The ReadSoft effect on: IKEA
Process: Accounts payable automation
Segment: Furniture
Country: Sweden
The IKEA business concept is to offer a wide range of home furnishings with good design and function at prices so low that a majority of the public will be able to afford them—with money left over! Manufacturing beautiful, durable furniture at low cost is not easy. It requires a different approach, simple solutions, and scrimping and saving in every area—except ideas.
Today IEKA is the world's leading home furnishing retailer. IKEA Distribution transports over 10,000 articles from over 2000 suppliers in 53 countries to about 160 outlets in 30 countries each year.
Efficient technology
Improving and using technology in the most efficient way is essential if you want to offer good design at low prices. A smart solution for IKEA was to implement ReadSoft’s software for invoice processing. It certainly helped IKEA to minimize costs and maximize efficiency in administration.
“In our line of business, value for money is a key factor for success. We had to find the most efficient way to capture the vast flow of invoices within the entire organization. We soon discovered that ReadSoft was the natural choice,” says Anders Svensson, Invoice Services Administration Manager at IKEA, Sweden.
Enhanced security
A constantly growing number of IKEA suppliers means increasing numbers of incoming invoices. IKEA wanted centralized invoice control at only four locations in the world.
ReadSoft’s software was implemented primarily to handle invoices. However, it was very important that the software could grow with the organization and its needs. The vision was to use it for any incoming invoice, and ReadSoft’s technology is appropriate. The production environment needn’t change unless a need for new functionality arises.
A customized, smart solution
“It's a very smart solution," says Anders Svensson. "It is essential for us to be able to have full control of the vast flow of incoming invoices. IKEA is constantly growing and we must have systems helping us in a trouble-free way. Restructuring the invoice process has been very friction free. ReadSoft’s product for scanning and interpretation is a very smart solution. We have had it customized; ReadSoft has been able to solve all our specific needs. We have had no big problems. It has been a smooth process and we have gotten a lot of help from ReadSoft.”