Fraikin Streamlines Invoice Management and Credit Analysis with Amista’s APconnect Solution
Customer
FraikinIndustry
AutomotiveTechnology used
APconnect, RecoMatics Document SuiteAbout our client
Fraikin TR Belgium nv is a company based in Machelen, Belgium, operating in the truck rental, leasing, and fleet management industry. The company has around 50 employees and utilizes a custom-built ERP system.
The Challenge
Fraikin, a leading truck rental and leasing company, faced challenges in digitizing its accounts payable (AP) processes. Handling incoming invoices from various formats (paper, email, etc.) while ensuring smooth approval workflows was a time-consuming task. Their current process also lacked transparency and consistency in credit analysis for both potential and existing clients.
The company needed a solution to automate invoice management, streamline approvals, and improve the credit analysis process by integrating it with their existing ERP system.
The Solution
Fraikin partnered with Amista to implement APconnect, a solution designed to automate and digitize invoice processing, approval flows, and credit analysis. The solution consisted of three core components:
Automates the extraction of invoice information, reducing manual input.
Organizes tasks and approvals, providing a seamless flow from invoice reception to approval.
Offers a digital archive for quick and easy access to all invoices and documentation.
Additionally, Amista extended the workflow platform to accommodate Fraikin’s specific credit analysis process, allowing them to gather and analyze information from multiple stakeholders before making investment decisions.
Results & Benefits
- Efficiency Gains: Fraikin saw a significant reduction in manual tasks, leading to faster processing times for invoices and credit approvals.
- Error Reduction: Automation reduced human error, improving data accuracy.
- Enhanced Transparency: Real-time insights and reports provided stakeholders with better visibility into the status of approvals and credit analysis.
- Sustainability: The digital platform reduced paper use, contributing to Fraikin’s sustainability goals.
- Time Savings: By automating routine tasks, Fraikin’s team had more time to focus on strategic activities, improving overall productivity.
ROI
Fraikin now enjoys faster, more accurate invoice and credit data processing, saving time and resources while empowering stakeholders to make data-driven decisions.
We were struggling to get insights into our AP department. Especially the business was having trouble keeping oversight over invoice approvals. Amista’s solution helped us digitize multiple processes and take data-driven decisions.