Streamlining Business Processes with IoT: A Case Study of Tipsport and K2 Software

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Tipsport, the largest betting agency in the Czech Republic, was facing multiple challenges in its quest to maintain its leadership position in the industry. The company was in dire need of a tool to support intelligent process automation to enhance operational efficiency and business growth. One of the key challenges was the time-consuming invoice management process. This process, which was crucial to the company's financial operations, took several days or even weeks to complete and offered little visibility into its status. Another challenge was the need for a platform that could easily integrate with line-of-business (LOB) systems. The company was already using Microsoft SharePoint Online for data sharing, but the SharePoint workflow development tools were not providing all the functionality needed to create integrated workflows and were too inflexible to accommodate process changes. Furthermore, due to government oversight and shifting internal priorities, the platform needed to be adaptable to business changes at any time.

Tipsport is the largest betting agency in the Czech Republic, with over 1,000 branches throughout the country. Founded in 1991, the organization enables people in the Czech Republic and Slovakia to place bets on a wide range of sporting and social events. The company is constantly seeking ways to improve operational efficiency and maintain its leadership position in the gambling industry. To this end, it evaluated products from multiple vendors and selected Nintex K2 Five for intelligent process automation. The company has now automated a number of business processes with K2 Five, cementing its role as a leader in the gambling industry.

To address these challenges, Tipsport leveraged K2 Software in conjunction with Microsoft SharePoint to develop sophisticated end-to-end business processes. The company automated its entire invoice management process, from receipt of invoice to notifications of payment. This process, which is typically used by 100-150 employees every month, was streamlined to take just a few minutes. Managers were given alerts when invoices needed approval and could sanction payments from their desktops or mobile phones. This provided greater oversight into the financial process, allowing them to track the history of all invoices, approvals, and payments. Over a period of two years, Tipsport used K2 Five to solve several business challenges. The platform integrated with existing LOB systems, making it easy to adapt to business change. For instance, the company developed a simple app to help it comply with General Data Protection Regulation (GDPR). This app allowed the company’s security office to define up to three people who must approve a document before publishing, thereby controlling access to sensitive data.

• The implementation of K2 Software has brought about significant operational improvements for Tipsport. The automation of the invoice management process has not only expedited the process but also provided greater visibility into the status of this crucial financial process. Managers now have the ability to track the history of all invoices, approvals, and payments, ensuring that invoices are not overlooked or handled incorrectly. This has instilled greater confidence in the invoicing process among employees, who now know that the invoices they are responsible for will be paid on time. Furthermore, the platform's ability to integrate with existing LOB systems and adapt quickly to business changes has enabled Tipsport to meet the requirements of its small team and comply with GDPR regulations. The company has developed its K2 Five processes in-house, guided by its documentation and customer support team, leading to high levels of satisfaction with the support received.

• Improved visibility into invoice management
• Faster invoice and approval processes
• Supports GDPR compliance