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Key Takeaways

Accounts Payable (AP) team handles approximately 100,000 invoices each year

AP solution involves all received invoices being processed, scanned and extracted.

Reduced processing time by 50%

The Challenge

Headquartered in Stockholm, Electrolux is a global leader in household and professional appliances, employing over 60,000 people and selling more than 50 million products to customers in more than 150 markets every year. 

The Electrolux Accounts Payable (AP) team handled approximately 100,000 invoices each year, and had to manually identify the key fields on each invoice before sending for scanning. They required a faster and more accurate invoice processing solution.

"Canon Business Services has helped improve our processing times, eradicated human errors and set up automatic flagging of exception in SpeedVIEW."

Mei Zhou, Finance Manager, Electrolux Home products Pty Ltd

The Solution 

Canon Business Services (formerly Converga) set Electrolux up on SpeedVIEW, CBS’ hosted online document archive repository, to search and retrieve scanned documents across their Accounts Payable, Accounts Receivables, Human Resources and Purchasing Departments. 

Canon Business Services (CBS) introduced an AP solution where all received invoices are processed, scanned and extracted. Invoices that meet all field criteria are sent directly to Electrolux’s financial system, and non matched invoices are routed to SpeedVIEW as ‘exceptions’, where an authorised operator can log into the system to search, correct and update the invoice. Once amendments have been made, the invoice is automatically exported to Electrolux AP Global Shared Service Centre for further invoice processing.

The Outcome 

CBS has reduced Electrolux’s invoice processing time by 50%. All invoices are scanned and data is automatically captured as per the integrity of each invoice. Users can securely log into SpeedVIEW to easily search, view and handle all invoice exceptions minimising manual invoice handling. 

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50% reduction in invoice processing time

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