“InExchange – Part of our environmental work”
Vasakronan is the largest property company in Sweden. They own and manage office and retail properties in Stockholm, Uppsala, Gothenburg, Malmö and Lund. A large company like Vasakronan could have a big impact on the environment, but that is not the case with Vasakronan. The corporate group has a fierce commitment to environmentally friendly practices. This includes everything from green electricity and eco-labelled purchasing to fewer processes involving paper.
“InExchange makes a direct contribution to our environmental practices, allowing reduced usage of paper and reduced transport, which accounts for a sizeable proportion of the company’s environmental impact”, says Christer Björkman, CFO at Vasakronan.
For an eco-friendly group like Vasakronan, the transition to e-invoicing went without saying.
“We send and receive e-invoices with InExchange. We don’t have very large volumes of outgoing invoices but we want to offer this as a service to our customers. We receive far more invoices and InExchange receiver service is the one we use. At present 43% of our total volume of invoices are electronic invoices.”
So why InExchange?
“InExchange is different to many of the traditional VAN operators who want to sell consultants’ hours rather than a service. We saw that they had previously managed to start up a lot of e-invoice suppliers very quickly and they had good references from other customers. They seemed like an interesting, exciting supplier.”
Vasakronan had high expectations at the start of the project, which were quickly fulfilled.
“The set-up project was implemented very effectively. Things moved quickly and we had a high uptake of suppliers within a short time.”
Not just environmental benefits
InExchange reference checking, which detects whether the invoice has the correct reference code, has been a big help.
“The reference check means that we have less work dealing with incorrect references. It means that the invoice enters the system quicker and can be processed for certification and payment. Each invoice becomes cheaper to process.”
Christer thinks that it will enable more service companies to find ways to achieve a sustainable environment.
“E-invoicing is the future. There is no reason for transferring information from your computer to paper, which is then scanned or recorded in the receiver’s accounting system, when you could send it directly. In the long run, environmentally-friendly practices will be essential for attracting customers. Both existing and new. Many service-providers do not have much of a specific environmental impact in their operations. In that case a company could focus on such aspects as paper consumption in the office and how to process its own waste materials”, concludes Christer.