Case Study
Enterprise Information Management and Procure to Pay for Invoice Automation
Learn how implementing Enterprise Information Management and Procure to Pay solutions helped a prominent leader in the casual dining industry.
Challenge
As a prominent leader in the casual dining industry, this company has been serving over one million guests in its restaurants on a daily basis.
Throughout its impressive 38-year history, the organisation has experienced remarkable growth and transformation, evolving from a single restaurant into an expansive network of over 15,000 locations spanning 33 countries.
However, as the company expanded, it faced the challenge of dealing with exorbitant labour costs resulting from the handling of more than 200,000 paper invoices each month. These invoices originated from over 1,700 restaurant locations.
The absence of immediate plans to integrate the stores with the corporate office and the lack of a centralised document repository further exacerbated the issue. Consequently, the Accounts Payable (AP) department had limited visibility and control over the invoice management process. Additionally, there was a dearth of formal quality assurance measures, with only minimal reporting and reconciliation procedures in place.
solution
XBP Europe offers Enterprise Information Management and Procure to Pay
To address these challenges, XBP Europe implemented a comprehensive solution that encompassed mailroom operations, including scanning and Optical Character Recognition (OCR) services. This enabled efficient handling of all restaurant invoices by facilitating ingestion, indexing, and validation processes. At the heart of this solution was the Enterprise Information Management and Procure to Pay (P2P) platform, which played a crucial role in streamlining operations.
Furthermore, XBP Europe introduced workflow optimization through a centralised image repository, enhancing the overall efficiency of invoice management.
The outcomes and progress of these processes were meticulously reported through a user-friendly web-based dashboard, utilising Rule14’s advanced module called Athena. This dashboard provided comprehensive insights and analytics to aid in decision-making and control.
Moreover, in order to ensure the highest level of quality and accuracy, a formal quality assurance program was implemented. This program encompassed rigorous monitoring, reporting, and reconciliation procedures to maintain the integrity of the invoice control process and optimise overall performance.
Benefits
Benefits with XBP Europe Enterprise Information Management
By implementing these solutions, the company achieved significant cost savings. They gained real-time access to vendor invoices, enabling prompt follow-up and efficient communication. As a result, the amount of time required to process invoices was reduced, leading to improved operational efficiency.
The introduction of enhanced web-based reporting and reconciliation processes provided the company with better visibility and control over their Accounts Payable (AP) situation. This allowed them to effectively manage their AP processes and close their accounting in a timely manner. The web-based tools facilitated easy monitoring, tracking, and analysis of financial data, enabling the client to make informed decisions and maintain accurate records.
- realised a savings of 40%
- quicker turnaround time
- real-time access to vendor invoices for follow-up
- reduced the amount of time required to process invoices
- enhanced web-based reporting and reconciliation process
