Financial documents in Axirum: 119 days saved in a year

Signed NDA

The company produces medical items and equipment, medicaments, and consumer goods for health. 265 units of the company are established in 60 countries across the world.

The subdivision of one of the largest health care corporations organizes financial documents workflow with suppliers via Axirum. Thanks to it, an effective external and internal electronic collaboration was organized.

Solution

Financial documentation

Financial documents management is organized through Axirum “Financial archive” solution. Thanks to it, there is an effective tool for a quick search and upload of documents for tax inspections and audit. Auto formatting of PDF files made browsing original documents more comfortable.

All financial electronic documents and scan copies of the originals are stored in a unified archive.

• Processing of incoming financial documents became digital:

• entering scan copies into the system is faster;
• bar code processing is easy;
• routes for approval of financial documents are predefined.

During the project, a new document type – “Dossier” – was developed. It is a set of simultaneously processed financial documents with meta-data. Dossier card has information on details on the bank, a counterparty, reception date, contract’s link, payment reference number, etc.

Financial Archive

Electronic exchange with counterparties

Integration with the electronic document management system allowed users to interact with the counterparties in the “single window” of Axirum: the documents are uploaded into the system automatically. To approve and sign incoming originals the eSignature is used. In Axirum it is easy to monitor any changes of the structured document; the initiator can easily control the whole process.

Today 5% of all financial documents are processed via electronic exchange services. Interaction is going with the suppliers registered in various exchange systems. In the future, full-scale transfer to the digital exchange is planned.

Integration

To support the company’s processes the end-to-end integration was organized with:

• SAP Galaxy to synchronize data on purchase requests, organizations and bank info;
• an exchange service to receive financial electronic documents and to send replies;
• Captiva to synchronize scan of a paper document with the extracted metadata; the system also verifies and recognizes documents requisites;
• SAP Lynx to export package files while posting in the global SAP in Prague and to receive payments and process’s results;
• RUBI, which connects SAP and Axirum; information on purchase applications, organizations, bank details, users accounts are coming from the system.

5 systems are integrated end-to-end

Solutions used