Published on the 10/09/2021 | Written by Fujifilm
AT A GLANCE
INDUSTRY
- Mānuka honey and bee consumer goods
BUSINESS OBJECTIVE
- Enable remote working
- Faster processing of invoices
- Improved visibility over the procurement cycle and less compliance risk
SOLUTION
- Esker platform
- Fujifilm Process Automation
- Esker Anywhere mobile app
BUSINESS BENEFITS
- Full reporting on requisitions, items purchased, invoices processed, and payments
- Raise POs and pay recurring invoices automatically and electronically without any printing
- Accurate and efficient payments
- Ability to negotiate better rates with future suppliers
FOR MORE INFORMATION
FUJIFILM Business Innovation
W: FUJIFILM Business Innovation
New Zealand
E: kevin.ptak.pc@fujifilm.com
T: +64 21 275 4321
Visibility of procurement and payments delivers compliance and fraud prevention…
Comvita was founded in 1974, with a purpose to heal and protect the world through the natural power of the hive and is the global market leader in Mānuka honey and bee consumer goods. Their procure-to-pay cycle was being hindered by excessive paperwork.
“Paper costs money, and shifting it around to individual desks takes effort and time,” explains Lisa Blackstock, Comvita’s GM of Finance. “Sometimes invoices would stay on peoples desks, so we’d have a lot of chasing up to do. It was also hard to see which invoices we could pay and which were still waiting for approval, while some invoices required more than one signature, which only magnified the challenge.”
“My team needs more exercise, as they’re no longer running around with pieces of paper!”
Solution
The Fujifilm Process Automation team took a comprehensive and proven approach to implementation, starting with an on-site workshop to understand Comvita’s current processes and identify areas for improvement. This discovery phase informed the proposed solution, which was then built over six weeks. After deploying the software, training was provided, followed by twenty days of support to get the Comvita team comfortable with the new solution.
The Esker platform provided by Fujifilm Process Automation has proven a sweet deal for the company – and a particularly timely one, with the implementation completed just ahead of the COVID-19 lockdown.
Results
Comvita’s executives had no difficulty processing purchase orders and invoices during the lockdown, thanks to the Esker Anywhere mobile app. “The timing of the new solution couldn’t have been better. Quite simply, if we were on the old system, we would have had a major problem,” says Blackstock.
With AI-powered data capture, touchless processing, and digital workflow capabilities, Esker optimises spend requests and goods/services ordering. Every Purchase Requisition is raised and authorised electronically before a Purchase Order is issued. Every transaction is tracked – from purchase request to invoice approval, with full reporting on requisitions, items purchased, invoices processed, and payments made.
Integrating the Esker platform with Comvita’s Enterprise Resource Planning (ERP) solution was easy thanks to Esker’s multiple ERP integration capability. Comvita gained further efficiency by having a single unified view across their business.
The net result is that Comvita can raise POs and pay recurring invoices automatically and electronically without printing a single sheet of paper. They have complete visibility of their purchases and payments at any time while also meeting their compliance and anti-fraud obligations.
Blackstock says Fujifilm’s engagement, onboarding, and delivery processes were impressive. “This was promised at the start and delivered in practice. The consultant, for example, remained engaged throughout, helping facilitate the implementation and support us in the initial phase of use.”
The company’s suppliers love the introduction of Esker too. “The accuracy and frequency of payments have improved, and they benefit from the improved visibility our team enjoys over the procurement cycle,” Blackstock confirms.
While it is still ‘early days’ for Esker at Comvita, she says the company is preparing to take full advantage of the visibility and analytics. “We’re working on setting up limits and approval lines as well as better understanding our procurement so we can contract approved suppliers and negotiate better rates.”
In short, Fujifilm Process Automation and Esker has made life better for the finance department, Blackstock says. “There is only one complaint, though, my team needs more exercise, as they’re no longer running around with pieces of paper!”
Source: This article was originally sourced from FUJIFILM Business Innovation
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