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Streamlining Account Payable Process for a Global Auto-Manufacturing Leader

Customer Profile

The Organization is one of the leading global Automobile Manufacturer with multiple plants across the Globe


Vendors Services Supported –UK, EU, SA, Australia, Germany, Belgium, Luxemburg, China, India, NA and Canada

Business Challenges

The Organization processes about 4 million supplier/partner invoices a year. They need solution to:

  • Effectively manage payable process with objective to reduce payment TAT
  • Error free transaction
  • Supplier satisfaction
  • Automate manual processes and
  • Audit critical steps

Solution

Deployed 100+ highly skilled resources to manage end-to-end Account Payable & dedicated teams created to handle invoice receipt, inward OCR, Validation, Posting, audits & Recon

Designed “RPA”, automated process & excel macro for critical steps & dealing with errors by training tool to auto read text from new invoice format

Stringent process to irradiate duplicate invoice & payment & Timely analysis and regular
follow-up with suppliers to clear debit balance

Benefits

6K+ monthly AP email processed with 100% compliance to TAT of 2 days.

Reduction in average handling time per invoice

40% efficiency improvement in supplier helpdesk

>99% Transaction accuracy

96% Payment by Due date for monthly Invoice volume of 34K

100% compliance to Monthly Statement Reconciliation

40% reduction in Vendor Debit Balance

12K and 6K Pre Audit and Potential Duplicate Audits monthly