Read how Billerud aimed to streamline AP team efforts, particularly in manual invoice processing, leading them to adopt Basware's Smart PDF solution, which leverages AI to enhance PDF invoice processing. The result? Faster and more accurate data extraction and significant cost savings within a few months.
Billerud, a 150-year-old company, is a global leader in high-quality paper and packaging materials committed to sustainability, quality, and customer value. The company operates ten production units in Sweden, Finland, and the US, boasting approximately 6,000 employees in 14 countries and serving customers in over 100 countries.
One key challenge Billerud was keen to solve was reducing the amount of time the AP team allocated to non-value-added activities, such as the daily hours dedicated to manual invoice processing. At this point, they considered using Basware’s Smart PDF solution to replace their outdated OCR solution which suffered from low data quality and required high manual processing.
How SmartPDF reduced non-value activities
Leveraging AI and Machine Learning, Basware has modernized PDF invoice processing, ensuring faster and more accurate data extraction while requiring minimal validation. This solution processes PDF invoices, using deep learning, text extraction, and AI vision to extract and transform them into authentic e-invoices.
One factor contributing to the solution's rapid time-to-value was the removal of manual data capturing from the AP team. Incoming PDF invoices are now of such good quality that the AP team can allocate their time to more value-added tasks.
Over 90% of Billerud's PDF invoices are now seamlessly validated automatically, underscoring the immediate value delivered by the SmartPDF solution. This has delivered some remarkable results; 66% reduction in handling PDF invoice costs and a 25% decrease in total monthly costs demonstrate tangible cost savings.
"The efficiency gains we achieved translated directly into tangible cost savings, paving the way for a rapid return on investment within just a few months."
Jesper Persson, Business Developer at Billerud
Read the full Case Study here.
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