Missing vendor invoices get applied to POs to save 6,200+ hours annually

Industry : BPO and Business Services, Cross-Industry

Function : Accounting and Finance

Company Profile

Worldwide digital company providing a trusted platform that brings together and interconnects foundational infrastructure, enabling organizations to access all the right places, partners and possibilities to accelerate competitive advantage.

Scope Highlights

  • Applying vendor invoices to purchase orders
  • Coupa
  • Oracle
  • Intelligent process automation

Challenge

Procurement team worked hard to originate, maintain and close POs. However, sometimes backlogs delayed expense recording leading to inaccuracies in month-end financials. The automation center of excellence  team recognized the need for a smart solution that could help reconcile goods and services received relative to open POs. Also, they sought to use the same automation to facilitate PO origination. Leadership sought to establish system-driven accruals, accurate financials and remove barriers to a faster month-end close.

Solution

The automation monitors the list of POs and notifies owners when expected invoices have not yet been received. PO owners can reply with invoice details, and the automation validates the data and updates the record in the ERP. If the PO owner does not respond, the automation uses business rules to close the PO and either notifies the PO owner that processing is complete or escalates the case for high-value POs. The automation produces an end-of-day report for analytics and tracking of processed items.

Results

6,250 manual processing hours saved annually

Reduced SLAs and faster month-end closing

Increased data accuracy