Increasing Processing Efficiencies Case Study
This Fortune 10 Company initiated a project to increase overall processing efficiencies throughout the review and audit processes associated with their telecommunication costs. With more than 7000 invoices arriving each month in a paper format, processing was extremely cumbersome.
Obtaining detailed level data from the invoices in this highly manual environment was cost-prohibitive. This organization had to get serious about cost containment and resource optimization to increase profitability and growth.
The enterprise’s internal staff responsible for non-automated invoices was comprised of about 25 employees and were struggling to keep up with its responsibilities. Challenge Increase processing efficiencies for 7000+ invoices through automation Increase productivity throughout the review and audit phases. Obtain detailed level data from invoices solution. Our professionals performed a thorough analysis of the company’s requirements and aligned a specific solution to meet the client’s objectives. Our Invoice Data Capture managed service increased visibility and reporting capabilities enhancing the cost management and resource optimization of the operation.
Challenge
- Increase processing efficiencies for 7000+ invoices through automation
- Increase productivity throughout the review and audit phases. Obtain detailed level data from invoices solution.
- Our professionals performed a thorough analysis of the company’s requirements and aligned a specific solution to meet the client’s objectives.
- Our Invoice Data Capture managed service increased visibility and reporting capabilities enhancing the cost management and resource optimization of the operation.
RESULTS
Intelligent Bills found
But that's not all!
Our TEM Solution allowed our client’s team members to gain control and reduce expenses by electronically digitizing any paper media, thereby eliminating the manual processing of paper invoices, by using state of the art technology, and/or EDI transmission.
Through customized neuro scripting or EDI, we were able to process data at 99% accuracy levels for over 90% of all vendors. Thereby automating the billing audit, and approval process workflow.
Hard and Soft Dollar Savings, via the reduction of overhead costs down to 1% that before were in excess of 6%
Timely and Accurate Reporting reducing processing time by 70%
Complete Visibility into Overall Network Spend & Trends
Actionable Reporting for gained efficiencies and operational effectiveness
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