Toyota Industrial Equipment relies on Basware to automate its Accounts Payable

Customer Success Story Toyota Industrial Equipment Toyota Industrial Equipment relies on Basware to automate its Accounts Payable Basware's invoice automation solution helped the industrial division of the Toyota Group to modernize its Finance and Administration function. By enhancing invoice validation and dispute management, the new solution greatly improved job satisfaction and performance of the company's accounts payable team. A specialist in the manufacturing of electric and Implementing invoice automation thermal forklifts, Toyota Industrial Equipment Customer mainly sells its products in Europe (80% of its for easier invoice validation and sales). The components manufacturer designs dispute management Name between 8,000 and 10,000 forklift trucks each Implemented by the company SYLEG, one of year: made-to-order manufacturing which aims Toyota Industrial Equipment Basware's official partners, the Basware Invoice to meet customers' specific requirements. Automation solution enables automatic Sector processing of supplier invoices, and even expense management. Manufacturing of industrial A Finance Department faced with forklifts (thermal and electric) two main issues ” A  s an official partner to Basware, Syleg played a key role in the implementation of the solution. Its expert knowledge of the Location The company is faced with invoicing peaks at constraints associated with the accounting the end of the month which make the France function and its ability to take these Accounting Department's task extremely constraints into consideration, the remote tedious and time-consuming. Each year, the configuration of the product and Syleg's high company processes around 30,000 invoices, an degree of responsiveness where adjustments average of 2,500 invoices a month. These Challenge were required ensured that the project was a figures can increase when business is thriving, real success,” Improve accounts payable a fact which rapidly led Toyota Industrial says Mikaël Bourdin. productivity Equipment to weigh up the importance of imple- menting an effective solution to facilitate the Realize cost savings by management of supplier invoices. improving dispute management In addition, litigation management was another weak area for the company'. The number of litigation cases to be dealt with was leading to significant time loss on several levels. ” T  hese two elements highlighted the need to modernize the whole of the Finance and Administration function to increase produc- Basware solutions adopted Basware Invoice Automation tivity,” explains Mickaël Bourdin, Head of Accounting for Toyota Industrial Equipment. The solution, comprising also invoice validation, Time savings and optimized budget The journey was implemented in the company's Accounting Department and was well received by the teams. monitoring: conclusive results Step 1: Rapid implementation, Users were offered training to gain a better Basware Invoice Automation has enabled a instant time savings understanding of the tool. Overall, the considerable amount of time to be saved when implementation project with supervised support it comes to payments: 60% saving in time, i.e. The solution was quickly lasted 9 months. around 8 working hours a month. Invoices are adopted by the team, and the automatically categorized and there is no Finance and Administration ” T  he new solution received warm welcome. By completely eliminating paper, many errors are avoided and invoice validation has become reconciliation to be carried out. In terms of dispute management, the Finance Department has seen a 60% saving in time (i.e. around 8 working hours a month). easy and therefore quick. The teams Department has seen savings of 50 working appreciate the optimized invoice tracking, the hours a month. ability to view them and simply being able to Step 2: More efficient dispute check them on screen,” Thanks to the monitoring view used by five management people, including Head of Management Control, adds Mikaël Bourdin. budget monitoring has been significantly Optimized invoice tracking and optimized (quick and easy checking of invoices, the ability to do on screen The solution eliminates all of the tedious manual statistics, etc.). Generally, processes have been checks has made dispute work, enabling accountants just to focus on simplified considerably. management much more their job. efficient. Time savings: 50 ” T  he new solution is as indispensable as cash-flow software was a few years ago…and all the more so given today's competitive working hours a month. climate where administrative resources are Step 3: Budget monitoring limited. Productivity gains are sought at all significantly optimized levels, even in offices! This software enables this objective to be achieved,” Thanks to quick and easy concludes Mikaël Bourdin. invoice checking and the availability of statistics on screen, processes have been simplified considerably. The Toyota Industrial Equipment S.A. counterbalance truck manufacturing facility is located in Ancenis, France. It produces forklifts for the European market. The facility covers 35,000 m2 and employs 400 people. It produces both internal combustion engine and electric powered forklifts with a capacity of 1.5 to 5 tons. Along with the manufacturing plant, the company also has a spare parts distribution centre.