Veidekke simplifies invoice management with eye-share

Industry: 
Construction

No. of employees: 
6300

Head office: 
Oslo, Norway

About

Veidekke is a leading Scandinavian construction and property development company headquartered in Oslo. Established in 1936, the company has approximately 6,300 employees across Scandinavia. Listed on the Oslo Stock Exchange since 1986, Veidekke reported a turnover of NOK 21 billion in 2013.

Solution

Veidekke implemented eye-share Workflow and eye-share Capture with the following modules: Invoice, General Ledger, Archive, Report, Reminder and Travel. 

A win-win collaboration with Eye-share

The major Scandinavian construction and real estate developer Veidekke chose eye-share Workflow for several compelling reasons, chief among them Eye-share's willingness to adapt and standardize functionalities to meet Veidekke's unique requirements.

A solution beyond standard

“Initially, we were looking for a standard product, but none of the alternatives fully met our needs. The standard eye-share Workflow  included many of the functionalities we required, and Eye-share demonstrated remarkable flexibility in developing the product according to our needs,” says Project Manager Terje Solli.

This adaptability made eye-share stand out, leading to a solution tailored to Veidekke’s specific workflow.

Tailored for project-oriented operations

Veidekke’s operations are entirely project-oriented, meaning project numbers are central to ensuring accurate workflows and approvals. Eye-share incorporated these project numbers as a standard feature in their system, along with other crucial functionalities such as routines for handling complaints and a system for managing internal invoices. 

“All these features, among others, are now part of the standard eye-share Workflow Invoice,” Solli explains. He also highlights the long-term cost benefits, noting that future system updates are more affordable when specific functionalities are integrated into the standard product.

Streamlined approval process

Solli describes the improved invoice lifecycle after implementing eye-share.

“All invoices are sent to our office in Mo i Rana in Northern Norway, where they are opened, scanned, and key fields are automatically interpreted—eliminating manual data entry. eye-share then notifies the relevant approvers via email, enabling them to approve directly or make adjustments as needed. Once approved, the accounting department receives the invoices, which are ready for payment by the due date.”

This streamlined process supports over 1,000 eye-share users at Veidekke and processes approximately 250,000 invoices annually.

Cost-effective and timely payments

The transformation brought by eye-share is particularly evident when comparing the old and new invoice handling processes.

“Previously, invoice processing involved significant manual labor, along with extra postage and handling costs. The time from receiving an invoice to it being ready for payment could stretch to weeks,” Solli recalls. “Today, the process rarely takes more than a week, and all invoices are paid on time.”

Seamless implementation and support

Veidekke has been using eye-share Workflow  since November 2012. Solli commends Eye-share for their hands-on support throughout the implementation process.

“They always understood our challenges. With our decentralized organization, many individuals were involved, so we chose a staged implementation approach to ensure everyone received proper training,” Solli says.