Streamlining Invoicing and Approval Processes: A Case Study of LVMH Italia
Technology Category
- Sensors - Flow Meters
- Sensors - Liquid Detection Sensors
Applicable Industries
- Consumer Goods
- Retail
Applicable Functions
- Quality Assurance
- Sales & Marketing
Use Cases
- Retail Store Automation
- Theft Detection
About The Customer
LVMH Italia is a distributor of some of the world’s most recognized designer brands. The company is responsible for marketing and distributing premium brands of perfume and cosmetics throughout Italy, serving 1,500 retailers while adhering to global policies defined by LVMH corporate. The company promotes high-end products to potential customers by paying selected retailers to display in-store promotions and host marketing events. LVMH Italia is part of the global perfume and cosmetics division of the wider LVMH group, and as such, it needs to adhere to policies set at the group level and provide evidence of compliance with international brand guidelines.
The Challenge
LVMH Italia, a distributor of premium brands of perfume and cosmetics throughout Italy, was facing significant challenges with its invoicing and approvals processes for retail vendors. The company, which markets luxury fragrance, skincare, and other cosmetic products from designer brands including Christian Dior, Fendi, Givenchy, and Kenzo, was experiencing delays in processing invoices due to incorrect or missing reference numbers. This led to deferred payments from retailers for LVMH Italia’s products, resulting in cash flow delays, wasted employee time, and potential damage to relationships with retail partners. Additionally, as part of the global LVMH group, LVMH Italia needed to adhere to group-level policies and provide evidence of compliance with international brand guidelines. This required a complex process for approving new retailers and re-approving existing ones every two years, to ensure they met the high standards appropriate for high-end cosmetics and perfumes.
The Solution
LVMH Italia implemented Nintex K2 Five to streamline its invoicing and approvals processes. The software allows the company to enter all information about planned trade marketing activities, which is then sent to the relevant department for authorization. During the promotion period, an employee verifies that the marketing activity has taken place, and a proforma invoice with all the correct references and financial details is generated for the retailer. This enables LVMH Italia to pay retailers promptly, improving cash flow and retailer satisfaction. The company also used Nintex K2 Five to transform its retailer approval process. A fully automated workflow ensures all required steps are taken to approve or re-approve retailers in accordance with group policy. Key documents can be attached to the workflow, centralizing all information relating to retailer approvals.
Operational Impact
Quantitative Benefit
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