ESPOO, Finland, June 18, 2002 (PRIMEZONE) -- The Rautaruukki group starts to use a digital invoice exchanging system, Invoice Center, provided by TietoEnator. TietoEnator's Economa Invoice Center includes services for scanning, forwarding, converting and printing invoices, as well as a template, presentation service and storage for net invoices. The service will speed up the circulation of invoices and decrease the processing time.
Rautaruukki starts to use the Invoice Center in the parent company and at its largest sites. The system will be refined together with a group of selected customers and suppliers before extending its use in the group.
The digitalisation of invoice processing is estimated to improve customer service and intensify cooperation between organisations. "The implementation of the Invoice Center Service means a rationalisation of business processes, the benefits of which will be measured by all the parties involved - including Rautaruukki as well as our customers and suppliers," said Mauri Isokaanta, Rautaruukki's Vice President of Information Management.
Rautaruukki has centralised a large part of its information systems development, maintenance and administration to TietoEnator.
The invoice center forms part of TietoEnator's total service package for digital financial management. It covers the generation of invoices, their electronic circulation and approval, payment, accounting and electronic archiving. Demand for digital financial management services is growing in Finland as the Accounting Act of 1997 permits electronic accounting for everything except the balance sheet ledger. Digital financial management services are expected to generate annual savings of billion euro in Finland.
Financial management is one of a company's four key corporate resources alongside its personnel, customer relations and information management. Efficient management of key resources will become an increasingly important strategic issue and a key area of management in the years ahead.
Further information:
TietoEnator Resource Management, General Manager Urpo Roti, tel +358 9 3290 7282, urpo.roti@tietoenator.com Rautaruukki, Vice President Mauri Isokaanta, tel +358 8 849 4110, mauri.isokaanta@rautaruukki.com
With almost 12,000 employees and annual net sales of EUR 1.1 billion, TietoEnator is a leading supplier of high value-added IT services in Europe. TietoEnator specialises in consulting, building and hosting its customers' business operations in the digital economy. The Group's services are based on a combination of deep industry-specific expertise and latest information technology. www.tietoenator.com
Rautaruukki is a Finnish listed company manufacturing value-added steel products provided with tailored services to its customers. Rautaruukki has production units in 16 European countries, but it's core market area is the Nordic countries and the Baltic Rim area. Rautaruukki wishes to profile itself as a steel company, which produces highly upgraded speciality products and outperforms its competitors in providing customer service. www.rautaruukki.com
TIETOENATOR CORPORATION
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