KM Trading Streamlines Business Processes and Meets Audit Mandates with Contentverse

KM ‘s more than 350 employees are equipped with all latest technologies, laboratories to carry out research work, and other resources that assist in releasing the best products and services in their range. From their Group Headquarters in United Arab Emirates, KM Trading’s network of supporting offices and logistics warehouse extend out to Hong Kong, China, Thailand, Indonesia, Spain, and Brazil. Their primary objective is to source and transport quality products to their retail network of Supermarkets and Department stores across UAE and Oman.

The accounts division has state-of-the-art facilities in UAE, monitoring and reckoning for the group-wide operations, specifically those emanating from KM Trading’s twenty-seven locations in the UAE and Oman. To streamline these business operations and meet mandatory audit requirements KM Trading’s accounting department turned to Computhink’s ECM solutions. The Contentverse ECM was able to solve their needs and augment their in-house ERP system.

The Challenge

The accounts department stores and manages valuable, confidential documents. These include purchase orders, goods received notes, tax invoices BPM, cheque receipt, and purchase return, which are utilized and referred to on a regular basis.

The transportation and operations associated with each type of document, including subsequent follow up actions, were time-consuming. They required urgent optimizing. These key challenges centered around processing and storing between 3,000 and 3,500 documents daily:

• Customer invoices verification based on the delivery and location
• Finding Customer invoices for releasing payments
• Auditing challenges

The Resolution

After implementing Contentverse’s intelligent workflow, together with Computhink’s quick and easy integration to existing mission critical applications, KM Trading experienced the following:

• Near instant input and transfer of documents from all locations to a central system for access and processing
• A significant increase in the processing efficiencies and subsequent tracking of purchase orders and customer invoices
• Integration with the in-house ERP system enabled exchange of data and information, avoiding double entry and reducing possible manual data input errors.
• Dramatic reduction in processing times and immediate resolution of queries with the ability to provide the relevant supporting documentation
• Lightning fast access to data and information required for all auditing purposes
• Near instant access to documents company-wide 24/7
• With access to the digital copy of the document, immediate reference to where the mandated physical documents are stored

Return on Investment

With all of the efficiencies and cost savings KM Trading Group were able to realize, a return on investment is definitely expected within 120 days. Through Computhink’s integrations, Contentverse’s streamlining and productivity boost, and implementation and support provided by Cube Innovators, KM Trading Group has solved all of their challenges and more.

 

You can download a PDF of this case study below.