tangro IM at Magura: Digital in invoice processing

tangro IM at Magura
tangro IM at MAGENWIRTH Technologies GmbH

Saviour in pandemic times

The companies Gustav Magenwirth GmbH & Co. KG (MAGURA) and Magura Bosch Parts & Services (MBPS), both companies of the MAGENWIRTH Technologies Group, have digitalised their invoice processing processes in SAP and thus achieved greater efficiency in financial accounting. The automation solution from tangro is used for this. The software automatically recognises incoming invoices and transfers relevant content directly into SAP. If everything is correct, it can be posted immediately. If there is a need for clarification, the documents go into an electronic workflow, which is also automated.

The two German-speaking companies that use SAP receive about 20,000 incoming documents a year. Before automation, these documents were received by post and processed manually in time-consuming individual steps: Sticking on the barcode, bagging the invoice if clarification was needed and sending it for circulation, typing out the contents after approval and separating all the papers for archiving, scanning them and finally disposing of them in a document-friendly manner. An enormous amount of work, which is now completely unnecessary. Rolf Pascher, Head of Financial Accounting at Magura:

"With tangro, the process is now almost completely digital. Of the previous eight steps in invoice processing, five have been eliminated or greatly simplified with tangro."

The automation has also been so successful because Magura has also rethought and optimised its internal processes. For example, there are now two central email addresses to which the suppliers send their invoices in PDF format. With very few exceptions, invoices are already available as electronic documents, the contents of which can be accessed directly by tangro. The software automatically recognises all important invoice contents such as supplier, quantity and price and fills the corresponding fields in the pre-entry document.

In case of necessary approvals or questions, the tangro workflow handles the clarification process electronically. The request is automatically sent to the right contact person, including the electronic invoice image. The responsible employee can then check the document immediately and approve it with a simple click of the mouse. Automatic reminder functions ensure that no one forgets to process the invoice. Once the document has been approved, it can be posted in SAP directly. Thanks to digitalisation, this can now be done from any location - even in the home office. A huge advantage, especially in times of a pandemic. Rolf Pascher:

"tangro saved us. We wouldn't have known how to cope with the Corona period without tangro. There was a lot of praise from the accounting staff because they can now work from home."

Automation has significantly advanced invoice processing at Magura:

"We are now much faster in entering invoices. The throughput has accelerated by 20-30 per cent."

For certain suppliers, a fully automated booking has already been set up depending on the order type and order value, so that invoices can be booked immediately without any time delay.

  • Industry
    Accessories, service and component development for all types of two-wheelers
  • Headquarter
    Bad Urach (DE)
  • Subject
    Incoming Invoices
  • Volume of documents
    20,000 Invoices/Year
Digital in finance accounting with tangro.
Benefits

Invoice processing almost completely digital

Accounting can work in a home office

Accelleration of invoice processing by 20-30%

Real-time access to SAP master- and transaction data

Low costs for consultancy, licences and maintenance

Overview of all processes in finance accounting

Full automation needs invoices referencing a purchase order. In cases where it is not possible to work with purchase requisitions, the process could be accelerated considerably by tangro. Rolf Pascher:

"With the electronic workflow in tangro, we also shoot through invoices without a purchase order reference in a super way."

The account allocation can be done in tangro because the G/L account and cost centre are already predefined as standard for the corresponding supplier. Currency and tax code are also default values and do not have to be entered each time. And if necessary, it can be verified immediately at any time whether everything is correct:

"That is the beauty of tangro: you can jump to the SAP standard in real time and access the master and transaction data."

This direct access is possible because tangro is embedded in SAP. A feature of the software that played a decisive role in the selection process. Also important was the mature functionality of tangro, which offered exactly what was envisaged for the automation of the financial accounting processes. Another plus point was the mobile workflow and thus the possibility to integrate employees who do not work with SAP into release processes.

And last but not least, the favourable costs for consultants, licences and maintenance tipped the scales. Rolf Pascher:

"tangro was the company that estimated the fewest consultant days in its offer. And that was also the case. After the project was completed, we even got another half a consultant day."

There is also confirmation from the IT side: "The implementation was really uncomplicated," says Marinela Lopes, the project manager. Rolf Pascher is more than satisfied with his decision for tangro.

"I could no longer imagine working without tangro."

An important benefit for the head of accounting is the always up-to-date overview of all received invoices.

"With tangro, I can monitor the processes in financial accounting much better. We used to have an elaborate control system here. Now I can see at a glance which invoices have been received and need to be processed."

Another important point for Rolf Pascher is that with tangro they are prepared for future challenges. This is already evident now, where the volume of invoices has risen sharply due to expansions. The existing team in the accounting department can handle this extra work well with tangro. In the future, tangro can also provide support in the area of EDI. And finally, tangro offers security when it comes to S/4HANA.

"We know that nothing will change in booking via tangro when we switch to S/4HANA. The migration will probably be trouble-free."

tangro saved us. We wouldn't have known how to cope with the Corona period without tangro.
Rolf Pascher Head of Finance Accounting at Magura

About the customer

About Gustav Magenwirth GmbH & Co. KG:

For more than 125 years, MAGURA has stood for technical innovations with the highest level of safety and exemplary quality with its expertise in hydraulics and mechanics as well as plastics technology know-how. Every day, around 550 employees in Europe, Asia and the USA develop, produce and market high-tech components for all types of two-wheeled vehicles - bicycles, mountain bikes, eBikes and motorbikes - which guarantee enormous durability, the highest safety standards and a great deal of riding pleasure.

About Magura Bosch Parts & Services:

In addition to development and production, MAGURA distributes the high-tech components of the premium brands MAGURA and Bosch eBike, as well as other branded products from the bicycle and motorbike industry, in its joint venture with Bosch eBike Systems as a Europe-wide trade, logistics and service organisation. In addition, the joint venture with its more than 120 employees at four locations in the EU offers complete service for the products of the two parent companies MAGURA and Bosch eBike Systems. With its Europe-wide distribution network and market access to almost 30,000 specialist bicycle dealers together with broadly positioned sales, marketing and service teams, MAGURA Bosch Parts & Services ensures a professional brand presence and distribution via the European specialist bicycle trade of the products.

About the MAGENWIRTH Technologies Group GmbH

The holding company MAGENWIRTH Technologies GmbH is the connecting element in the group. It is the networker between technologies, partners and idea providers. The holding supports the companies in their development. The management initiates dynamic and innovative cross-development processes, connects technologies and makes synergies usable.

Contact
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