Receipt Processing Automation - A Case Study

The choice to robotize Accounts Payable
Their Accounts Payable (AP) division comprised of 13 individuals handling in the locale of 180,000 solicitations each year from providers across Europe. Solicitations should be supported by 250 people from 3 workplaces in the UK, 11 stations and 2 assembling plants, notwithstanding clients in central area Europe.

Managing this volume in a manual activity was leading to a few issues. Receipt handling was very paper serious; a lot of time and exertion was spent information contributing, pursuing paper solicitations and documenting. It was frequently hard to find solicitations and the AP group would sit around reaching the business clients to follow solicitations. This brought about an absence of effectiveness and an absence of command over the interaction. There had likewise been an issue of making various copy installments.

The choice was made to computerize the receipt handling; to smooth out the office and eventually to be benchmarked as a model AP process. The inquiry started to find an answer that could address their issues: incorporate firmly with their ERP arrangement, be adequately adaptable to reflect their cycles and be simple for the AP group to utilize. "We decided to go with our last provider since we felt they carved out opportunity to truly research our interaction, work with us to plan the most productive framework and had the option to demonstrate the consistent mix with our ERP framework and had an exceptionally powerful work process arrangement."

How the AP division has been mechanized
Paper solicitations entering the AP division are currently checked into the IMS (Invoice Management Solution) framework. Utilizing Automated Data Capture advancements, the header data, for example, receipt complete, provider name, and so on, is consequently perused from the receipt. The reconciliation among IMS and the ERP then empowers this information to be populated straightforwardly to enlist the receipt in the monetary framework, with negligible manual information section required. In the event that IMS doesn't perceive the merchant, work process consequently sends this as a question to the business client, who can then choose whether this is another seller to be set up in the ERP or is only an oddball merchant. The combination among IMS and the ERP triggers the making of the proper merchant. This guarantees that postponements are not made with obscure merchants and paces up the most common way of adding new sellers to the money framework.

Programmed pre coordinating: Invoices that are related with a Purchase Order (PO) are currently matched in the ERP inside a resilience. Any solicitations that neglect to effectively match the PO are consequently directed to the procurer utilizing work process, for goal utilizing IMS.

Non-PO related solicitations should be coded and supported by the first procurer. Beforehand this was an altogether manual interaction, with each receipt being posted through the inside mail from AP to the person who codes the receipt, then got back to AP, then conveyed to the procurer of the merchandise to approve This cycle was tedious as well as full of mistakes and the gamble of solicitations getting lost.

IMS currently courses each receipt to be coded and approved by the right person. A few solicitations are consequently sent by IMS and others are directed by the AP representative If the framework isn't completely sure of this determination, the AP client will start the conveyance of the receipt to the procurer for authorisation. In the event that they don't have the right close down limit, IMS decides the suitable person to advance it to until conclusive endorsement is accomplished.

When the information has been caught from a receipt, it has been effectively matched to a PO or it has been supported by the business, it is presented consequently on the money framework for installment.

Coordinated recovery
Solicitations can be recovered from IMS at any stage, the full review trail and a background marked by the work process decides precisely where in the process each receipt is. It is likewise conceivable to recover solicitations straightforwardly from their ERP framework because of the reconciliation with IMS invoice processing automation. The full review trail is imperative as they need to consent to Sarbanes Oxley regulation. The IMS arrangement is utilized to aid this consistence, with the review trail giving a total history of the lifecycle of each report.

One of the critical qualities of the mechanized receipt handling activity is the tight joining between their money framework and IMS. This depends on an exchange of Shared Reference Data that happens daily that guarantees every framework contains the most exceptional data for example PO numbers, GL codes and new sellers.

The result of robotization
The new receipt handling arrangement has extensively robotized the AP division, this is bringing about an expansion in command over the cycle. Toward the finish of every month, the ERP framework delivers an AP Log report that rundowns every one of the solicitations that are with the business clients. It is normal that the slicker and quicker cycle will prompt a significant decrease in the quantity of things on this log.

Another result is an expansion in proficiency; the AP division can in a flash track down a receipt without with nothing to do pursuing the business clients. With roughly 70% of the solicitations currently matching the PO right away, a lot of solicitations just require examining, after which the cycle is totally computerized. This proficiency has straightforwardly brought about a decrease in the quantity of individuals expected in the Accounts Payable division; before the framework was introduced the group comprised of 13 individuals and there have been decreases in headcount, as the AP director validates: