Although e-invoicing is required across the board in a growing number of countries within the European Union, this is not yet the case in the Netherlands. Nevertheless, it is worthwhile for organisations – in anticipation of it becoming obligatory in the future – to think carefully about the opportunities that e-invoicing can offer today. At Newomij, a business case was established in the collaboration with INNAX.
Since 2021, Newomij has been working with the metering company INNAX, an organisation that specialises in energy management and providing insight into metering data. In this context, what INNAX is engaged in covers the processing of energy invoices sent by energy suppliers and regional grid operators, including their verification. At Newomij, this involves many thousands of invoices each year.
For verification purposes, INNAX has a database in which the characteristics of each connection are saved. This also contains the contractual agreements of each connection, on the basis of which it checks the content of the invoices for such factors as rates, taxes and consumption. After verification, INNAX delivers the invoices to a secure environment, following which they are automatically imported via Yardi’s e-invoicing solution and available for further processing in the Yardi Procure to Pay environment. Next, these invoices go through a set workflow and can be easily approved for payment.
Yardi’s e-invoicing solution achieves extensive automation of the processing of outgoing and incoming invoices. By simplifying the processing, the correct information is available more quickly and at the same time the risk of errors is significantly reduced. “Our e-invoicing solution is part of the broad set of solutions that Yardi makes available to clients with operations within Europe to help them comply with laws and regulations,” says Ralf de Graaf, Senior Manager Global Solutions at Yardi. “The e-invoicing solution is now used by dozens of clients in multiple countries within Europe and it helps them to scale up quickly and flexibly, not only in terms of functional application possibilities, as demonstrated by Newomij as an innovative real estate owner, but also geographically, such as with the international expansion of real estate portfolios.”
“When INNAX started processing the energy invoices for us, we immediately experienced a notable reduction in scanning and booking work in the accounts department. Previously, many of these energy bills came in by regular mail. So not only did we have to book them, but also scan them ourselves,” according to Bart Blankevoort, Information Manager at Newomij. “In addition, there are now clear gains in data quality due to the improved consistency in the booking of these invoices by eliminating the need to manually process them on a monthly basis. As a result, we also have fewer corrections during the creation of, for example, a settlement. However, we make the biggest time savings because INNAX automatically checks the invoices (meter readings, prices, etc.) and Yardi automatically imports these invoices and links them to the purchasing system, giving Newomij access to all the necessary data. We are happy that we were able to eliminate so many manual actions with INNAX and Yardi. We now have other areas in our sights where we can achieve similar efficiency.”
NEWOMIJ
Newomij is one of the largest private real estate companies in the Netherlands. From a very strong, independent financial base, we focus on enabling beautiful Dutch real estate. We do this with a team of 85 professionals. We build and manage our own real estate portfolio. We also offer management for owners’ associations and finance real estate for investors.
As a family business, Newomij focuses on long-term returns and sustained relationships with all of our clients. This calls for entrepreneurship, customer-drivenness and focus (our core values) and for real, sincere attention to that which has value in real estate. Or, in other words, commitment in real estate.