Successful transition to automated EHF invoice processing at SiO
The Welfare Organisation for students, SiO Norway Student Life in Oslo and Akershus (SiO), have been first movers in implementing the use of electronic invoicing. Today 85 percent of the incoming invoices are being processed electronically in the accounting department at SiO. That is, 100 percent of invoices are being processed digitally, and 85 percent of these are processed in the new EHF format.
Time-consuming invoice reception and approval
SiO receive invoices from companies in a variety of industries. In 2016 SiO received 18,500 invoices or vendor invoices with a total amount of 750 million. The Business Management process was time consuming and SiO therefor decided to implement the EHF invoice format in the spring 2015.
Keeping check on all suppliers
SiO follows the development closely on a weekly basis and the accounting department keeps an eye on the suppliers that not yet is surpassed to the sending the invoices electronically in the EHF invoice format.
Several advantages using EHF Invoicing
The Implementation of EHF format for processing invoices has brought on several advantages both financially and regarding administration. SiO is satisfied according to Irene Lorentzen and Solveig Braathen. They both agree on the fact that, the transition to electronic invoicing with Ibistic has been beneficial in several ways both financially and in reducing energy spent on administration.
For further information see the article in Business Norway (the economy section) where SiO give an interview about their experience with the implementation of the EHF format.