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Finnish Government

Solution : Procure-to-Pay

The State Treasury of Finland helps central government agencies and institutions achieve savings in their operating expenses and boost productivity by developing efficient internal services and processes. The State Treasury develops services and processes in cooperation with the Ministry of Finance and the Finnish Government shared services center for finance, administration, and HR. The Finnish Government implemented SoftCo AP Automation (SoftCo AP) to automate the processing of over 3 million invoices per annum.


Challenge

The Finnish Government was spending 1,000 man hours processing each inbound supplier invoice which cost €30 per invoice. The invoice volume was in excess of 2.7 million annually, 20% of which arrived electronically. The process was inefficient, expensive to manage, and incurred manual errors. 


Solution

SoftCo AP fully automates invoice processing throughout the State Treasury of Finland. Invoices are registered, routed for approval, and non-compliant invoices are escalated for resolution. SoftCo AP manages both paper and electronic invoices and is fully integrated with SAP and Oracle Financials. SoftCo StorLife compliant archive ensures invoice and reporting compliance. 


Results

SoftCo AP reduced the cost of processing each invoice from €30 to €10 and has saved billions of man hours and €40 million a year on invoice processing. The Finnish Government has gained full visibility of all of its invoices, reduced invoice processing times, improved financial control, and increased archive and reporting compliance.


Quote

“We did an analysis in three of our state accounting offices, and we found that the cost for processing an invoice has dropped from €30 to €10 per invoice with SoftCo AP.”

Jere Reinikainen, Finnish Government

Finnish Government

Highlight

The Finnish Government automated its invoice processing and saved €40 million a year on invoice processing with SoftCo AP.

Quote

“It’s so easy to see what invoices we have and what is happening to them.”

Jere Reinikainen, Finnish Government

Sample P2P Clients