After automating and accelerating invoice processing, Magasin enjoys large savings of cost and time
When Scandinavian retailer Magasin du Nord realized that invoice approvals took too long and sometimes did not happen by due dates, it took the drastic step of changing to fully electronic invoice approval and processing with To-Increase Invoice Workflow. The solution integrates flawlessly with Microsoft Dynamics AX, the ERP system in use at the company.
- Invoice approval time shortened from up to two weeks to as little as a day
- €200,000 annual savings and 40 percent time reduction in invoice processing through automation and reduced resource needs
- Expansion of electronic approvals from vendor to product invoices
- Centralized control and visibility of invoice approvals and status for the finance department
- Number of employees: 5,000
- Website: www.magasin.dk
- Country or region: Scandinavia
- Industry: Retail
- To-Increase Invoice Workflow
- Microsoft Dynamics AX
Magazin du Nord is Scandinavia’s leading department store retailer and also maintains a thriving online business.
The company wanted to reduce the time and cost of approving and processing invoices, because current practices were too labor-intensive and time-consuming.
Magasin du Nord deployed To-Increase Invoice Workflow and integrated it with Microsoft Dynamics AX.
Download the Magasin case study
The To-Increase solutions helps Magasin resolve issues and reach their goals