Project Brief

Automated Processing of 700,000 Invoices Per Year

Company Profile

  • Large industrial distributor in North America.

Business Challenge

  • Using a manual process to handle 10,000 per day was costly, slow and error prone

The Solution

  • Automated Accounts Payable solution implemented on Captiva InputAccel for Invoices
  • Seamless integration with ERP system
  • Monitoring to allow for bottleneck identification
  • Automated security and retention ensured proper access and compliance standards enforced

Results / ROI

  • 90+% of invoices processed without human intervention
  • Expansion to 700,000 invoices per year while reducing head count
  • Accelerated processing increased early payment discounts and reduced late payment fees
  • System extended to accommodate other financial areas

Learn more about Accounts Payable automation.

 

“Paper-based invoicing processes can no longer support the volume of invoices handled by today’s businesses. Automation not only facilitates quicker payment of invoices to eliminate late payment fees; it also makes it possible to take advantage of early discounts. ”

– Program Manager