Business need
Our client, a multinational company with $26 Billion in revenues with presence in 100 countries, employing nearly 144,000 across the globe, had the following business need:
- Legacy shadow IT solutions for processing vendor invoices
- Regional specific tedious manual processes
- Increased backlog with no corresponding PO’s
- Overpaid invoices and not taking the advantage of the of the early payments and net terms
Solution
- Implemented centralized global PO systems
- Bots enabled to interact with legacy shadow IT systems to pick up pending invoices
- Bots auto detect corresponding PO from central system
- Bots auto approves invoices based on threshold and auto releases timely payments
Benefits
- Bots process 3.6 Million invoices per month
- No backlog of invoices
- Increased efficiencies as only exceptions are reviewed by concerned personal
- Client was able repurpose 20-25 personnel from accounts payable department which lead to $1.2M savings per year