INTELLIGENT AUTOMATION CASE STUDY

Fortune 500 company doubles straight-through invoice processing rates

Industry : Media and Entertainment

Function : Accounting and Finance

Results

86% vendor invoice coverage, up from initial 40%

86% vendor invoice coverage, up from initial 40%

Straight-through invoice processing increased to 92%

Straight-through invoice processing increased to 92%

$250,000+ in additional annual savings

$250,000+ in additional annual savings

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.

RPA Case Study Snapshot:

  • Industry: Media and Entertainment
  • Challenge: Scaling up invoice automation
  • Solution: InvoiceBotz
  • Outcome: Achieved 92% Straight-through invoice processing

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Challenge: Scaling straight through Invoice processing

In the first phase of implementation, InvoiceBotz had been installed with more than 500 unique data capture and validation business rules. InvoiceBotz, is WonderBotz prebuilt invoice automation solution that incorporates OCR, machine learning, and business rules to import, read, understand, and log supplier invoices.  

During the initial rollout, the Accounts Payable team had achieved 40% straight-through invoice processing from receipt to registration into SAP/Ariba.  

In the second phase the organization focused on the remaining 60% of invoices not already automated. The goal was a substantial increase in automated throughput of their 500,000 invoices received annually from over 100,000 suppliers.  

Solution: Scaling InvoiceBotz to maximize throughput

WonderBotz worked with the client’s team to scale their straight through invoice processing. Together they identified new vendors and templates based on volume, region, and format, expanding the training for the InvoiceBotz ML model to cover 86% of vendor invoices.

Existing features let them expand processing, while crafting new business rules boosted extracted data accuracy and OCR confidence rates. This collaborative effort more than doubled their straight through invoice processing from 40% to an industry leading 92%.

The performance improvements allowed their AP department to save $250,000 annually and better meet internal and external service level agreements.