A Fortune 500 manufacturing enterprise offering power generation solutions wanted to replace its accounts payable invoice imaging application with a system that integrated with its financial ERP module.
The existing system involved scanning invoices, storing the invoice image in a third-party system, and entering the image data into an ERP system for invoice matching and supplier payments. The process required intensive human intervention and was managed by a third party at an offshore location.
Infosys designed a cloud solution to store the invoice images, match and process invoices, and approve payment to suppliers.
Key Challenges
- Labor-intensive process of entering invoice image data into ERP application
- Manual process slowed down invoice processing and payment
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The Solution
Automated end-to-end invoice imaging process of matching, processing, and approval of payments to suppliers
Infosys implemented an invoice imaging solution that automated invoice matching and processing to accelerate payments for suppliers.
Our team rolled out the end-to-end solution in multiple phases. In phase 1, we replaced the legacy system with Oracle Financials to store invoice images and created a payables application for supplier invoices. In the next phase, invoice data captured in Oracle SaaS applications was integrated with 12.1.3 Oracle Financials for invoice processing and payments. Infosys implemented a comprehensive payables functionality that integrated with the invoice imaging solution on the cloud.
Automated invoice matching and processing on the cloud
- Our solution enhanced process efficiency by 45% contributing to accelerated payments to suppliers
- Our automated solution reduced operational expenditure by 70%
Benefits
Our automated solution enhanced the efficiency of invoice processing by 45%.
Our automated invoice processing application reduced operational expenditure by 70%.
