Cavotec grows internationally
Cavotec, an international cleantech company, develops and manufactures automation and electrification solutions for ports and the industrial field.
Field of work: technology industry
Company size: 600 employees
Revenue in 2021: 116 M€
Heeros services: purchase invoice solutions globally, sales invoice solutions regionally
Cavotec’s solutions help their clients reduce harmful emissions and downsize their carbon footprint. The demand for environmentally friendly solutions is high around the world, so naturally Cavotec’s business is on the rise as well. Traveling along the growth journey is Heeros, whose international financial administration services Cavotec utilizes.
116 M€ revenue
99 M€ order backlog
+80 countries with Cavotec’s solutions
66 % growth in revenue
44 % growth in order backlog
Connectability, automation and electrification – with less emissions
Most ships, while staying in ports, continue to produce their needed energy with the ship's own engines, causing enormous amounts of emissions. This applies to other industrial fields as well, since most of the moving arsenal is powered by polluting diesel engines. Cavotec’s mission is to change the situation and enable the ports and industrial facilities to have low or zero emissions with innovative solutions.
Cavotec’s connection solutions electrify ships, cranes and logistic applications used in ports. Their solutions also include other automation and electrification solutions diversely across the industrial fields. Understandably, Cavotec’s business is on the rise, since the pressure to reduce emissions keeps on growing.
An international business needs internationally operating services
Cavotec is truly an international business with around 600 employees and about 18 offices around the world. The global operations require a functional entirety of cooperation and financial administration systems that work seamlessly over different bounds. Heeros’ solutions are a part of this entirety.
– We use Heeros’ purchase invoicing solutions in all of our operating countries. The circulation and approval process of the invoices is entirely digital, as is the documenting of the invoices in our ERP-system. We also use the sales invoice solutions in certain countries, says the ERP Finance Manager of Cavotec Group, Matt Pozsik.
Matt Pozsik credits Heeros’ solution with streamlining the handling process of sales invoices.
– All the invoices we receive are converted into a digital form and documented into our system. Our employees can process and approve their invoices right in the system, no matter the time zone or place. It’s unfathomably easier than for example sending pdf invoices around the world and waiting for a response to them through email.
Cavotec’s and Heeros’ cooperation has been ongoing for over ten years.
– I can’t really say why we ended up choosing Heeros to be our partner in handling purchase invoices since the decision was made by my predecessor. But I can say that through my experience and cooperation with Heeros I would choose them too, Matt Pozsik laughs.
– Mostly because their solutions are extremely easy to use and I’ve seen with my own eyes how it streamlines the rotation and approval of invoices, and their findability in archives, Matt Pozsik continues.
Streamlining saves time and money – and makes allocating resources easier
Handling purchase invoices is a lot of work if not automated and digitized. Matt Pozsik thinks Heeros’ solutions are a perk that save time, trouble, and money.
– In my previous job as the financial director of Cavotec USA I saw concretely how the solutions of Heeros helped us reduce the amount of head-count time allocated to the processing of invoices.
Even though saving time is an important factor, it’s not an intrinsic value for the company.
– Most of all, we are interested in developing our core business. That’s why our goal is not to cut the number of employees but to guide the head-count resources to tasks that advance our business as well as possible. There’s no need to waste our professionals time in processing invoices when that can be done in a more efficient way. It’s better for everybody to be able to focus on more important work.
Another perk of the Heeros’ purchase invoice solution is its scalability with business growth, when new business regions are added or new business units utilized.
Cooperation deepens the partnership
Matt Pozsik says cooperation with Heeros has gone excellently.
– Now, after a year in this position, I can safely say they are very easy to work with. They listen to my hopes and needs and react swiftly to my inquiries. The time difference between USA and Finland can of course cause a bit of a delay but I’ve always received an answer on the next work day, at the latest. Of course, if there’s anything I could wish for it would be a 24/7 support service, but I understand that’s too much to ask, Matt Pozsik grins.
One of the requirements of a successful partnership has been close interaction and conversation.
– Lately we’ve been having a lot of meetings where we have gone through how to simplify our processes on both sides and how to strengthen the processing of purchase invoices even more. We’ve stated together that we should keep the discussion going in the future as well, so we’ll be organizing regular meetings every quarter. This way we can reflect on things more both on strategic and operational levels, to see where we are at.
One of the future conversation topics and development targets is utilizing Heeros’ sales invoice solutions more comprehensively.
– We are already using the sales invoice solutions in some countries. The experiences have been good so now we are investigating the possibilities of utilizing it on a larger scale, Matt Pozsik says.
Things were different before, but everything is better now
– In summary, I’ve seen through my long career at Cavotec how things were before Heeros and how they are now, after utilizing their services. I must say everything is so much more simple, smoother and easier, Matt Pozsik sums up.
Read more about Cavotec’s services from www.cavotec.com.