Food production companies rely on technology solutions to ensure productivity and business success, especially those running global operations. In this Acceleration Case Study, learn how Mowi, a leading global seafood company, automated accounts payable processes to scale business growth. By partnering with Medius AP Automation, Mowi adopted a cloud solution that streamlined AP processes across its 25 worldwide locations.
Business Challenge – Streamlining Accounts Payable Processes
Founded in 1964, Mowi has since experienced rapid growth due to several mergers and acquisitions. This created a complex IT infrastructure with disparaged business applications, resulting in minimal visibility and data synchronization issues.
The company eventually adopted a new global template for all of its business applications. Initially, the journey began by transferring its ERP system to the cloud. Mowi needed to find the best cloud applications that could easily integrate its ERP system, Infor M3, to meet specific needs, such as automating the accounts payable process.
- Mowi created several different evaluation guidelines for finding the best AP automation solution, including:
- Proven integration within the Infor M3 ERP system
- Quality user experience
- Robust automation capabilites for matching invoices
- Cloud-based to improve accessibility
- Additionally, the solution needed to be available for all operational entities across 25 countries in Asia, Europe, North America, and South America.
Software Solution – Medius AP Automation
Mowi partnered with Medius AP Automation largely due to their previous experience with Infor M3 implementations. To test and determine appropriate administrative policies, Mowi began with a pilot implementation of Medius AP Automation in one country. After its success, Mowi rolled it out in other locations throughout the business.
An advantage of the solution was the user-friendly interface. For instance, it simplified new user onboarding using remote training sessions. This interface also enabled the company to maintain an implementation schedule and assist other offices across the globe.
Final Results
After implementation, the vast majority of invoices in Mowi use Medius AP Automation. It creates a streamlined accounts payable process. Because finance teams don’t have to perform manual tasks, day-to-day work is more efficient, saving time and resources. With everyone using the same process, the company can have global standardization across its finance and reporting departments.
Mowi can monitor and analyze process performance and KPIs at all times to find areas of improvement. It’s further implementing automation throughout the AP process. For example, Mowi focuses on identifying any invoices that didn’t include a buyer reference. It actively reaches out to suppliers to teach them how to correct future mistakes. This initiative allowed Mowi to increase the number of invoices sent with the correct buyer reference.
Now, the company has complete visibility of the entire invoice process. Mowi can identify bottlenecks, which improves process improvements further and maximizes efficiencies.
Purchase order data stored within Infor M3 is synchronized by using Medius AP Automation. It enables automatic matching of invoice data and corresponds with receipts and purchase orders. This entire experience creates a touchless process. The connector for Infor M3 ensures proper invoice matching and accounting throughout its global business.
Since deviations sometimes appear during the matching process, staff members at Mowi keep a close watch on invoice processing. This usually occurs if the master data hasn’t been updated correctly or the buyers or suppliers don’t follow standard processes. Either way, staff members can use the reporting functionality within Medius AP Automation to identify deviations while taking the appropriate actions to create additional improvements to the process.
