SUCCESS STORY
Invoice processing automation
Invoice processing and payments were fully automated, greatly increasing efficiency and reducing costs for the client.
About the Client
The client is a forward thinking, industrial technology company, with headquarters in London, specialising in Security & Defence, General Industry, Energy, and Space & Aerospace.
Founded in 1851, it now employs over 22,000 people globally, with customers in 200 countries. The company strives for constant innovation and improvement.
The Vision
The client’s goal was to bring in automation into the Accounts Payable (AP) Module, to save valuable time and money, and to reduce the number of errors in data entry. This would result in greatly increased efficiency and accuracy of vendor invoice processing.
The client aimed to achieve the following with the solution:
- Replace manual processing of vendor invoices with touchless receiving and scanning of invoices
- Accurately detect invoice anomalies using Artificial Intelligence (AI)
- Reduce manual work in exceptions management through AI & Machine Learning (ML)
- Approve vendor invoices from desktop or mobile devices Verify vendor invoices against ERP purchase orders, in real-time
- Quickly resolve discrepancies with vendors
- Monitor key vendor invoice metrics
Kagool worked with the client to identify the best AP automation tool and helped them deploy it by integrating it with their backend ERP systems.
Exciting use case to harness the power of AI/ML to improve automation and productivity
Nazeer Ahmed
P2P Principal Consultant
Our Solution
Kagool worked with the client to integrate the SaaS to their backend ERP system. We used a variety of tools:
- Velocity (for data ingestion from ERP)
- Azure Data Lake (for hosting and distributing master data)
- MuleSoft (for application integration)
Kagool integrated off-the-shelf SaaS to the client’s ERP with minimal development time. They were able to achieve their goals and get their ROI in quick time.
Outcomes
The invoice verification and payment process is fully automated, greatly increasing efficiency and productivity. Rather than spending hours manually inputting vendor invoices, they are automatically scanned, approved, validated and posted into the backend ERP system.
The solution is also easily scalable and adaptable to future business needs. The Azure platform is easy to modify based on changing requirements, and enables further innovations including AI, predictive analytics and more.
As a result of Kagool’s ongoing success working with the client, we are planning many more digital transformation programmes to further improve the company's business processes.
Benefits
Cut costs
Reduces staffing costs through automation and timely payments
Due diligence is automated
Rejects anomalous and non-compliant invoices
Supplier satisfaction
Reduces late payment of invoices, therefore increasing supplier satisfaction
Productivity increases
Increases productivity through quick vendor resolution, better user experience and metrics monitoring
Adaptable & scalable
Adaptable and scalable data model for continually evolving and growing IT landscape
Innovative
Innovation ready data platform for leveraging AI, ML, the Internet of Things (IoT) and more
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