INTELLIGENT AUTOMATION CASE STUDY

Fortune 1000 company moves invoice processing back onshore with InvoiceBotz

Industry : Retail and Consumer Services

Function : Accounting and Finance

Results

3,000+ invoices processed daily (and scalable for more)

3,000+ invoices processed daily (and scalable for more)

99%+ line-item GL coding

99%+ line-item GL coding

Successfully returned invoicing to onshore

Successfully returned invoicing to onshore

Company Profile

North America’s premier provider of death care products and services, operating funeral service locations and cemeteries across the United States, Canada and Puerto Rico.

Automation Case Study Snapshot:

  • Industry : Retail and Consumer Services
  • Challenge : Dissatisfaction with BPO of Invoice Processing
  • Solution : InvoiceBotz
  • Outcome : Digital BPO – Automated Invoice Processing

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Challenge: Existing provider couldn't evolve to meet business needs

This Fortune 1000 company moved their invoice processing offshore years ago, and that BPO contract was ending. While their BPO firm was providing agreed-to services levels, they were unable to keep up with the client’s evolving needs. They cold not deliver line level data extraction and their straight-through processing rate was stuck at 30%.

Management sought a way to bring their invoice processing back onshore and expand capabilities, while lowering cost and improving accuracy.

Solution: Digital BPO – Automated Invoice Processing

WonderBotz’s prebuilt InvoiceBotz was chosen as the turn-key solution for speed-to-value, fit-to-need and future expandability. The core functionality includes comprehensive line-item level GL coding with automated reference file generation, expedited payment handling and customized work queues.

InvoiceBotz uses a combination of OCR (machine reading) and invoice templates in our machine learning engine. Automated invoice processing extracts line-item data and applies the correct GL codes. After completing training, the solution doubled daily invoice capacity and successfully coded 99% of line-item data from over 175,000 vendors.

WonderBotz operates this solution in production on behalf of this client providing a Digital BPO service. By outsourcing to the cloud rather than an offshore provider, the in-house team could handle exceptions, audit outputs and scale with business growth.