SARMEDElectronic Invoicing with immediate benefits in the Logistics sector Retail@Link

SARMED, is a pioneer provider of competitive Third Party Logistics services in the Greek market. The first privately owned company that started managing Customs warehouses approximately 25 years ago and is one of the leaders in the field of 3rd Party Logistics (3PL), offering state-of the -art bulk and cold cargo services.

The Vision of SARMED is to be the first choice in terms of Logistics solutions offered in the Greek market. For the realization of this vision, the company aims at the provision of reliable & quality services and invests continuously on the enhancement of its technological superiority. Within the context of SARMED’s strategy, the company chose the advanced solutions of Retail@Link (member of the Entersoft group) for the reliable, quickest and most effective transition from the paper to the electronic invoice.

SARMED is the first company of this sector that implemented solutions of Electronic Invoicing & Archiving. The targets that were set through the cooperation with Retail@Link were:

  • The decrease of the invoicing & archiving expenses and the enhancement of the company’s competitiveness through the «deletion» of the unnecessary cost in the company procedures.
  • The profitable & more efficient use of the tax mechanisms, that became mandatory in the Logistics sector for 2013, στα in the context of the new Hellenic tax code for financial transaction mapping, transaction tax reporting code, transactions’ tax reporting code.
  • The security & legitimacy of the transactions of the company with its business partners, with the ability to abide by more easily, cheaper, quicker, and more efficiently through the new electronic procedure, the prerequisites of legitimacy based on the new Hellenic tax code for financial transaction mapping, transaction tax reporting code, transactions’ tax reporting code (authenticity, readability of documents)
  • The enhancement of the organization & speed of service of the financial department, as a result of the reduction of the administration time for the delivery, archiving & search of documents.
  • The decrease of environmental footprint of the company, as a result of the reduced use of paper, plastic & consumables, as well as the emissions during the delivery procedure of the paper documents.

SARMED chose the solution R@L e-Invoicing BizDoc Enterprise Edition by Retail@Link, for the gradual transition of the paper procedure for the total of its invoices. Taking advantage of the benefits of outsourcing, SARMED cooperates with Retail@Link, the pioneer partner of Software as a Service solutions with specialized solutions of Electronic Invoicing & Supply Chain Management.

The two companies started their cooperation on November 2013, with a target to dematerialize 65% of SARMED’s invoices within the 1st year of use of this solution. The solution that SARMED implemented, offers a series of advantages such as:

  • Comprehensive solution on Local Archiving of Documents, that helps to control & organize centrally all the facilities (point of issuance & handling of documents) of SARMED in Athens, Thessaloniki & Voiotia.
  • Absolute compatibility with every information system (ERP), without the need of extra investment in OPEX or CAPEX.
  • Ability to forecast the results of using this solution in various levels, depending on every dematerialization stage completed by SARMED.
  • Security & Legitimacy thanks to the experience, knowledge and expertise of Retail@Link on the interconnection of business partners.

Important possibilities of the extendability of this solution in terms of Dispatch Notes, the delivery of data EDI or the use of electronic signage through the Digital Signature that ensures the maximization of benefits in due course.

The implementation of the R@L e-Invoicing BizDoc Enterprise Edition, was successfully completed in less than 1 month, offering the possibility of immediate benefit to SARMED. More specifically, within the first 3 months of the use of this solution, the results were the following:

Quantitative:

  • Immediate cost decrease from 2,5 € to 0,63 €/document.
  • Successful dematerialization of 40% of the total amount of invoices of SARMED. Therefore, the company managed to cover more than 60% of the yearly target of the replacement of the paper documents with electronic ones within the first 3 months of the implementation of the solution.
  • Total benefit that is calculated as 50% of the initial cost of invoicing, archiving for the 1st year of use, and 74,5% for every additional year of use.
  • Return on Investment (R.O.I) in less than 3,5 months.

Qualitative:

  • Decrease of the administration time for the archiving and search of documents, through the easy to use application of Retail@Link, with the possibility of the immediate response for document retrieval (ie: tax controls).
  • Enhancement of the security of the procedures of archiving & invoice delivery, since the digital documents are not prone to damage/or loss, which is unavoidable in the case for the corresponding paper documents.

To sum up, SARMED managed through the optimum use of technological tools to take advantage of the –unfavorable for the sector, mandatory use of tax mechanisms to benefit of the company and the environment, being a pioneer in the sector by implementing solutions that offer  measurable results of resource savings and optimization of the company operations.