Case Study
Accounts Payable transformation helps leading pharma firm save 1.6 million USD
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The client is a leading multinational pharmaceutical company that manufactures a wide range of affordable and high-quality generic medicines. It has operations in 43 countries with 21 manufacturing facilities across 8 countries and serves customers across more than 150 countries.
SSC Business Challenges
- Elongated vendor payments
- Manual handling of documents, invoice processing, manual data entries across myriad business systems such as ERPs, e-approval systems,s and other employee portals leading to duplication, erroneous inputs, and elongated processing times
- Increased vendor queries and follow-ups for payments with no way to track the invoices processing status
- No status for internal stakeholders on claims travel allowance approvals, etc
- Lack of an effective tracking, monitoring, and reporting system for KPI management and performance-based incentive handling
- Need to reduce the cost incurred per invoice
- Need to reduce the cost incurred per employee
- Streamlining audit cycles for faster and compliant audits
Business impact the value realized
- USD 1.6 million in cost savings
- 30% reduction in cycle times
- 35% improvement in FTE productivity
- > 95% on-time payments
- 21% reduction in cost per invoice