Invoice management solution built for Dynamics AX
Two well-known Danish bakers, Ole Kristoffersen and Steen Skallebæk, founded Lagkagehuset in 2008, merging their two bakery and retail operations founded in the early 1990s. Lagkagehuset, which is headquartered in Copenhagen, today maintains 31 locations across Denmark. Lagkagehuset bakeries offer a wide range of breads, pastries, cakes, sandwiches, salads, coffee, and other drinks. The company aims to provide an excellent customer experience through the high quality of its products, the service, and the interior architecture and design of its retail locations.
Lagkagehuset handles all accounting and bookkeeping centrally, but the approval of close to 30,000 invoices every year takes place in the retail locations and bakeries. The largely manual processing of invoices and approvals absorbed significant time from the approvers and finance managers in the retail shops and the corporate finance team.
When Lagkagehuset acquired and deployed its new ERP system, Microsoft Dynamics AX 2012, it also wanted to implement an invoice scanning solution from ReadSoft. Company managers hoped to be able to match purchase orders and invoices line by line. To accomplish this, ReadSoft recommended To-Increase Invoice Workflow. The Invoice Workflow implementation took just two days and provided all the functionality Lagkagehuset sought. The solution integrates deeply with Microsoft Dynamics AX, and provides a consistent interface that employees find intuitive and easy to use. Lagkagehuset uses Invoice Workflow’s automation capabilities to their fullest extent.
Substantial savings and support for growth
The solution’s usability alone already generated new efficiencies and savings. In addition, workers in the shops and bakeries still verify that they receive the goods they ordered, but they no longer need to approve invoices that match orders—those are automatically approved and posted. This change eliminates much activity that is no longer necessary. Only non-matching invoices need to be reviewed more closely before they can be approved.
Lagkagehuset has ambitious plans for growth. The scalability of Invoice Workflow makes it possible for the company to pursue its plans for additional shops without hiring more people in its finance department.
Soren Israelsen, CFO at Lagkagehuset, says, “To-Increase Invoice Workflow provides us with significant savings now and in the future. Invoice Workflow is so intuitive that we actually didn’t need any introduction to the system. All processes that can be automated are automated, and all the saved clicks quickly add up to many saved working hours. Invoice Workflow is a simple, thoroughly proven, and excellent system.”