A manufacturing firm faced high processing costs and frequent delays in managing invoices, with manual data entry slowing down vendor payments.

The Challenge

The manual handling of high-volume invoices led to processing delays, data entry errors, and difficulty in tracking approvals, affecting vendor relationships.

The Solution

RoundInfinity’s Accounts Payable Automation provided end-to-end invoice management, capturing invoices from emails, validating data, and automating approval workflows.

Key Features Implemented

• Automated Invoice Capture and Data Extraction: Extracted invoice data automatically, reducing the need for manual entry.
• Two-Way Matching: Matched invoices with purchase orders and delivery receipts to ensure accuracy.
• Approval Workflow Automation: Routed invoices for necessary approvals, with reminders to expedite the process.
• Real-Time Reporting and Dashboards: Provided visibility into pending invoices, payment status, and overall spending trends.

Results

The company reduced invoice processing time by 60%, minimized errors, and improved on-time payments, strengthening vendor relationships. The automation led to a 40% reduction in AP processing costs, freeing up resources for strategic initiatives.

Conclusion

RoundInfinity’s Accounts Payable Automation transformed the manufacturing firm’s invoice management, enhancing efficiency and compliance. The company gained better control over its accounts payable process, reducing costs and fostering stronger vendor partnerships.