RunMyProcess DigitalSuite increases visibility of invoice processes by building workflow applications that reduces manual tasks and improves productivity.
During K2M’s international expansion, invoices and global payments were centralized by the accounting team in the United States to ensure consistent processing. The process was very time consuming as local sales and administration teams were required to send scanned copies of invoices to the US and then wait for payment – and it wasn’t possible to receive a status update in the meantime. K2M experienced lack of productivity and loss of time due to manual and disconnected processes.
K2M considered managing the invoice approval workflow in their JD Edwards application but ruled this out due to the cost and timescales of the necessary development work. In 2013, they approached Fujitsu RunMyProcess looking for help in building a cost-efficient workflow solution that could be easily accessed from any device and location.
RunMyProcess DigitalSuite digital application has helped K2M save time, improve turnaround, and deliver greater compliance globally – an essential capability for a public company operating in the healthcare industry. And all of this has been achieved without the need for increased resources.
Importantly, visibility into invoice status has not only increased internal efficiencies but has also delivered external benefits, freeing salespeople to focus on selling and service rather than wasting time querying invoice status for vendors. At the same time, the global nature of the solution meant that the benefits of this new invoice management approach was available to all subsidiaries as a single shared service. K2M team was also able to retrieve past invoices and information stored on the RunMyProcess DigitalSuite platform, enabling K2M to compare rates and expenditure trends, thanks to the ergonomic search functionality.
Following their success with Fujitsu RunMyProcess in Europe, K2M is investigating further potential projects – ranging from the direct integration and automation of JD Edwards data entry, through to the implementation of new processes such as the approval of purchase requisitions for purchase orders.
K2M Group Holdings, Inc. is a global medical device company which designs, develops and commercializes minimally invasive complex spine technologies. These are used by surgeons to treat some of the most difficult and challenging spinal pathologies. The company has bought an increasing number of products to the market for patients suffering from degenerative spinal conditions and is a major competitor thanks to this success. Headquartered in Leesburg, Virginia, in the U.S, K2M also has subsidiaries in the United Kingdom, Germany, Italy, Austria, and Switzerland.