Digital invoices
Summary
As a subsidiary of HASPA Finanzholding, Nord-IMMO Management GmbH & Co. KG manages a real estate portfolio of approximately 750 million euros. As part of its digitization strategy, Nord-IMMO has set itself the goal of digitizing complex invoice receipt and processing in order to make processes more efficient, secure and dynamic in the long term.
The challenge
Due to the large portfolio to be serviced by Nord-IMMO, many different services are used by, for example, tradesmen and construction companies. Complex construction invoices in particular require individual processes for processing, approval and payment. The challenges of the Corona pandemic further complicated the processing of analog bills.
The complexity of the various processes required a digital tool that could make the processes more efficient and secure and map them dynamically. There is no off-the-shelf solution for such requirements; what was needed was an individually configurable solution that could be ideally integrated into the existing IT landscape.
The solution
After in-depth analysis and documentation of the existing processes, requirements for a digital tool were defined and providers evaluated.
Together with an implementation partner and Liquam as “construction supervisor” for the project, as well as companion of the change management, Nord-IMMO implemented an individual workflow tool within a few months, which meets the specifics of the individual processes and makes them digital and more efficient.
Regular exchanges between implementation partners and project management, as well as the active involvement of employees, ensured a productive flow of information and motivation among the workforce. Together, solutions to various challenges were developed and implemented.
The result
The introduction of the workflow tool successfully added another building block to NordIMMO’s digital IT landscape. All invoices can now be processed digitally and from any location; approval processes take place directly in the system and save time.
Individual solutions were implemented to meet the challenges of the various processes. The result:
The time saved per invoice is now about 5 minutes. With approximately 6,100 invoices, this translates to a savings of 64 person-days per year.
In addition, there is more transparency, efficiency and process reliability thanks to digital documentation of the processes, as well as simplified options for searching the documents (full text search, filter options, etc.)
Claas Ronning, Commercial Manager and Authorized Representative:
“Liquam represents an essential building block in the digitization of our business processes in terms of both the front-end implementation and the change management behind it.”
Digression:
Digitization invoices:
Invoices arrive in the mailbox in both postal and PDF formats. The postal invoices are scanned as PDFs. Now the invoices are read automatically using so-called OCR technology, which allows the relevant information to be extracted, entered into subsequent software and processed. For example, vendors can be identified directly, the amount of the invoice can be determined and corresponding release schemes can be activated.
What is an invoice workflow?
An invoice workflow includes all activities related to the processing of invoices, such as invoice verification, account assignment and archiving. With a digital invoice workflow, this is done with the help of software. In combination with digitized invoices, processes can thus be made paperless, more efficient and automated.
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