"even the Best Systems need a little help sometimes"
No matter how encompassing; ERP, Accounting and other core Business Systems, such as SAP, Oracle and other Business Intelligence, they still need a little help in the periphery. As powerful as they are, they just do not cover all the areas a Business may need.
One of our Partners just completed an Invoice handling system for a Large SAP user. [Utilizing just one of our Major Engines, IDM (Intelligent Data Mining).]
Until recently, those invoices were handled manually via the agency's SAP Accounting System, resulting in accounting staff spending a disproportionate amount of time
on manual data entry, filing, tracking down errant invoices and dealing with exceptions—rather than on value-added accounting functions.
Manual invoice processing caused difficulties in managing the budget and controlling cash flow. Invoice processing costs were high, while productivity was low. The risk of penalties for late payments combined with potential deterioration in relations with suppliers and increased compliance risks led the agency to seek a more efficient, reliable and cost-effective invoice processing solution.
- Vendor invoice automation for 90,000 inbound invoices
- Integration with SAP
- High volume of paper and electronic invoices
- Manual Data entry keyed in with high risk of errors
- Large number of invoice exceptions
- Lack of visibility of invoice liability within SAP
- Integration with SAP resulting in end-to-end automation that reduces payment cycle times
- Achieved a 75% improvement in employee productivity
- Greatly Reduced errors and exceptions due to automated data entry
- Simplified approval and verification for managers (including electronic signature and routing)
- 100% liability tracking and process transparency
- Capitalized on early payment discounts
- Reduced late payment fees
- Ensured regulatory compliance
We've not only accomplished this with Accounting Documents, but also, Financial, Legal, HR, Import/Export/FTZ, Freight Bills and Manufacturing Documents, just to name a few.