90%

reduction in manual

AR invoice processing costs

50%

reduction in AP invoice

handling times

100%

visibility of AR invoices

and supporting information

“Within a year of deploying SoftCo eBilling, we have benefited from a 90% reduction in postage and handling costs.”

Dave Geoghegan, Group Financial Controller, United Hardware Ltd

Challenge

With a combined group turnover of over €400 million, Homevalue Hardware is a buying group for over 100 independent home, garden, DIY and builders merchants throughout Ireland. Homevalue Hardware needed to manage a complex, manual billing process with over 155,000 paper invoices issued every month. In addition, each independent member placed orders directly with a vendor, who sent the vendor invoice to Homevalue Hardware. Over 155,000 invoices were manually processed annually. Invoices were received in both paper and electronic formats, and for legal compliance required a company revenue stamp. Homevalue Hardware had to pay the vendor, generate an AR invoice manually, and invoice the member.

Solution

SoftCo Accounts Payable Automation provides Homevalue Hardware with full visibility over their entire AP Process, fully automating the capture, matching, and approval of 155,000 vendor invoices before payment posting to their Integrity ERP system. The solution captures all Homevalue Hardware invoices electronically and pre-populates fields using SoftCo’s outsource service.  Invoice approval and query management is streamlined through the automated routing of invoices to assigned business users. The solution integrates seamlessly with Homevalue Hardware’s internal ERP system, Integrity, ensuring that approved invoices are automatically posted to Integrity for payment. SoftCo eBilling fully automates the issuing of Homevalue Hardware’s 144,000 customer invoices each month. Homevalue Hardware configures billing frequencies and distribution methods for each of their customers, issuing invoices much faster than their previous manual billing process and accelerating payment cycles.

Results

By implementing SoftCo Accounts Payable Automation, Homevalue Hardware have reduced invoice-handling times by 50%. Auto-match has delivered straight-through processing of invoices. Fully automated and configurable workflows for invoice query resolution and approval have further reduced the manual touchpoints involved and accelerated the overall process. With SoftCo eBilling, Homevalue Hardware have achieved a 90% reduction in manual invoice generation, processing, distribution, and postage costs. The solution sends legally compliant, digitally signed invoices, and related data electronically to their member stores. The SoftCo eBilling portal addresses all payment queries and ensures the AR team and members have full visibility of all AR invoices and supporting information.

Information
  • Industry:Hardware
  • Solution:Accounts Payable Automation
    & eBilling
  • Region:Ireland
  • Employees:1,500+
  • Vendor Invoices:155,000 per annum
  • Customer Invoices:155,000 per annum
  • ERP System:SAP

Homevalue Hardware is part of United Hardware, a substantial representative group and a market leader in sourcing and purchasing products. The company has a network of over 80 independently owned hardware stores in Ireland and a combined group turnover in excess of €400 million. The business specialises in Hardware, Gardening, Commercial Buying, and Builder’s Merchants.

“We have reduced instances of invoice handling by 50%, increased our internal visibility and we have reduced our invoice processing backlog by 30%. We no longer handle paper, we manage exceptions.”

Dave Geoghegan,
Group Financial Controller, United Hardware Ltd

Case Studies

Why choose SoftCo?

SoftCo’s Smart Automation solutions automate Procure-to-Pay, Accounts Payable, Vendor Management, eBilling and Contract Management processes. Reducing costs, increasing efficiencies and delivering an intuitive user experience across all devices. SoftCo Compliant Archive is SÄHKE2 and ISO 27001 certified, meets all compliance obligations and effectively manages all organization data.

Smart Automation

User Experience

Return on Investment

Security & Compliance