Case Study
Fintech scales its invoicing business through automation
Industry
Function
Topic
Results
Scale
Scalable solution to add more clients
Speed
Faster billing process
35K+
Over 35,000 invoices processed annually
Company Profile
Leading provider of B2B accounts-receivable automation, automates order-to-cash for businesses across dozens of industries through tailored invoice delivery, multi-channel payment processing, and intelligent payment matching and posting. Holds double-digit market share in many categories served. Two-decade-old AR-automation innovator, recently transitioned to private-equity ownership.
Challenge
Manual data entry limits scale
This Fintech’s billing service sends invoices to customers on behalf of its clients according to each client’s specific invoicing instructions. The billing team would log into the client’s accounting portal (e.g., Coupa, Bottomline, Taulia) to manually log each invoice sent.
The process was highly repetitive and error prone, requiring significant management focus. Previous attempts to automate the process were suboptimal, requiring extensive ongoing development. Leadership sought an automation that could scale cost-effectively with their rapidly growing practice.
Solution
Invoice Processing Automation slashes processing time
WonderBotz developed a Solution based upon a chassis-connector approach. It ingests the customer invoices from a secure folder, parses the data, determines where to deliver the invoice and submits it to the client’s system of record.
No-code user portal credentials are securely managed through the company password manager. The solution allows business users to make changes to business rules and workflows as needed. Client portals without API capabilities are handled through an RPA connector and managed by externalized business rules.
Successfully completed transactions are archived automatically. The billing team is alerted to any exceptions for guidance and then final status is logged.
The solution processed the existing 35,000 invoices per year in a fraction of the time of manual processing. The invoice processing automation enabled this Fintech company to take on additional clients, growing its invoicing practice.
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