Background
The client is a leading global alcohol beverage manufacturer with multiple brands. The company was looking to centralize and standardize processes across its 5 global in-house centers (GICs) – India, Hungary, Columbia, Kenya, Philippines. It wanted to track and maintain thousands of invoices by streamlining its accounts payable (AP) and accounts receivable (AR) processes.
Operational Bottlenecks
There was a lack of standardization across processes and applications which resulted in silos, hampering the overall operational efficiency. Unified roles and the absence of well-defined centralized processes created complexities. Further, the users faced challenges in managing exceptions and there was poor collaboration across internal and external stakeholders due to the vast scale of operations across geographies.
Furthermore, the invoices were paper-based, which required a lot of physical movement across departments. This resulted in low control over the invoices, delayed payments, and higher penalties. Therefore, the client realized the need to digitize invoices and enable paperless processing by minimizing human intervention and eliminating error-prone tasks.
Implementation Highlights
- 70% elimination of manual data entry
- 60% improvement in straight-through processing for clean invoices /single line item invoices
- 60% improvement in processing efficiency
- 50% increase in full-time equivalent (FTE) productivity
- 40% cost savings through FTE reduction and reduced IT operational costs