The starting point
Europcar is the leading rent-a-car company in Europe. In 2009, it decides to change its administrative processes and implement the electronic invoice for two reasons. The first one is as many of its B2B clients (representing more than half of the turnover) demand receiving electronic invoices. The second one takes into account the cost of the process.
Due to the business nature, a single contract can include different services, changes and corrections affecting the elaboration and modification of the invoice. Paper, printing toner, postage and reprinting constitute a high cost at the end of the year.
Europcar Spain estimates the cost of an invoice is €0.62, which raises to €1 according to the international parent company. These costs grow simultaneously with the business.
MARIAN DE DIEGO
Manager Risk Management at Europcar.
Europcar digitizes the submission of invoices via baVel eBilling. To start issuing invoices electronically, baVel develops a connection with Europcar’s ERP. Afterwards, the clients are onboarded, starting with the most relevant in terms of turnover.
baVel develops the connection with each company and adapts to each of its technica needs. “baVel has adapted to the needs of our clients. It converted our XML standard to what each client was expecting”, explains Marian de Diego, Manager Risk Management at Europcar.
At present, Europcar connects with 40% of its clients via the electronic invoicing
After ten years, Europcar is capable of issuing more than 260,000 invoices annually without the need for manual intervention. baVel’s implementation meant a reduction of 80% of the cost of invoice processing.
When automating this process, invoices are integrated and validated directly into the client’s system, accelerating the payment process. Europcar has reduced 10 days of the average collection period. “Thanks to baVel’s implementation, we can predict a realistic collection time which directly impacts the company’s cash flow”, concludes De Diego.
The company also highlighted the adaptability of baVel and transparency when using the tool.
of invoice cost
40% of clients
period: 10 days