Industry:
Manufacturing
Basware plays a pivotal role in KION’s ongoing compliance and digital transformation journey.
KION, a global leader in forklift trucks and warehouse equipment, operates across six continents with over 42,000 employees and generates approximately €11.4 billion in revenue. With a presence in more than 100 countries, KION offers comprehensive supply chain solutions. To optimize their Accounts Payable (AP) processes, improve operational efficiency, and harness advanced AP technology, KION forged a strategic partnership with Basware.
The partnership started during KION’s pilot phase to consolidate European entities into a Center of Excellence in Poland. Recognizing the need for modernization and enhanced automation, KION started to transition to Basware’s more sophisticated AP solutions.
Basware’s European reach is much more comprehensive than other AP providers, and their compliance services will ensure KION adheres to the new mandates being launched across Europe and beyond.
Thomas Müller, Senior Director, GPO Finance Supply Chain at KION Finance Solutions
Key takeaways
50%
decrease in invoice cycle time
90% +
spend under control
66%
e-invoicing rates
KION's Challenges
Fragmentation among entities and a partial reliance on manual paper-based invoicing held back KION’s operational efficiency goals. A lack of a user-friendly interface, combined with inconsistent invoice handling across local offices, further complicated their invoice management.
We required a sophisticated and automated solution to enhance our AP processes, as it was clear our legacy systems weren’t going to provide the support needed to achieve our objectives.
Looking at their legacy systems, KION decided they lacked the innovation and automation potential necessary to comply with the evolving compliance mandates across Europe.
Results
KION achieves remarkable efficiency milestones with Basware
Since implementing Basware solutions, KION has achieved remarkable efficiency milestones. Their previous transition to a shared service center now shows more process harmonization and better efficiency by streamlining invoice submission and ensuring timely payments from suppliers. Basware’s continuous innovation promises further efficiency enhancements as KION progresses their internal alignments.
Comprehensive analytics empower KION’s AP optimization efforts, enabling informed decision-making through insightful KPI monitoring and dashboard presentations. The touchless processing rate increased to 42%, showcasing substantial automation gains, while the e-invoicing rate reached an impressive 58%, indicating streamlined processes and reduced manual intervention. Invoice cycle times decreased by 50%, currently averaging 7.6 days. KION now maintains over 90% spend under control, underpinning better financial oversight and management.
Basware’s AP Automation solutions have unlocked significant opportunities for KION. With enhanced efficiency and global compliance capabilities, we are well-positioned for future growth and innovation.
Thomas Müller, Senior Director, GPO Finance Supply Chain at KION Finance Solutions
Enhanced User Experience and Strategic Advantages
Basware’s superior user interface was welcomed by KION’s workforce, fostering clearer communication and understanding. The platform’s modern design and intuitive features eased adoption and usage. Leveraging Basware’s global presence, KION is now able to take advantage of direct Basware-to-Basware connections, reducing complexity and costs associated with disparate solutions.
Future Prospects and Continuous Improvement
Basware continues to play a pivotal role in KION’s ongoing digital transformation journey. With Basware as their default AP processing solution, KION’s upcoming SAP S4 Hanna implementation aligns seamlessly with their strategic objectives. The partnership with Basware extends beyond software provision, with the Customer Success Team actively collaborating to enhance KPIs and deploy solutions across all KION locations. KION is also interested in new offerings like the Audit and Recovery Services, Statement Reconciliation, and AP Protect solutions and aims to pilot these soon.
Driving AP Excellence with Basware
KION’s partnership with Basware has established significant improvements in AP efficiency and compliance. Basware’s innovative solutions, coupled with KION’s commitment to excellence, position them for sustained growth and operational optimization. As KION continues its digital transformation, Basware remains a trusted partner, driving AP excellence and strategic success