Automation of Accounts Payable & Receivable Process

Our client, a leading worldwide supplier of catering solutions and provisioning services, has over 30 years of experience and is the largest independent supplier of logistics and catering worldwide. Despite its size, the client faced inefficiencies in their accounts payable and receivable processes, which were largely manual and unstructured. Relevance Lab implemented a tailored RPA solution to streamline operations, improve cash flow, and enhance data visibility across their business units.

Friction Points

• Manual Processing: Invoices were processed by hand and received in an unstructured format, leading to increased errors and prolonged processing times.
• Payment Cycle Delays: Manual involvement led to an elongated payment cycle, damaging buyer-supplier relationships.
• Lack of Data Visibility: The decentralized processes caused poor data visibility, hindering decision-making across global business units.
• Financial Risks: The client faced fines, missed discounts, and wasted cash application due to inefficiencies in handling invoices and payments.

Solution

• Document Structuring: Transforming unstructured bills and receipts into structured documents for easy processing.
• Automated Data Extraction: Automatically extracting relevant data from incoming invoices and receipts.
• GL Routing: Extract data to the correct general ledger (GL) expenditure accounts, ensuring accurate financial records.

Impact

• 40% improvement in overall efficiency, reducing manual effort and increasing speed.
• Improved cash management by avoiding penalties and maximizing early payment discounts.
• Lowered processing costs and enhanced data quality and accuracy.
• Streamlined global operations, leading to better decision-making across the organization.