Kuwait-based oil and petrochemical company, Q8 has deployed a web-based invoice automation solution Contempus.Invoice, to optimize financial management across its European network of service stations and streamline the handling of the 120,000 invoices it receives annually.
Contempus is providing the invoice solution to process all the invoices received at its headquarters in the Netherlands and Denmark.
According to the company, a strategic benefit to Q8 of the Contempus.Invoice solution is that its advanced line-matching technology extracts essential supplier details and the purchase order information, and cross-references this with invoice information.
Where authorization is required, the web-based nature of the solution streamlines the approval process for sales and engineering staff. Invoice approval requests are automatically generated and sent via email to remote staff, enabling them to view and approve invoices quickly and easily through a secure web-based browser.
Paul Neuteboom, IT-projects and development manager at Q8, said: A large proportion of invoice processing is now fully automated, and invoices requiring approval can be dealt with rapidly, maximizing productivity and enabling staff to focus on core business priorities.
Before we processed invoices electronically, they were manually mailed out to staff working abroad for approval, but this led to delays and to documents being lost or mislaid.