MULTI-BILLION DOLLAR OTTO GROUP CUTS COSTS BY 76%
WITH IVI’S E-INVOICING & AP AUTOMATION SOLUTION!
COMPLETE AUTOMATION AND DIGITALISATION OF SUPPLIER PAYMENT PROCESSING!
The Hamburg-based Otto Group, one of the world’s most successful e-commerce and retail companies, with over 10 Billion Dollars in Annual Sales Revenues and operations across 20 countries, has outsourced its Supplier Invoice processing to ivi e-Invoicing Services. The world’s leading end-to-end Document Digitalisation Solutions Provider, ivi processes the incoming invoices of the Otto Group ensuring the complete automation of the digital creation, exchange, and processing of request for payments from Suppliers.
The ivi e-Invoicing and AP Automation Solution optimizes the Otto Groups corporate administration processes and provides quality-assured, tax compliant, and audit-proof receipt of paper documents and electronic Supplier Invoices. No matter the document and data format or transmission channel, all paper and electronic Supplier Invoices are automatically converted, data extracted, 100% validated, and quality-assured via the ivi e-Invoicing and AP Automation Solution.
IMMEDIATE RETURN ON INVESTMENT (ROI) ACHIEVED WITH 76% COST REDUCTION!
The flexibility and expertise of ivi to quickly implement and scale the solution according to the Otto Group’s requirements with industry-leading 100% electronic data accuracy, ensures significantly shorter payment cycles, higher savings, and an immediate return on investment.
“Our experience shows that the characteristics of Supplier Invoices make demands on our Finance Department and OCR Solution that simply cannot be met” explains Michael Felix, Head of Service Centre Supplier Traffic at the Otto Group. “That’s why we opted for a specialized solution provider like ivi, enabling significantly better data quality and providing greater savings potential for us.”
Michael continues, “We have been able to greatly reduce the personnel and material costs involved in processing an average Supplier Invoice. The cost reduction has occurred very quickly, with savings of 76 percent!”