Fortune 500 Company doubles invoice straight-through processing rates, from receipt to registration

Industry : Media and Entertainment

Company Profile

International Media Organization provides the world with innovative streaming services and digital video products, as well as production, distribution and advertising solutions. The company also delivers the largest share of the U.S. television audience and has amassed one of the most extensive libraries of TV and film titles.

Scope Highlights

  • 500,000 invoices annually from over 100,000 suppliers
  • SAP/Ariba
  • 500 unique data capture and validation rules
  • Robotic Process Automation (RPA)
  • ABBYY Flexicapture for Invoices
  • Email system

Challenge

WonderBotz InvoiceBotz had been installed previously and included more than 500 unique data capture and validation rules. During the initial invoice automation rollout, the Accounts Payable team had achieved 40% straight-through invoice processing from receipt to registration into SAP/Ariba. The organization then focused in on the remaining 60% of invoices not already automated and sought substantial increases in automated throughput and performance improvements on internal and external service level agreements.

Solution

A team comprised of members from both the client and WonderBotz worked together to scale InvoiceBotz processing scope by adding more vendors and templates to the existing program. Using existing WonderBotz InvoiceBotz functionality, the joint team identified new vendor invoices to be added, grouped by high and low volume, region, and formats, and expanded the business rules to further verify extracted data to improve confidence levels and OCR data quality.

Results

86% vendor invoice coverage, up from initial 40%

Straight-through processing increased to 92%

$250,000+ in additional annual savings