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Magnolia Bostad is a Swedish company active in the Real Estate industry. Their vision is to be a community developer building housing for the future. They build tenancy apartments, community properties and hotels. They are represented in most growing Swedish towns and cities – from Ystad in the south to Luleå in the north.
Since 2015 Magnolia Bostad has been using Rillion for managing their vendor invoices. Before implementing Rillion’s AP platform they managed the annual volume of 1,000-2,000 supplier invoices manually, but it was very tedious and time consuming.
Liliana Ivanoff, Accounts Payable Manager at Magnolia, joined the company shortly after the decision to start using Rillion was made. She helped with the system implementation and has been the system administrator of Rillion for Magnolia.
Liliana says that before Rillon she spent a couple of months processing vendor invoices manually. She comments:
“Manual processing of supplier invoices is not only time consuming, there’s also a very high risk of manual errors or invoices disappearing along the process.”
Liliana did have previous experience with another AP Automation solution and initially she would have preferred to continue working in that system. But after using Rillion she comments:
Construction- and Real Estate
3L /Vitec Ekonomi
Process automated with Rillion
Another important aspect to consider when choosing an AP Automation solution is there are many users in the organization who will use the platform. It’s important the system is user friendly, intuitive and easy to understand. Liliana says:
“I believe Rillion is an easy to learn system, and that is true for both an administrator and the approvers. The feedback I get from the organization is that it’s easy to work in the system and that it has a user-friendly interface.”
In the Real Estate business a large portion of incoming invoices are related to a specific project. This is the case for Magnolia Bostad. Approximately 80% of their incoming invoices are related to a project, which is why Rillion’s AP solution suites them very well. Rillion offers many built in features required by Real Estate businesses. For example, specific functionality that supports project invoice management, but also functionality that facilitates management of industry specific complex VAT rules and reverse tax liability.
Magnolia Bostad is a growing company and their annual vendor invoice volume has increased to 9,000+ invoices.
“Now our focus is to become even more efficient and use all the automation features that are available in the solution. The new integrated AI-engine looks promising and we will take a look and test it”, concludes Liliana Ivanoff.