”A huge difference for our cash flow”
Swedol began working with InExchange in the spring of 2013 to send and receive e-invoices. In the spring of 2014 they implemented an extremely successful project for quickly and easily connecting thousands of customers. Quicker payments, less administration and a safer processes were some of the benefits of e-invoicing that Swedol mentioned to us when we met with them at their headquarters in Tyresö. We met Anna-Karin Gustavsson and Marie-Louise Johansson from the finance department, as well as Torbjörn Hestell, the IT project leader/coordinator.
Together, they implemented e-invoices for Swedol’s accounts receivable. Since beginning its cooperation with InExchange, Swedol has been able to drastically reduce the amount of time they spend handling paper, as well as their administrative process. Another significant advantage lies in the payments. “We get paid faster when we send electronically – on average a week earlier than before. Because we have such large invoice volumes this makes a huge difference for our cash flow”, says Anna-Karin.
Most customers want to receive invoices electronically It’s not just the liquidity that gets better; time is also an important aspect. “We have no manual processing for the invoices that we receive via InExchange. Everything comes in and is sent out automatically” says Marie-Louise. “We send a batch of invoice files to InExchange, who then distributes them. We do not notice or need to think about what format is sent” explains Torbjörn. Torbjörn had experienced InExchange’s services through another workplace and decided to introduce InExchange to Swedol. When they began to send electronic invoices to their customers his colleagues were pleasantly surprised. “I didn’t think that so many customers could receive electronic invoices; it exceeded my expectations. Most people want their invoices electronically, while the few that still want paper are rapidly decreasing. It’s starting to become the norm”, Anna-Karin says in response to the fact that they can now send e-invoices to over 8,000 of their customers. “We were very pleased that we could reach such high volumes with InExchange” she continues.
“Now we know the invoices will surely arrive. It’s definitely safer” Security is important to Swedol. “Sending a letter, or even an email, is like handing over the invoices and hoping they get to the right place. With InExchange, the e-invoices and pdf-invoices are always delivered. If they don’t arrive, we get a notification about it. Now we know that the invoices will arrive. It’s definitely safer”, says Anna-Karin. The project to implement InExchange in Swedol’s invoicing routines, led by Anna-Karin, was a total success. “It was a successful project. It has gone quickly and smoothly” she says. “It does not matter which one of you we contact, everyone at your office is so positive and happy – we always get help when we need it. The project has, all in all, exceeded our expectations” concludes Anna-Karin.