Bidvest SACD, a leader in supply chain management, has achieved company-wide digital transformation, automating 70% of its internal processes with K2.
At the 2020 FastFWD Worldwide Virtual Event, Freddie Mayer, IT Executive at Bidvest SACD, provided insight into the challenges the company was facing before K2, how its K2-based solutions are driving business outcomes, and the new innovations the company is planning for the future.
A “magnitude of paper” leads to challenges
When filing cabinets are overflowing with paper forms and documents, it’s not easy to maintain transparency around business data. Add to that a multitude of Excel spreadsheets with little-to-no process control, and you’ll get an idea of what Bidvest SACD was dealing with before implementing K2.
According to IT Executive Freddie Mayer, “There was a magnitude of paper—paper everywhere. We couldn’t find archived documents and it was just a pretty big mess.”
Attempting to locate data among paper documents and various spreadsheets was time-consuming, and ultimately quite costly. The company could not track key data such as purchasing patterns, and as a result, around £7 million worth of stock was locked up in the business without anyone overseeing it.
A journey towards end-to-end digital transformation
Five years ago, Bidvest headquarters relocated and needed a way to get expense claims approved in a completely different region. When a prototype solution went poorly, Mayer became personally involved and implemented a solution using the K2 intelligent process automation platform.
“It made such an impression on [the business],” Mayer says, “that we decided this is the way we wanted to improve processes within our company on a full-time basis.”
Bidvest SACD set out with the goal of improving operational and administrative efficiency across the organization, increasing visibility, and reducing costs with standardized paperless processes.
K2 enables astounding business outcomes
“I think out of the box,” Mayer says, “K2 delivers all the functionality that you need to build simple to complex solutions.” With 130 automated solutions developed to date and 560 new K2 workflows initiated each day, Bidvest SACD demonstrates that end-to-end digital transformation is achievable with K2.
After automating 70% of its internal processes, Bidvest SACD has seen the following business outcomes”
- A centralized, paperless system with standardized processes for improved transparency and auditability
- Substantial cost reduction thanks to a reduction in stock and increased visibility into purchasing patterns
- Ease-of-use for business users and developers
- An improvement in corporate governance through effective compliance.
- Simple integrations to improve administrative processes
“I often say that I’m yet to find a problem in my organization that I couldn’t solve by building a K2 solution,” says Mayer. “If you can think it, you can build it.”