Company information
Turbulent times
It was a turbulent time when the Lotto Arena opened its doors, a small copy of the Sportpaleis. In the following years, there were acquisitions of others, the Stadsschouwburg Antwerp, Grenslandhallen Hasselt, Capitole Gent, and Vorst Nationaal. This meant a massive change for both the entire organization and the employees of the accounts payable department, where the annual 10k incoming invoices were still processed by hand. Tom Vleminckx, who works in the accounting department at the Antwerps Sportpaleis: The invoice flow has expanded enormously due to all developments, and this was visible at all our locations. Invoices came in but were left at the sites. Invoices were paid twice or entirely forgotten. We received notices of invoices that we had lost, and so on. This was the moment when it became necessary for us to take more control over this.
A new process
Looking for a secure solution for the incoming invoices, the Antwerp Sportpaleis started with an orientation on the document automation market. The Lexs Sportpaleis came into contact with Lexmark's software solutions through Lexmark reseller Dynatos. Dynatos introduced ReadSoft Online, a cloud invoice processing solution. Kluwer's accounting package was already in use by the organization, so one of the selection criteria was a seamless link between the accounting package and the invoice processing solution. Several factors convinced the organization to opt for ReadSoft software, including the ability to associate the software with the accounting package, affordability, and workflow that ReadSoft Online provides for the invoice approval process.
How our software helps
ReadSoft Online has several advantages for us. The program is stable, and if a problem arises, quick support is available. Besides, the status updates of invoices that we receive daily by e-mail are very lovely, so we know exactly what still needs to be done in the invoice processing process. Also, we can determine which persons are authorized for the different types of invoices. As a tip I would like to add someone from IT to start a project for automatic invoice processing, it is useful to have this knowledge available, continues Vleminckx. Our department is happy that we are off the paperwork. I would definitely recommend the software, especially for organizations with offices in multiple locations.
Tom Vleminckx
Accountant - Antwerps Sportpaleis
Results
Currently, about 60% is received by post and 40% by e-mail. On our to-do list, however, is to move our suppliers more and more towards sending invoices by e-mail, this will make the entire process even more efficient. At the moment, all these invoices are received by one person located at the Antwerp Sportpaleis. If invoices do arrive at other locations, they are forwarded via the scanner or e-mail. This person assesses which other individuals this invoice should be sent to, and thus the approval workflow of ReadSoft Online starts. We have designed this work reasonably simple. You can, of course, make it much more complex and complicated, but it was the most pleasant for us in this way. Invoices are now paid on average within two weeks after receipt.
Tom Vleminckx
Accountant - Antwerps Sportpaleis