Finance Digitization and Automation: Insights from Billerud’s Journey
Welcome to this inspirational summary of the recent EBG webinar where Jesper Persson, Business Developer at Billerud and Jari Paananen, Senior Solution Value Advisor at Basware shared their transformative journey in digitizing financial processes.
Key Highlights
- Process Understanding: Standardizing and harmonizing processes was crucial for automation.
- AI & Automation: Leveraging AI through solutions like Basware’s Smart PDF resulted in a 66% cost reduction per invoice.
- Continuous Improvement: A Kaizen-inspired approach enabled Billerud to complete 148 improvements in 2023 alone.
- Collaboration: Strong internal and external partnerships facilitated the transition to a more efficient finance function.
Watch the On Demand recording
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Top Takeaways
To achieve similar success, organizations should:
- Map and standardize processes before implementing automation.
- Adopt AI and RPA to replace repetitive, non-value-added tasks.
- Create a culture of continuous improvement.
- Engage stakeholders and ensure clear communication of benefits.
- Prepare for a tech-savvy workforce eager for change and innovation.
Looking Ahead
Billerud plans to further innovate by focusing on:
- Enhancing self-service capabilities for stakeholders.
- Exploring new RPA solutions for advanced automation.
- Building stronger collaborations within and outside the organization.
This journey showcases how organizations can leverage technology, process optimization, and collaboration to transform finance into a strategic enabler.
About Billerud
Billerud provides paper and packaging materials that challenge conventional packaging for a sustainable future. We are a world leading company in high-performing paper and packaging materials made from virgin fiber; passionately committed to sustainability, quality, and customer value.
The company has nine production units in Sweden, USA, and Finland with around 6,100 employees in over 13 countries and customers in over 100 countries. Billerud has an annualized turnover of approximately SEK 42,6 billion and is listed on Nasdaq Stockholm.
About Basware
Basware is how finance leaders in global enterprises can finally automate their complex, labor-intensive invoice processes and stay compliant with regulatory change. Our AP automation and invoicing platform helps you achieve a new level of efficiency – in a matter of months – while reducing errors and risks. We bring a unique combination of true automation, complete coverage, and deeper expertise to make it all just happen for our customers. That’s why the world’s most efficient AP departments at 700+ global customers rely on Basware to handle over 170 million invoices per year. Basware. Now it all just happens.™