Fortune 1000 company moves invoice processing back on shore with InvoiceBotz
Industry : Retail and Consumer Services
Function : Accounting and Finance
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.
Scope Highlights
- Reshoring process from India to USA (& digital shore)
- WonderBotz InvoiceBotz for invoice receipt through registration
- Blue Prism Cloud running ABBYY Flexicapture for Invoices
- Roughly 400,000 annual invoices (1,500 daily)
- Roughly 175,000 vendors
- Line item GL coding
- Coupa
Challenge
This Fortune Company had moved their invoice processing offshore years ago and that BPO contract was coming to an end. While their BPO firm was providing agreed-to services levels, they were unable to keep up the client’s evolving needs such as line level data extraction and their straight-through processing rate was stuck at 30%. All at a lower cost, management wanted to bring the invoice process back onshore and under their control with expanded capabilities.
Solution
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 machine learning and invoice templates to drive OCR throughput. WonderBotz operates this solution in production on behalf of this client.