Bank halves its invoicing costs

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The SEB Group has chosen TietoEntator’s system e.Fact for the scanning and electronic handling of its 200 000 suppliers’ invoices each year – and expects to halve its handling costs.

“We estimate that an invoice costs us up to $20 to handle, everything included. A large number of the invoices must be sent to and be approved by our offices around the country and then be sent back. Large parts of this administration will disappear with the help of e.Fact”, said Claes Björndell, project co-ordinator at SEB.

SEB examined the market throughout a year, and finally decided on TietoEnator’s system.

“There were competent competitors, but TietoEnator had the best reference project and the greatest experience of supplying large installations. In addition, e.Fact fulfilled our requirements – the system was exactly what we had envisaged”, commented Björndell.

“Electronic invoices are the basis for a completely automated process. More and more suppliers today send electronic invoices, but the scanning of paper invoices is still necessary to a high degree. We see that our customers can radically reduce their costs with the help of e.Fact”, said Mats Aronsson at TietoEnator.

“SEB’s organization, with a central function for invoice handling and many local offices, is very well suited to take the step to electronic invoices, and our experience in the public sector is invaluable”, concluded Aronsson.

With a staff of 10,000 and annual sales of one billion dollars, TietoEnator is a supplier of value-added IT services in Europe. It provides consulting, systems development and integration, operation and support, product development services for customers, and software services. The company has customers in the areas of telecommunications, banking and finance, the public sector and the forest industry.

TietoEnator

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