200,000 invoices a year – captured automatically.

The starting point

200,000 invoices a year – checked by hand.

With more than 120 clients and 35 years of experience, Hamburg-based nordwest Factoring & Service GmbH is one of Germany's leading mid-sized factoring companies. It handles the entire accounts receivable and receivables management for its clients – for a total of around 35,000 debtors.

The core task: recording, checking and archiving around 200,000 invoices and documents per year, which arrive by email, mail and fax. These processes were entirely manual – they tied up too many resources, were outdated and held back growth plans. After all, planned acquisitions of further factoring companies were to succeed without a proportional increase in staff.

The assignment

A portal with a high degree of automation.

Managing Director Simon Schach commissioned SITEFORUM to design and implement an interactive portal for clients and employees. The goal: the highest possible degree of automation across the entire invoice workflow.

• Clients submit invoices via login upload or email
• Invoices are read automatically and checked for plausibility
• Employees only review data that deviates
• Checked data goes directly into the ERP system (limit check, payout)
• Automated archiving with easy search

The solution

OCR and artificial intelligence instead of manual data entry.

After a two-week analysis of the existing setup and processes in Hamburg, a portal with two connected areas was created: a customer portal and a production portal for employees. Submitted invoices are read in batches within seconds using OCR technology and artificial intelligence and checked for plausibility.

• Convenient upload – in the customer portal via login or automatically via email inboxes
• OCR + AI – invoices are read and checked in seconds (bank details, amounts, customer number)
• Split-screen review – invoice on the left, data on the right; only discrepancies are checked manually
• ERP handover – checked data flows directly into further processing
• Automatic archiving – with fast search for every invoice

The result

In some cases up to 100% time saved.

Within just a few days, employees noticed significant time savings – in some cases up to 100% of the previous data entry time. The planned acquisition of further factoring companies can now be realized without a proportional increase in staff. Convinced by the results, management quickly commissioned further expansion stages to automate adjacent processes.

We have never captured invoices as quickly and easily as with the new portal.

Simon Schach Managing Director, nordwest Factoring & Service GmbH