Making document processing closer to real-time invoicing
Simplified and accelerated AP process with complete invoice workflow implementation
About the client
One of the largest water and waste water services company in the UK responsible for public water supply and waste water treatment.
The Challenge
While responsible for public water supply and wastewater treatment in large parts of Greater London, Luton, the Thames Valley, Surrey, Gloucestershire, Wiltshire, Kent, and some other areas of the UK. The client received as many as 1,600 invoices from its suppliers across the UK on any given day.
Processing the high volumes of invoices and other accounts payable documentation started becoming an extremely time-consuming and costly process for the company’s accounts departments. The invoices were in various formats and came from across the UK – all at different times during the day. They would pile up in the accounts section in paper formats or as email attachments.
To overcome this challenge, the company turned to CoreFlex to seek assistance in critical document processing and streamline the accounts payable process.
Our Solution
Our expert document processing team was able to access every invoice submitted for payment to the client via a secure login. Our team then got on to the process of collating all the invoice information, as per client specifications, and uploaded it to the client’s accounts payable system.
Our team first captured data from all the different invoices in varied formats and keyed them into the Accounts Payable (AP) system, as per client instructions. Once data was received in the AP system, then the approval workflow was triggered based on the processes set. For the approved invoices, the payment gets processed through bank instructions.
Our team maintained the utmost accuracy while punching in details from the invoices to ensure there is no bottleneck, and the process moves ahead smoothly.
Value delivered
Digitized paper invoices integrated with the client’s AP system
Simplified and accelerated AP process with complete invoice workflow implementation
Reduced headcount in the AP process with invoice automation
More resources to focus on value-added activities
Accurate financial reporting
Manageable cash flow forecast generation
All invoicing and payment data available in the system
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