Knowit AB: Streamlining accounts payable and optimizing ESG reporting

Knowit AB, a leading player in digital transformation in the Nordics, has chosen the AI-solution SEMINE to streamline its accounts payable processes and optimize ESG reporting. 

With over 4,000 employees and a revenue of approximately 7,000 million SEK, the finance department handles nearly 70,000 supplier invoices annually. Complex processes across Nordic subsidiaries made the need for a future-proof solution urgent.

Complexity behind the scenes

As one of the Nordics' most innovative technology companies, Knowit AB has delivered value to its customers through tailored solutions in IT, digital experiences, and cloud-based business systems. However, behind its success lay challenges within the finance department, where a decentralized structure and lack of a unified purchase order (PO) process created complexity.

With subsidiaries operating under different accounting standards, chart of accounts, languages, and procedures, achieving a consistent and efficient accounts payable workflow was difficult. The lack of a clear and structured PO process added further complications to standardizing operations. The finance team spent significant time on accurate account coding, manual PO matching, and correcting errors, leading to bottlenecks and inefficiencies.

Knowit’s work across sectors such as education, healthcare, and mobility places high demands on its finance team. The company’s vision of delivering sustainable and inclusive solutions made it essential to find a system that could support both localized adaptations and unified workflows, particularly within the purchase-to-pay automation process, says Johan Schmidt, Chief Information Officer at Knowit AB.

Knowit streamlines accounts payable (AP) with AI solution SEMINE

After a thorough evaluation process involving seven vendors, SEMINE emerged as the natural choice for Knowit. The combination of the platform’s native AI technology, standard integration with Unit4, and Semine's proven expertise was pivotal in the decision-making process.

Johan Schmidt, Chief Information Officer, Knowit AB

– A native AI solution like SEMINE provides us with flexibility, scalability, and advanced data processing capabilities. This is critical for managing our complex structure and optimizing our ESG goals, says Schmidt.

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SEMINE also delivers advanced data capture capabilities, extracting data from both invoice headers and individual line items. This provides Knowit with fully classified data that seamlessly integrates with their analytics tools. The result is deeper insights, better control over accounts payable workflows, and more accurate reports that support both daily operations and strategic initiatives, including ESG optimization.

Semine’s Chief Commercial Officer, Daniel Karlsen, has been closely involved in the collaboration with Knowit throughout the process.

Daniel Karlsen, Chief Commercial Officer, Semine.

– We aimed to be a trusted partner for Knowit. Through close dialogue and a detailed review of their needs, we demonstrated how SEMINE can transform their finance function, says Daniel Karlsen, Chief Commercial Officer at Semine

Semine's focus on delivering a solution that meets Knowit’s specific requirements, while also supporting their decentralized model, further reinforced their decision.

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A future-proof solution

With SEMINE, Knowit looks forward to reducing manual work, improving data quality, and standardizing processes across borders. The platform’s functionality and standard integration with Unit4 mean the finance team can now spend less time on repetitive tasks such as invoice scanning and approval and more time on strategic work.

– Semine is a key partner in our journey toward a more efficient and sustainable finance function. The solution provides us with the insights and flexibility we need to address the challenges of tomorrow, concludes Schmidt.

Knowit is now ready to implement SEMINE and begin a new chapter in its digital transformation journey.