TVH Parts: digitization of the P2P processes

The optimization of business processes is a prerequisite for smooth growth in companies with the scale of TVH Parts and its 19.000 orders a day. TriFinance project consultant Maarten Geerts, together with TVH’s IT department & the finance department, set up and helped to roll out the digitization & simplification of Purchase to Pay (P2P) processes.


About TVH Group

TVH Group is an international group with 2 business units: TVH Parts Holding and mateco Holding. TVH Parts is the global supplier of parts for material handling, industrial and agricultural equipment. mateco comprises various activities, including the sales and rental of lift trucks and mobile elevating work platforms. In 2018, TVH Group had a consolidated turnover of 1.680 billion euros.

Why TriFinance?

The optimization of business processes is a prerequisite for smooth growth in companies with the scale of TVH Parts and its 19.000 orders a day. The Purchase to Pay (P2P) processes needed to be digitized and simplified within the IT department, in close collaboration with the Finance department.

The challenge

Digitizing Purchase to Pay (P2P) processes requires a specific skill set, and an extensive knowledge of bookkeeping, process optimization, and software packages. ‘There are a lot of tools on the market’, project consultant Maarten Geerts points out. ‘And there are a lot of factors to take into account. An additional challenge when introducing new processes is to educate and ease employees into implementing the changes in P2P processes.’

The result

Because of Maarten’s experience with the digitization of expense notes (at Coca-Cola Company), the use of OCR software (at Cargill), and his analytical skills, he was perfectly suited to get the job done.
Maarten’s flowcharts of the AS-IS situation revealed the specific difficulties and needs of the project, and the teams drafted a three-wave plan to actualize a sustainable solution.


● Wave 1: digitization and OCR (Optical Character Recognition) of purchase invoices.
● Wave 2: three-way matching and routing for the approval of non-PO invoices (Purchase Order invoices)
● Wave 3: three-way matching of PO invoices


Maarten, the designated teams, and an external IT-partner effectively put in use a selection of OCR tools for the TVH expense notes and purchase invoices. In one year, the teams managed to conclude wave 1, and the preparations for waves 2 and 3 had been made. ‘To me, the most valuable accomplishment was to have introduced a set of durable solutions, rather than a quick fix or an analysis of the challenges’, Maarten concludes.

‘It was a very challenging project, and it’s due to Maarten’s enduring engagement that we have realized the project within the time frame’, Alexander Severyns, director project management at TVH Parts.


For more info, please contact Maarten Geerts (maarten.geerts@trifinance.be or +32 9 210 82 70)

Publicatiedatum: 4 november 2019
‘It was a very challenging project, and it’s due to Maarten’s enduring engagement that we have realized the project within the time frame’, Alexander Severyns, director project management at TVH Parts.