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Financial documents in Directum RX: 119 days saved in a year

55

time reduction for inner reports preparation

100000

documents per year are uploaded for audit and tax requests

5

systems are integrated end-to-end

350

users

Signed NDA

The company produces medical items and equipment, medicaments, and consumer goods for health. 265 units of the company are established in 60 countries across the world.

The subdivision of one of the largest health care corporations organizes financial documents workflow with suppliers via Directum RX. Thanks to it, an effective external and internal electronic collaboration was organized.

Goals and objectives

The company’s activities entailed processing a great number of financial documents. A significant part of this work was done manually with the help of outsourcing companies. The special department scanned the originals and entered them into the EArchive system to then process them and send to SAP.

This process became too time-consuming and ineffective. Company's ERP system was outdated and did not support some types of financial documents. That resulted in difficulties in the implementation of new processes and optimization of the current ones.

In 2020, company management has decided to standardize document processing using Directum RX:

  • to optimize work with paper and electronic documents from suppliers;
  • to build unified digital infrastructure by integration of systems used in the company;
  • to reduce manual work when processing documents originals;
  • to create an electronic archive of financial documents the language of law;
  • to organize the digital exchange of accounting documents with the suppliers.

As a result, end-to-end integration of paper and electronic document workflows was organized.

Solution

Financial documentation

Financial documents management is organized through Directum RX “Financial archive” solution. Thanks to it, there is an effective tool for a quick search and upload of documents for tax inspections and audit. Auto formatting of PDF files made browsing original documents more comfortable.

All financial electronic documents and scan copies of the originals are stored in a unified archive.

  • Processing of incoming financial documents became digital:
  • entering scan copies into the system is faster;
  • bar code processing is easy;
  • routes for approval of financial documents are predefined.

During the project, a new document type – “Dossier” – was developed. It is a set of simultaneously processed financial documents with meta-data. Dossier card has information on details on the bank, a counterparty, reception date, contract’s link, payment reference number, etc.

Financial Archive

Electronic exchange with counterparties

Integration with the electronic document management system allowed users to interact with the counterparties in the “single window” of Directum RX: the documents are uploaded into the system automatically. To approve and sign incoming originals the eSignature is used. In Directum RX it is easy to monitor any changes of the structured document; the initiator can easily control the whole process.

Today 5% of all financial documents are processed via electronic exchange services. Interaction is going with the suppliers registered in various exchange systems. In the future, full-scale transfer to the digital exchange is planned.

Integration

To support the company’s processes the end-to-end integration was organized with:

  • SAP Galaxy to synchronize data on purchase requests, organizations and bank info;
  • an exchange service to receive financial electronic documents and to send replies;
  • Captiva to synchronize scan of a paper document with the extracted metadata; the system also verifies and recognizes documents requisites;
  • SAP Lynx to export package files while posting in the global SAP in Prague and to receive payments and process’s results;
  • RUBI, which connects SAP and Directum RX; information on purchase applications, organizations, bank details, users accounts are coming from the system.

5 systems are integrated end-to-end

Results and plans

Achieved effect:

  • the number of manual operations is reduced;
  • time of preparation for audit and tax requests is decreased;
  • work with paper and electronic financial documents from contractors is optimized;
  • a unified digital ecosystem was built in the company thanks to the integration of 6 systems.

Gradually all processes in the company are becoming digital. In the near future company management plans to digitalize contractual and Rebates processes.

119

days in a year are saved

55%

time reduction for inner reports preparation

100000

documents per year are uploaded for audit and tax requests

5

systems are integrated end-to-end

350

users

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