Systra AB reached break-even on e-invoice investment in just 10 months

Systra AB is a leader in innovative solutions for sustainable travel and operates throughout the chain, from feasibility study and construction to operation and maintenance. Systra has a turnover of approximately SEK 350 million and has 700 employees in 21 offices in Sweden. Internationally, Systra is one of the world's leading players in infrastructure solutions for high-speed rail, metro, subway, and tramway, with a presence in over 80 countries.

Until spring 2022, invoice processing at Systra was characterised by a lot of manual work, with two full-time employees in accounts payable manually processing a large number of paper and PDF invoices. Only 15 percent of the company's total number of invoices were e-invoices, and the few that were processed electronically were mainly due to legal requirements from public sector customers. However, due to international regulatory requirements, the finance department received an internal request to receive e-invoices for purchases in the same year.

To fulfill the desire to receive e-invoices, Systra implemented Pagero's e-invoice solution at the end of 2022. The solution chosen also included PDF invoices, which are automatically sent to Pagero, which converts them into e-invoices and sends them back to Systra. In Systra's growth phase, it was an easy decision to add this conversion service, which allows PDF invoices to be handled digitally until all invoices become true e-invoices.

By August 2023, the investment had already paid for itself: "Our investment paid for itself after just ten months, which clearly shows the rapid and positive effect of handling invoices electronically and automatically," says Madelene Borelid, CFO at Systra. 

Previously, two full-time employees had to spend all their time administering invoices. Today, invoice processing requires only 70 percent of a full-time position, which means a 65 percent reduction in working hours in just one year. Previously, about 5-10 minutes were spent per invoice due to manual registration. Freed-up time is now used for essential and value-adding tasks such as control and cash flow analysis. 

In addition, the workload has been evened out over the weeks. Prominent peaks at the end of the month have been eliminated, creating a smoother and more enjoyable work process. A further benefit is that training those who will perform the remaining manual work is much faster, and it now only takes about an hour to get them up to speed.

In addition to reducing the manual registration of invoices, e-invoices have also improved Systra's financial management. "We went from 15 to 90 percent e-invoices in a few years," continues Madelene Borelid. "The 30-day cash flow analysis is now much more reliable, the liquidity forecasts are more accurate, and we have better control over costs and fewer payment reminders from suppliers, which gives us stronger financial control and planning," concludes Madelene Borelid.

Pagero's e-invoicing service has not only streamlined Systra's work processes but also strengthened the company's financial stability and future planning. Pagero's solution has proven to be a valuable investment for Systra. Can your company improve its invoice management and financial control similarly? Contact us, and we will help you!