Challenge
A leading Fortune 50 supermarket chain and manufacturer, with over 3,640 stores and facilities, processes more than $1M in payable invoices annually.
Their existing operations relied on cumbersome, manual processing from paper invoices-resulting in inefficient processes and frequent errors that led to missed or duplicate payments.
Solution
Exela recommended that the customer capture and validate data directly from incoming mail. Right at the source. Exela implemented a system that would capture and extract data to track all utility invoices for each location, helping key trend analysis for management.
The customer was able to reduce paperwork leading to a 50 percent headcount reduction in the department. Cost savings and improved supplier onboarding coupled with the simple procure-to-pay system has simplified their day-to-day business life
Benefits
- Increased visibility with digital format.
- Heightened responsiveness and accountability across the organization.
- Faster access to invoices has helped prioritize invoices, handle exceptions, process payments and analyze key performance indicators.
- Reducing paperwork throughout the AP process lowers operational costs and has led to a 50% reduction in department headcount.
- Streamlined procure-to-pay procedures have improved new supplier on-boarding and simplified invoice processing.