KBC Digitizes Accounts Payable with Tungsten ReadSoft Process Director

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As a bank assurance company, KBC’s purpose is to help all its stakeholders realize their dreams and protect them. The digitization of accounts payable with Tungsten ReadSoft software is part of this goal. KBC saw how the efficiency and transparency benefits of an automated invoicing system could deliver cost savings and happier suppliers.

The Challenge

Every year, KBC processes more than 90,000 invoices with approximately 15,000 potential users who are operational within these processes.

The Solution

KBC undertook an AP automation project and called in the assistance of Dynatos and Tungsten for the implementation. Based on the aforementioned shortcomings, the company outlined several important requirements for the new solution.

The Results

The most significant improvement is that invoices are immediately digitized, coded and sent for approval. This is a true change of the working procedure within KBC. Anybody with knowledge of SAP can see that the invoice has been registered, its current status; that is, whether it is being coded, data being verified, approved, entered or paid, and who is dealing with it.

Focus

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“We can now follow every step in the process. Every workflow includes a history and, therefore, everything can be traced. Management wanted an overview of the entire AP process. That has been achieved!"

Bart De Backer,

SAP Logistics & Finance Lead Analyst. KBC

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Meet KBC

KBC provides banking and insurance services to private clients and small- and medium-sized businesses. KBC serves 10 million customers in the core markets of Belgium, the Czech Republic, Slovakia, Hungary and Bulgaria, and employs approximately 36,000 people.