Swedol streamlines invoice processes with Logiq
A specialist for professionals
With more than 100 stores in Sweden, Norway and Finland, as well as their online shop, Swedol is a preferred specialist store for professionals. The company was founded in 1963 and is now operating under the leadership of Momentum Group, a business group with an annual turnover of more than 8 billion SEK.
A costly and highly manual process
Deviations and lack of information in the invoices received tied up resources in tiresome and repetitive tasks. When aggregated, these tasks represented a significant amount of work hours.
"Invoices that were unclear or hard to read often gave us extra work, which in turn required resources that could otherwise be put into developing the business"
Rikard Hällmark, Chief of Accounts Payable at Swedol
Relieving the bottleneck
Based on the amount and complexity of invoices received, Swedol was looking for a flexible and responsive partner to help them optimize their invoice flow and reduce the costs.
After receiving good references, Loqiq was chosen to take on the task. Further, Logiq proved their ability to meet Swedol with responsive action, good understanding of Swedol’s problems, and promises of a smooth implementation.
After setting up with Logiq as VAN-operator for receiving invoices, the project moved on to implement Logiq Document Control to optimize the flow. Logiq Document Control is a service that validates and corrects incoming documents based on individual requirements and business rules. By addressing the most usual deviations, many of the manual processes could now be automated and streamlined.
Optimizing outgoing invoices
While receiving invoices is important, the ability to reach recipients with outgoing invoices is perhaps even more so. Based on their good experiences with incoming invoices through Logiq, Swedol decided to go for Logiq’s Multichannel invoice distribution.
With Logiq, Swedol can now send invoices in the channel that their customers prefer. Logiq takes the heavy lifting in converting and translating the invoices to the required format (EDI, Peppol, eInvoice, e-mail or print) and provides confidence in the delivery of the documents.
Results
Today, Logiq processes approximately 200 000 invoices per month for Swedol. The collaboration has enabled cost savings, improved quality, and reduced manual handling. With a more efficient invoice flow and services that simplifies their work, Swedol can now better utilize their resources.
"We are very pleased with the transition to Logiq. Their customer service and response time, as well as the adaptability they have shown us, has been top notch!"
Rikard Hällmark, Chief of Accounts Payable at Swedol
About Swedol
Swedol, operating in the business area of Alligo, as part of a sizeable cluster of businesses, within the Momentum Group is a leading Nordic multi-specialist, foremost within the building and construction sector. With more than 100 outlets and web shops in several countries under the names Swedol, Tools, Grolls, Univern and Nima, they can offer expertise, presence and a cost-effective experience for their customers.
About Logiq
Logiq is a leading Nordic network for the exchange of trade documents between companies. We offer full support and exchange of all document types in the “Purchase-to-pay” and “Order-to-cash” processes, streamlining digital communication for over 5,000 businesses.
