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Automation of Accounts Payable (AP) Invoice Processing

Automate Invoice Processing and gained 98% productivity

Duration: 2 weeks

Industry: Manufacturing

Automation of Accounts Payable (AP) Invoice Processing

Automate Invoice Processing and gained 98% productivity

Duration: 2 weeks

Industry: Manufacturing

Overview

The client is an innovative technology company which provides an online platform to control & manage entire PCBA manufacturing processes. Which makes new & high-volume production processes easier. The manufacturing platform connects thousands of businesses directly to the manufacturing floor.

The Challenge

The business was growing rapidly and was processing about 400 invoices a month. All the invoices were processed manually. It took about 4 minutes to enter an invoice to the accounting system manually. The manual system was inefficient, and the management recognized that the invoice processing cost will go up as the business grows.

The Solution

Perituza has designed and implemented a Robotic Process Automation (RPA) solutions to automate invoices processing activities. The software solutions read the invoice file and extract necessary data elements and enter into the accounting system and attach the invoice. This solution was implemented within two weeks.

Technologies used

  • 5UiPath
  • 5C#
  • 5Microsoft Azure Cloud
  • 5QuickBooks Online API
  • 5Web API

Project management and communication
tools used

  • 5JIRA
  • 5Confluence
  • 5 Hipchat
  • 5Bitbucket
  • 5Skype
  • 5 GoToMeeting
  • 5 Direct dial phone
  • 5Email
  • 5JIRA
  • 5Confluence
  • 5 Hipchat
  • 5Bitbucket
  • 5Skype
  • 5GoToMeeting
  • 5Direct dial phone
  • 5Email

The Result

The client was able to process an invoice within 4 seconds. This was a 98% productivity gain resulted of saving 40 man-days per year. Also, the RPA invoice processing solution is highly scalable.

Before (manual) After (with RPA)
No. of invoices/month 400 400
Avg. time takes to process an invoice 4 minutes 4 seconds
Total processing time (hrs.)/months 26.67 hours 0.44 hours
Total processing time (days)/months 3.33 days 0.06 days

Time saved % per invoice = 98% 
Time saving per year (approx.) = 40 days
Financial savings (soft dollars) = $28,000/Year (40 X cost of man-day*)
*Total hourly cost of man-day (accountant) = $70

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