Delivering process transparency that enhances functional efficiency

Case Study

© Copyright 2011 Efima Oy

Case Peikko GroupOperating in the international marketplace, Peikko Group is a Finnish producer of fastening technology for concrete structures. Employing circa 700 people, the company has operations in 27 countries. Key target groups are construction companies and factories producing construction materials. Peikko uses Microsoft Dynamics AX in its operational management. Efima’s Invoice Workflow and Travel & Expenses solutions have been integrated into the system, delivering significant improvements in process efficiency and transparency.

Clear intentions, clear solutionsPreviously, Peikko’s purchase invoice process had been completely manual. The approval process had been built during the past five years. Now the goal was to make the actual purchase behind the invoice visible to the invoice approvers through automation. Peikko wanted the capability to drill down to the costs of each cost centre through a clear user interface. The Group was also looking for an easy-to-use solution for its travel claims process. The clear intention was to achieve improvements in process efficiency.

Identifying fit-for-purpose solutionsCollaboration began with implementation of Efima’s 360°analysis. Peikko’s situation was viewed from different perspectives to identify the most fit-for-purpose and efficient solution that would support the company’s business strategy. Esa Rusila, CFO at Peikko Group, considered the analysis an excellent starting point for the project, proving Efima’s competence and establishing confidence in the partnership. ”Efima’s substance matter knowledge has been crucially important in the automation of the processes. It has brought us a lot of extra efficiencies, and now we know where to look for more – for instance, in reporting”, Rusila says.

During the first phases of automating the invoice process, it became clear that the optimum solution for handling purchase

invoices would be within the ERP (Enterprise Resource Planning) system. The Efima Invoice Workflow service, built on top of Microsoft Dynamics AX, was the natural solution. Automating finance processes requires deep knowledge of the process and its functions, as well as the capability to integrate the application with other solutions (such as the scanning service and e-invoicing). According to Rusila, it was Efima’s combination of understanding of financial processes allied to the capabilities of Microsoft Dynamics AX that made the company the right choice for Peikko.

Rusila comments: ”We were looking for two things: transparency of costs starting from the actual invoice, and efficient throughput of the process. We wanted to have a clear view of our costs at the point where they are entered into the process.” Internal customer satisfaction – making the invoice approvers’ work easier – is also one of the key benefits of the new system. The management travels a lot and now they can, for example, utilise their time at airports to approve invoices with traveling no longer causing delays in invoice approval.

Further areas for improved efficiencyThe project has also enabled the identification of further areas where improved efficiency can be achieved. These include implementing the Purchase Invoice and Travel & Expenses solutions across

The Finnish family-owned Peikko Group is a pioneer in the fastening technology

of concrete structures across Europe. Peikko Group focuses its activities on

the European construction market and serves its customers via a network of

subsidiaries and selected partners. The company manufactures its products at

three production sites in Finland, Germany and Slovakia. In 2008, its turnover was

115 million euros and the company employs 700 people.

Efima improves the financial management and business management processes of

large and mid-sized companies. Efima delivers expertise across financial management,

processes and systems, and has over 10 years’ experience in cloud services and

digital financial management. This unique combination ensures fit-for-purpose

solutions, based on clients’ business goals. Efima’s services include consulting,

outsourcing and cloud-based software.

Esa Rusila, CFO, Peikko Group

”We aimed at two things: transparency of costs and process efficiency.”

© Copyright 2011 Efima Oy info@efima.com Tel. +358 10 470 5450 www.efima.com

subsidiaries. Germany and Slovakia are first on the list. Since the ERP system is already in use in 12 countries, and the Purchase Invoice and Travel & Expenses processes have now been defined, the roll-out is expected to bring immediate benefits. The next step in Peikko’s and Efima’s co-operation is to automate the sales invoice process globally.

At a glance

The starting point• Automate paper-based, manual

purchase invoice process.• Improve efficiency and ease-of-use of

travel claims system.• Microsoft Dynamics AX in use across 12

countries.

The solutions• Efima 360° analysis.• Efima Finance/Invoice Workflow:

automation of purchase invoice process.• Efima Finance/Travel & Expenses:

automation of travel & expenses process.

The rewards• Costs transparency.• Improved efficiency both in approvers’

time consumption and in the finance processes.

• Invoices matched with orders.• Faster reporting.