Amsterdam, December 18, 2014 – Volvo Cars Netherlands has moved 100% of its invoices online, using Anachron’s corporate e-Invoicing solution and services to streamline its order-to-cash processes. The company uses Anachron’s innovative technology to process between 135,000 and 150,000 electronic invoices each year, closing the books 1.5 days faster each month, increasing financial transparency and strengthening decision making. “We’re able to report back to Volvo Corporation at a higher, better, and faster level,” says Guus Buring, Finance Administrator, Volvo Cars Netherlands.
Similarly, Anachron’s technology and digital workflow enable Volvo Car Netherlands’ 115 dealers to reduce accounting work by 30 hours per month, saving approximately 45,000 man hours every year so they can redeploy their staff on higher-level business processes.
Volvo Cars Netherlands previously used print and courier services to deliver invoices to its dealers throughout the country. While car dealers received invoices 24 hours after they were printed, processing, distributing, and paying of invoices taxed internal teams on both sides, creating high staffing and materials costs. “We invested significant man hours and costs in printing and distributing invoices,” says Buring. “We knew we could reduce costs and optimize document flows by adopting Anachron’s electronic invoicing platform.”
With its white-labeled corporate e-invoicing solution, Volvo Car Netherlands can now provide the company’s dealers with invoices within four hours after they are created. Dealers are alerted via email that the invoices are online and available in both XML and PDF format. Dealers can download XML files directly into their ERP system, acquiring accurate data they can use to report monthly performance back to the corporate office faster, while the PDF versions of invoices are digitally signed to ensure their authenticity. In addition to streamlining processes for both biller and recipient, the corporate e-invoicing platform saves Volvo Cars Netherlands € 4000 annually in materials costs. “Volvo is a leader in sustainability, and electronic invoicing is an important step towards achieving a paperless office and protecting the environment,” says Buring.
Anachron’s white-labeled platform is integrated into Volvo Cars Netherlands’ technology environment. Anachron has provided business services to map the XML file types to PDFs, while business partner Canon generates the XML and PDF files each month. The XML files are transmitted seamlessly from the company’s global headquarters to the Netherlands operation and its auto dealers, using the company’s IBM AS/400 computing system.
Volvo Car Netherlands started with 10 different invoice types. The company’s experience with Anachron’s corporate e-invoicing solution has been so successful that the company has extended usage to include additional invoice types, including used cars, BPM, and recap invoices; dealer credits; and bonuses. Anachron also provides archiving services, storing the documents for seven years to meet The Netherlands’ regulatory requirements.
“Anachron has always been honest and reliable,” says Buring. “They provide a great e-invoicing solution and the staff are easy to work with. As a consequence, we’re evaluating new ways Volvo Cars Netherlands can extend the Anachron platform to digitize additional document flows, gaining speed-to-market and cost advantages in the competitive auto industry.”