Kaffebrenneriet: boosts efficiency with Rydoo Accounts Payable

Kaffebrenneriet wanted to improve data collection and automate more of its accounting processes. Today, invoices from its major suppliers are largely automated, and the people responsible for approving invoices have a much simpler workflow.

"We realized early on, and still see, that this is a cost-effective project, considering the work hours saved both externally and internally," says Morten Meiholt, CFO at Kaffebrenneriet, about implementing Rydoo Accounts Payable for accounts payable automation.

Just ten days after implementation, three out of four invoices were being processed automatically. A few months later, the automation rate had reached around 85%, and invoices from half of the company's ten largest suppliers are now handled 100% automatically.

"Previously, our staff carried paper invoices around for approval, but now they can use a smartphone or computer. This has not only made their work much easier, but also improved data quality and given us better centralized control," says Meiholt, adding that it was eye-opening to see how well the solution's AI performed.

"I was positively surprised by how quickly Rydoo Accounts Payable's AI made an impact. It has opened my eyes to using AI in other systems as well."

"I was positively surprised by how quickly Rydoo Accounts Payable's AI made an impact. It has opened my eyes to using AI in other systems as well."
— Morten Meiholt, CFO, Kaffebrenneriet

Major differences

For an organization that receives deliveries at 44 different locations and handles around 12,000 incoming invoices a year, paper-based routines were very labor-intensive. The team realized that digital tools could deliver significant efficiency gains in invoice approval, accounting and automation.

"Rydoo Accounts Payable came out on top in all areas," says Meiholt.

"For us, it is crucial to have a solution that can handle each invoice line separately. We receive many similar products, but we need to allocate costs accurately to each department so we can use the accounting system as a management tool," he explains.

Meiholt decided it was better to have automation driven by machine learning rather than by a set of rules, choosing AI over RPA (robotic process automation), because maintaining a rule-based hierarchy would never be as effective. Kaffebrenneriet saw Rydoo Accounts Payable as being at the forefront of AI, making it the most forward-looking system on the market.

Key analytics opportunities

"We already use Power BI, and with Rydoo Accounts Payable's open API, we see great potential for gaining a deeper understanding of our cost structure. For instance, we can quickly and easily analyze the data to see whether one supplier's prices are higher than another's, how much prices increase over time, and so on," Meiholt explains.

"We already use Power BI, and with Rydoo Accounts Payable's open API, we see great potential for gaining a deeper understanding of our cost structure."
— Morten Meiholt, CFO, Kaffebrenneriet

For Kaffebrenneriet, it was also crucial that Rydoo Accounts Payable could integrate seamlessly with the company's ERP system, Visma Global.

"The integration was a critical part of the implementation and involved several stakeholders. We were anxious about going from sales promises of 'anything is possible' to the actual implementation, but it turned out to be a very positive experience," says Meiholt. "The fantastic Rydoo Accounts Payable project team guided us through a smooth process, and it took just a month from contract signing to a live solution."

Nearly a year after implementation, the benefits of automation are clear.

"We see that 93% of all invoices are automatically sent to the right person for approval, and the system handles about 85% of VAT processing on its own," Meiholt explains.

While Kaffebrenneriet doesn't disclose the exact savings from using Rydoo Accounts Payable, Meiholt is clear that the business case is strong.

"We've calculated it, and the savings are significant. As we continue to grow, it's incredibly helpful to have scalable solutions like Rydoo Accounts Payable," he concludes.