Invoice Processing Issues The Backlog
Problem: Potential Breach of Contract Trading Terms
The Challenge:
- 10,000 invoices comprising over 140,000 skus were rejected for payment and multiple variables needed to be isolated to clear the backlog.
- To enable the team to approve invoices the fastest way possible, a new process needed to be built to automate the investigation.
Traditional Solution: IT software development estimated at 40 to 60 developer days
Solution: Apply our Algomatics™ methodology to automatically sort and isolate which Invoices were rejected due pertinent variables and facilitate payment in less than 1 week with 5 development days
Outcome:
- Saved 35 to 55 days effort by the client’s IT developers.
- Supplier paid on time
Status: Now used daily as a way to improve invoice checking