Karl Lagerfeld fashion is offered at more than 200 stores worldwide, plus premium wholesale and franchise partners. Using a manual system to handle $100 million in purchase order value and thousands of suppliers was becoming unsustainable for the AP department. They turned to Medius for a solution.
Background on Karl Lagerfeld and their set-up
Benefits of Medius AP Automation
Who is Karl Lagerfeld?
A global, Parisian-inspired fashion brand for women, men and kids, reflecting the iconic vision of founder Karl Lagerfeld.
What was the challenge?
Despite a massive volume of vendors and purchase orders, AP was using a manual system that lacked visibility and proper workflows. It was becoming unsustainable for the 10-member team.
How did we help?
The team spends less time chasing down approvals so invoices are paid faster. Medius helps detect fraud and reduce errors. Plus, the system encourages consistency in processes throughout the company.
“In addition to the standard ERP integration, Medius clearly had the experience, knowledge, and support we needed. With Medius working with us on-site, we were able to establish workflows, testing and PO matching so we needed hardly any involvement from IT personnel.”
Eva Miguel Banos
Finance Director
Karl Lagerfeld is one of the most recognizable fashion labels in the world. Despite the company’s enormous success, the AP department was lacking proper workflows and procedures that could be achieved with automation. Recognizing that manual invoice processing was becoming unsustainable, the company turned to Medius to increase productivity and streamline its processes.
Learn how Medius created numerous efficiencies and exceeded expectations by implementing to the company’s ERP within just 7 weeks.
Explore four financial hurdles facing finance professionals
Download quick facts about fraud, slow payments, siloed teams, and low job satisfaction (AND how to overcome them!) from the Medius Financial Professional Census Report.
Want a holistic view of spend?
Finance teams require data at the point of decision to spot potential risks or duplicate invoices as they occur. Download our CFOs Guide to AP Nirvana to find out how a holistic view of spend can give you answers when you need them.
Automated to autonomous AP
Examine the pressures driving AP departments to adopt automation to mitigate risk and improve efficiency and how the AP automation of today is becoming the autonomous AP of tomorrow. Download IDC report.
