How Norwegians largest waste and recycling company achieved economies of scale by shifting to electronic invoice processing

 

Norsk Gjenvinning, Norway's largest provider of waste and environmental services, has used Ibistic as its preferred tool for electronic invoice approval and processing since 2005. Ibistic Invoice System is integrated with SAP, which is the company's current ERP system. At the beginning of the cooperation in 2005 about 40,000 invoices were processed in Ibistic. Consequently, the scanning of invoices was processed within the organisation. However, it was eventually learned that this part of the process was easier handled via Ibistic as well.

 

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Invoice scanning, however, was after some time moved to Ibistic’s scanning partner instead. In this way, we achieved economies of scale that we would not have been able to achieve on our own. Today about 125,000 invoices are being processed every year. A total of 13 companies within the group are now using Ibistic as their solution for handling incoming supplier invoices.
— Baard Bjørnstad, manager of NG

 

Smart function - Automatic tiered approval hierarchy

For a company of this size with a high level of internal control, it is a necessity to be able to manage the approval process and keep an eye on the status of the approval of incoming invoices. For this purpose especially the approval hierarchy in Ibistic Invoice System has been of great benefit to the Norwegian company.

 

The use of Ibistic as invoice system has made it possible to use different digital channels for receiving invoices such as eInvoices and e-mail with an attachment to the transfer to the accounting system. All accounting and approval of invoices is decentralized. The approval hierarchy function in Ibistic ensures that invoices are approved at the correct level of authorisation in the organization and helps to meet the Group’s requirements for satisfactory internal control
— Baard Bjørnstad, manager of NG
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Achieved economies of scale using electronic invoice processing

Norsk Gjenvinning is Norway's largest supplier of recycling and environmental services. In the course of a year the company handles 1.8 million tonnes of waste for roughly 44,000 clients. In 2015 they brought a total operating income of 4.091 billion Norwegian kroner and an operating profit of 107 million. With more than 1,468 employees, the company is the leading employer in recycling and environmental services in the Norwegian market.

 

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By combining the electronic invoice channels via Ibistic with the opportunity to build rules for who will receive the invoice for billing, we have managed to increase the efficiency of invoice processing significantly. The rules set up in Ibistic have enabled a quicker and more accurate issuance of invoices to the correct person in the organization. We intend to continue working with Ibistic to further streamline the use of the invoice system.
— Baard Bjørnstad, manager of NG

 

 

find further information here about the Ibistic Invoice System for Invoice handling.