ADT & Tyco save over 400,000 Euros with Basware Invoice Automation
ADT Fire and Security plc and Tyco Fire & Integrated Solutions (TF&IS), both Tyco International companies, have selected leading purchase to pay provider Basware for invoice automation services in a deal that has saved the company over EUR 400,000 in the first year. The services were implemented across multiple locations in the UK, to provide a centralised point of processing.
ADT is the world leader in electronic security solutions with a number of locations throughout the UK and a team of 5,000 staff. TF&IS is the UK’s leading fire protection solutions provider with a team of 2,000 staff. ADT & TF&IS traditionally processed invoices at each local site through decentralised ERP systems. However, the implementation of the Basware solution enabled them to centralise the system, which is now hosted from a new Shared Services Centre in Manchester, unifying invoice processing nationally, to enable complete visibility and control over spend and requisition.
The Basware Invoice Automation solution automates the entire invoice-handling process: from the data capture of paper-based and electronic invoices right through to matching the invoices with purchase orders and contract information, to review and approve for payment. The business-rule based matching minimises the need for time-consuming and repetitive invoice handling tasks and gives full visibility of invoices. The implementation has enabled the introduction of SLAs and KPIs into the Shared Service Centre while the immediate error feedback functionality means issues can be resolved straight away. More efficient processing, along with visibility of invoices has helped reduce the number of enquiries received direct into the AP team.
“We had talks with a number of vendors but the Basware solution provided the best fit because of its ability to be customised according to the existing processes and ERP solutions in each of our UK locations. At the same time, we are part of a larger global organisation, so we wanted to implement a solution that would be flexible enough to accommodate any future changes to processes across international operations,” said Steve Katona, UK Accounts Payable Manager at ADT and TF&IS.
Katona continued: “Managing the invoicing process is now much more efficient for the Shared Services Accounts Payable team. We’re now processing 70,000 invoices for each accounts payable employee whereas before we implemented the system we were only processing about 10,000. Basware has helped us to achieve a 75% reduction in invoice cycle time, down from four weeks to five days, so we are processing the 420,000 invoices we handle per annum much more efficiently.”
ADT and TF&IS process hundreds of thousands of invoices annually, so a centralised depository was vital to improving efficiency in its processes. Having everything in one place has saved the organisation a significant amount of time as well as reducing costs.
“The challenge for Basware was to centralise ADT and TF&IS’ Accounts Payable function to provide visibility across what had previously been a hugely diverse system. At the same time, we had to ensure that the solution was flexible to changes within global operations,” said Dr. Matt Lees, Country Manager for Basware UK.
“Cost-cutting is a huge priority for most businesses, especially at the moment, so it’s great to see ADT and TF&IS making £400,000 worth of savings through our services. It really highlights the efficiencies and cost savings that automating your processing can bring by making the move to electronic from paper-based accounting.”
About Basware
Basware is the global leader in purchase-to-pay solutions with more than 1,500 customers and 850,000 users in over 50 countries around the world. With Basware, organizations can reduce the cost of buying and paying for goods and services and gain visibility and control of their entire spending process by automating manual processes, from sourcing, contract management, purchasing and supplier collaboration to invoice automation. Basware solutions and services enable substantial cost reductions across businesses and deliver value by providing compliance and control, as well as fast return on investment. The solutions are distributed and implemented, either on site or as a service, in Europe, the US, and Asia-Pacific through an extensive network of Basware offices and business partners. www.basware.com
About Tyco Fire & Integrated Solutions
Tyco Fire & Integrated Solutions, a Tyco International company, designs, installs and services fire detection, protection and suppression systems, safety and control systems across Europe, the Middle East and Africa. With more than 6,000 employees, including engineering, design and service experts, Tyco Fire & Integrated Solutions serves the oil & gas, marine, traffic & transportation, commercial, education, healthcare and other industries. For more information visit www.tycofis.com
About ADT
ADT, a Tyco International company, designs, installs and services fire and electronic security systems for residential, business and government customers. In Europe, the Middle East and Africa, ADT's products include intruder alarms, closed circuit television, access control, electronic article surveillance, radio frequency identification, fire detection, fire suppression, integrated solutions and monitoring. They are used to deter thieves and protect people, goods and property. For more information visit www.adtemea.com