How FINN speeds up its document processing times by 71%
time saved per document
seconds avg. validation time per document
FINN is a German car subscription company that’s revolutionizing conventional car ownership in Europe and the United States. With a mission to make mobility fun and sustainable, the company offers instant, flexible, and convenient monthly car subscriptions.
As FINN expanded into new markets and its fleet grew, the accounting team realized they needed a more scalable solution for processing supplier invoices. The main challenge stemmed from the integration of nearly 200 service providers for handling damages and repairs over the entire lifecycle of a car.
In addition to its growing fleet, the variety of invoice layouts and formats the team received demonstrated that the regex-based OCR implementation they previously had wasn’t sufficient. FINN was faced with two options: hire an external agency that handles the whole process or build its own automated process.
FINN is driven by the “automate everything” mindset in order to build truly scalable processes, so the decision was clear. The team looked for an external service provider that already had the technology in place and offered support, which led them to Rossum.
A simple and intuitive UI was crucial for easy adoption and to ensure less time was spent in the validation dashboard. Rossum’s pre-built solutions allowed the team to integrate easily into other no-code platforms, such as Make, and to support a multistage document processing workflow at FINN as a result.
The process starts when a document PDF, which is the most common invoice format in Germany, arrives in a shared inbox and is automatically checked to be approved for processing based on the format and attachment.
From there, Rossum ingests the documents, performs the data capture, and triggers the webhooks that plug the extracted data into FINN’s database and a variety of other expense and procurement endpoints in the FINN’s internal ecosystem, like Spendesk and SAP ERP.
Supplier to cost center was also mapped in the solution, which allowed for automatic data matching. Rossum also enabled the team at FINN to add custom buttons in the user interface at the implementation stage, allowing business users to customize their workspace and add necessary cost centers directly in the front end.
With our intelligent document processing platform, FINN is able to quickly and accurately process the wide variety of documents that are generated throughout the entire lifecycle of a car. FINN accredits Rossum’s superior OCR technology, user-friendly UI, easy integration, and responsive support for resolving its invoice bottlenecks.
Thanks to the ease of use with a point-and-click UI, FINN saw a tremendous efficiency increase after implementing Rossum. The accounting team reduced the overall time spent on invoices per day from two hours to 15 minutes.
FINN significantly reduced error rates and reached over 90% accuracy within the first six weeks of using Rossum, with the initial MVP setup in no-code only taking two days to complete. This dramatic improvement also meant that FINN didn’t need to hire more people due to capacity requirements.
Along with time and cost savings, employee satisfaction increased due to the ease of labeling via the dashboard. Between our scalable solution and dedicated support, the team at FINN believes that Rossum is the right partner to help them build the most popular car subscription platform.
In the next three years, FINN forecasts scaling up the subscription volumes sevenfold in addition to expanding Rossum onto other use cases. Rossum’s flexible setup is crucial to support FINN’s business expansion in a consistent manner.
“At FINN, we believe in the ‘automate everything’ mindset in order to build processes that are truly scalable. Rossum helps us to overcome the challenge of processing a vast diversity of documents which are generated throughout the entire lifecycle of a car with their superior OCR technology, a user-friendly UI, easy integration into our no-code landscape and very responsive support. We believe that Rossum is the right partner for us to help us building the most popular car subscription platform.”Fabian Brossok, Product Manager, Finance products