Allianz is one of the leading companies in the insurance industry, offering a comprehensive range of insurance and asset management products and services to 85 million customers in more than 70 countries. Prior to 2006, Allianz’s Eastern Europe subsidiaries had been using a mix of SAP, Oracle, and local ERP systems. In 2006, Allianz began implementation of a Shared Service Center (SSC) with the goal of establishing a uniform SAP template for all its subsidiaries worldwide in order to manage business processes more efficiently.
Allianz started with the invoicing process, deploying Kofax Capture to scan all invoices and their associated paper documents on location. The solution uses optical character recognition (OCR) technology to transform the content into reliable accounting information. Key terms are identified and used to automatically route the digital documents to an electronic workflow to be processed centrally and paid immediately. The capture solution integrates seamlessly with SAP for easy visibility into the entire invoice process.
The solution greatly simplified document capture for the entire company and completely eliminated the problems of the past. For a number of Allianz’s subsidiaries, the time required for an invoice run is now only eight hours between receiving an invoice and paying it a drastic improvement over the former four-day timeframe. After the accelerated invoicing process proved successful, the SAP functionality was expanded to integrate ordering and purchasing with accounting, improving business process efficiency and enhanced customer service.