£ 0
saved annually on FTE cost
0 %
reduction in invoice approval time
MS Dynamics Nav ERP
10,000 invoices
Veterinary indusry
Impact of Invoice Processing System
The system is very simple to use. It’s still a change and any change needs training. Once people get the initial 20 minutes of training, it saves time on their approvals and allows them to focus on what they do best, providing care to animals.”
Kelly Towell
Head of AP
Before we used to have phones ringing off the hook with people chasing invoices and queries because of manual errors. I was thinking what can we do to reduce manual errors and the time it takes to deal with invoices in Dynamic Nav? And what can we do about the amount of queries we’re getting?”
Kelly Towell
Head of AP
Enhancing Dynamics NAV with Advanced Invoice Processing System
Challenges in Optimising Invoice Processing Due to Rapid Growth
As CVS Group plc underwent rapid expansion, they faced significant challenges with their invoice processing, particularly with the high volume of invoices, which included around 10,000 supplier invoices and 15,000 staff expenses monthly. The manual operations within their Dynamics NAV system were fraught with errors, leading to an increased number of supplier queries and operational inefficiencies. This situation highlighted the urgent need for an advanced invoice processing system that could integrate seamlessly with Dynamics NAV, streamlining the entire accounts payable process and reducing the manual workload involved in invoice management.
Achieving Efficiency and Accuracy with Invoice Processing System
To address the inefficiencies in their invoice processing, CVS Group selected Kefron AP, known for its seamless integration with Dynamics NAV. This decision was driven by the need for a more robust and automated invoice processing solution that could handle the complexity and volume of their growing operations. The implementation involved a comprehensive setup phase, where specific requirements were tailored to ensure that Kefron AP not only integrated well with Dynamics NAV but also enhanced the overall efficiency of the invoice processing workflow. This strategic integration facilitated a smoother transition from manual to automated processes, significantly improving the management of their invoice system.
Enhanced Efficiency and Reliability in Invoice Processing
The integration of Kefron AP invoice processing system with MS Dynamics NAV brought substantial improvements in CVS Group’s invoice processing worflow. This new system significantly reduced manual errors and cut down the time required for invoice approvals by 67%, demonstrating a marked increase in operational efficiency.
Furthermore, the automation capabilities of Kefron AP, combined with the robust functionality of Dynamics NAV, led to a fourfold reduction in the need for full-time equivalents (FTEs), optimising resource allocation. The streamlined invoice processing also resulted in timely payments and a notable decrease in supplier queries, which not only enhanced supplier relations but also allowed CVS staff to focus more on providing top-quality care to animals. These tangible benefits illustrate the success of the system integration, showcasing how effective the combination of Kefron AP and Dynamics NAV can be in transforming business processes.
Quick Links
FAQ
What is an invoice processing system?
An invoice processing system automates the steps involved in receiving, processing, and paying invoices from suppliers. It typically includes features like electronic invoice capture, automated workflow for approvals, and integration with financial systems.
How can an invoice processing system improve business efficiency?
An invoice processing system streamlines the entire accounts payable process by reducing manual data entry, speeding up invoice approvals, and minimizing payment errors, thereby enhancing overall business efficiency and financial accuracy.
How does an invoice processing system reduce costs?
An invoice processing system cuts costs by automating routine tasks, reducing the need for paper-based processes, minimising human errors that can lead to costly discrepancies, and shortening the cycle time of payments, which may qualify the business for early payment discounts.
How does invoice processing automation integrate with Dynamics NAV?
Invoice processing automation integrates with Dynamics NAV through API connections that synchronize data between the two systems. This integration facilitates the automation of data entry, enhances the accuracy of financial records, and provides a unified view of accounts payable within Dynamics NAV.
Please confirm your country