Automating Accounts Payable with Basware
Toyota saved their account’s team 60% of the time they spent on payments and 50 working hours a month on dispute management!
A specialist in the manufacturing of electric and thermal forklifts, Toyota Industrial Equipment mainly sells its products in Europe (80% of its sales). The components manufacturer designs between 8,000 and 10,000 forklift trucks each year: made-to-order manufacturing which aims to meet customers’ specific requirements.
The Toyota Industrial Equipment group modernized its finance, accounts and admin function, improving job satisfaction and performance.
Reduction in payment times
Saved on dispute management
Better Budget Monitoring
The company faced invoice peaks at the end of each month which made the Accounting Department’s tasks extremely tedious and time consuming.
Each year, the company processes around 30,000 invoices, an average of 2,500 invoices a month. These figures can increase when business is thriving, a fact which rapidly led Toyota Industrial Equipment to weigh up the importance of implementing an effective solution to facilitate the management of supplier invoices.
In addition, litigation management was another weak area for the company. The number of litigation cases to be dealt with was leading to significant time loss on several levels
Implemented by SYLEG, one of Basware’s official partners, the Basware AP Automation solution enables automatic processing of supplier invoices, and even expense management
“As an official partner to Basware, Syleg played a key role in the implementation of the solution. Its expert knowledge of the constraints associated with the accounting function and its ability to take these constraints into consideration, the remote configuration of the product and Syleg’s high degree of responsiveness where adjustments were required ensured that the project was a real success,” says Mikaël Bourdin, Head of Accounting.
The new solution received a warm welcome. By completely eliminating paper, many errors are avoided and invoice validation has become easy and quick.Mikaël Bourdin, Head of Accounting, Toyota Industrial Equipment
Not only has Basware helped Toyota Industrial Equipment eliminate all the tedious manual work for their accounts team, they have also saved around 50 working hours a month when it comes to dispute management.
Productivity gains are sought at all levels, even in offices! This software enables this objective to be achieved. Mikaël Bourdin, Head of Accounting, Toyota Industrial Equipment
Thanks to the monitoring view used by five people, including Head of Management Control, budget monitoring has been significantly optimized (including the quick and easy checking of invoices, and use of statistics, etc.). Generally, processes have been simplified considerably.
In summary, these are the benefits that Toyota has experienced, with the help of Syleg.
1: Rapid implementation for instant time savings The solution was quickly adopted by the team, and the Finance and Administration Department has seen a 60% saving in payment times.
2: More efficient dispute management Optimize invoice tracking and the ability to do on screen checks has made dispute management much more efficient. Time savings: 50 working hours a month.
3: Significantly optimized budget monitoring Thanks to quick and easy invoice checking and the availability of statistics on screen, processes have been simplified considerably.