channel for incoming invoices and supplier data. Nearly all invoices now arrive through a central email address, leaving only a few paper invoices for the AP team to handle.
ENHANCING EFFICIENCY WITH MOBILE ACCESS
Jedox has made the most of the advantages that Esker’s mobile solution has to offer, particularly during the continuing pandemic. Most employees that handle approvals are happy and frequent users of the Esker AnywhereTM app — and don’t use anything else. “Feedback on the application’s performance and interface have been excellent,” said Haag.
“The Esker Anywhere app is great. I’m able to approve invoices on my morning train commute in less than five minutes.”
Managers almost exclusively use Esker Anywhere for invoice approvals and as a result, efficiency has improved. Normally, internal approval procedures include confirmation by the Board of Directors members, so in the solution’s introductory phase user privileges were somewhat limited. Due to the positive feedback from more than 50 users, these approval privileges were expanded, relieving the workload of both managers and Board members.
RELIEVING ACCOUNTING’S WORKLOAD
Because Jedox employees feel comfortable using Esker’s solution, the burden on the Finance Department staff has been eased considerably. The solution’s auto-learning capabilities result in a decrease in accounting work, and the archiving feature for the occasional attachments reduces paper handling and filing tasks.
Invoices can now be accessed directly from the company’s Microsoft Dynamics NAV ERP system. Consolidating all these processes brings with it additional benefits, such as workflow streamlining and audit support.
Jedox is looking to continue its digital transformation and automate more business processes, including supplier management and procurement. The company is also looking to help improve the collaboration between internal departments (legal, procurement and IT) to prepare them for upcoming certification processes.
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