SUCCESFUL TRANSITION TO AUTOMATED INVOICE PROCESSING
November 9, 2017
SiO Successful transition to automated EHF invoice processing at SiO
The Welfare Organisation for students, SiO Norway Student Life in Oslo and Akershus (SiO), have been first movers in implementing the use of electronic invoicing. Today 85 percent of the incoming invoices are being processed electronically in the accounting department at SiO. That is, 100 percent of invoices are being processed digitally, and 85 percent of these are processed in the new EHF format.
“Previously, we handled paper invoices to a Post Box in Trondheim, where our partner accounted for receiving, scanning and monitoring. Later we went over two an e-mail Solution, where the invoice was sent as a PDF to an email address.”
— Irene Lorentzen, Chief Accountant at SiO
Time-consuming invoice reception and approval
SiO receives invoices from companies in a variety of industries. In 2016 SiO received 18,500 invoices or vendor invoices with a total amount of 750 million. The Business Management process was time-consuming and SiO therefor decided to implement the EHF invoice format in the spring 2015.
“The first thing we did, was to send out an informative letter for all vendors, that we had introduced electronic invoicing. Within eight weeks, we reached our first goal which was achieving to receive 50 percent of all invoices as EHF invoices.”
— Solveig Braathen, Team leder at SiO
Keeping hold of all suppliers
SiO follows the development closely on a weekly basis and the accounting department keeps an eye on the suppliers that not yet is surpassed to the sending the invoices electronically in the EHF invoice format.
"A Successful Transition to the use of EHF invoicing requires that the purchasers and suppliers are included in the process of implementing electronic invoice processing. We work closely together with system developers from Ibistic on supporting our suppliers with the transition to the EHF invoice format. "
- Irene Lorentzen, Chief Accountant at SiO
Several advantages using EHF Invoicing
The Implementation of EHF format for processing invoices has brought on several advantages both financially and regarding administration. SiO is satisfied according to Irene Lorentzen and Solveig Braathen. They both agree on the fact that, the transition to electronic invoicing with Ibistic has been beneficial in several ways both financially and in reducing energy spent on administration.
"EHF invoices are sent directly from the sender to the recipients ERP-system - and the accounting department " don’t have to distribute the invoices. Because EHF invoices automatically are being loaded daily - we quickly get pur updated figures/numbers in the ERP system. This reduces the risk of errors and provides us with a better overview.