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The client is active in the areas of Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress – always going the extra mile to support customers in achieving their business goals and sustainability targets.
The client generated over 140,000 invoices (90,000 PO Invoices + 50,000 Non-PO Invoices) every year which were manually processed by a 20-member team. As the processes was lengthy and cumbersome, the goods receipt note (GRN) was often prepared in multiple delays which also led to delay in invoice booking process.
The processing team not being tech-savvy resulted in multiple backlogs and reduced the overall efficiency. Being a global company, the client's operations were spread out across multiple geographies, which made the consolidation of the global data difficult for them.
They was also incurring high cost as the operations were carried out on legacy applications which often reduced the quality in invoice processing. They wanted to automate the entire process of accounts payables to increase their overall efficiency.
The client with Datamatics on their endeavor towards digital transformation and leveraged Datamatics' Artificial Intelligence (AI) enabled RPA solution, TruBot to automate the end-to-end process of accounts payables for their finance shared service centers across the world.
Datamatics reengineered the entire process and streamlined the consolidation and optimization. Datamatics used the intelligent data capture solution, TruCap+ to auto-capture the details and automatically validate the data from invoices and connected the existing applications using the highly configurable web-based workflow solution, Finato.
Three-way matching of invoices was automated including the mapping of invoice line description to the correct general Ledger (GL) expense account.
Processed annually with automation
In overall efficiency and productivity
Due to accurate and real-time data visibility across global locations
With intelligent workflow leading to partner and supplier satisfaction
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