Strawberry transformed their finance operations with Vic.ai’s platform and in collaboration with Propell.ai, reducing invoice processing time by 76%.
Industry: Hospitality/Real Estate (300+ hotel properties)
Annual Invoice #: 600,000
Processing time pre Vic.ai: 10 min
Strawberry, one of the largest hotel groups in the Nordic and Baltic regions, was looking to revolutionize their finance operations to ensure efficiency and quality in their accounting processes. With the help of Propell.ai, one of Vic.ai’s valued solution partners in the Nordics, Vic.ai provides autonomous invoice processing capabilities to all Strawberry's companies in the Nordics as a front-end system for processing incoming invoices integrated into their ERP solution, Oracle Netsuite. With Vic.ai, Strawberry can now reduce cost and eliminate manual tasks when processing invoices.
Vic.ai has an impressive track record in the Nordics, and we are very impressed with the level their AI technology has reached and made the AP process as autonomous as possible. We are confident that the platform can help us continue to reduce cost and manual tasks and free up our team’s time for more value-adding work.
Strawberry, formerly known as Nordic Choice Hotels, is one of the largest hotel groups in the Nordic and Baltic regions. With over 300 hotel properties in Norway, Sweden, Denmark, and Finland, they have an annual revenue of over $1 billion and more than 15,000 workers. The company was founded in 1989 and is headquartered in Stockholm, Sweden. Their mission is to provide travelers with high-quality accommodations and guest services, create positive and memorable experiences for guests, and maintain a strong reputation in the hospitality industry.
To maintain their leading position in the Scandinavian hotel industry, Strawberry aimed to modernize their finance operations to enhance efficiency and quality in accounting processes. Their primary objective was to reduce costs and automate invoice processing while managing multiple hotel brands within their portfolio, which presented challenges in coding invoices and allocating costs. Additionally, the fluctuations in demand and supply costs throughout the year posed difficulties in accurately forecasting revenue and managing expenses, leading to underutilization of their team during slower months with decreased invoice volume.
With the help of Propell.ai, one of Vic.ai’s valued solution partners in the Nordics, Vic.ai provides autonomous invoice processing capabilities to all Strawberry's companies in the Nordics as a front-end system for processing incoming invoices integrated into their ERP solution, Oracle Netsuite. The solution allows invoice validation, comparison, and approval by Strawberry's 900 approvers through a mobile app. Strawberry chose Vic.ai due to its AI-driven approach and also served as the pilot customer of the platform’s integration with Netsuite. Vic.ai's Autopilot feature enables full automation and autonomy without the need for template or rule setup, streamlining the AP process. The system's flexibility eliminates the need for constant updates when new invoice formats or vendors are added. The AI also works 24/7 and can handle influxes of invoices without relying on a big team of full-time employees throughout the year.
- 1.21 min in average invoice processing time
- 96% total accuracy
- 1 day 5 hrs average approval time