Nov 15, 2022
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Completed
E-Commerce Development for Retail Company
$50,000+
4-6 months
United States, Bayonne
6-9
Service categories
Domain focus
Business Services
Commerce
Consumer Products & Services
Challenge
Within the client's company's accounts payable (AP) department, handling invoices was one of the most paper-intensive tasks that demanded a significant amount of working hours every month.
Moreover, processing the invoices too slowly were resulting in hefty penalties and delay in payments. As for the accounts receivables (AR) department, the customers and vendors were following unique invoice templates forcing the employees to manually collect data and bill them, resulting in mismatch of accounts payable and receivables.
Within the client's company's accounts payable (AP) department, handling invoices was one of the most paper-intensive tasks that demanded a significant amount of working hours every month.
Moreover, processing the invoices too slowly were resulting in hefty penalties and delay in payments. As for the accounts receivables (AR) department, the customers and vendors were following unique invoice templates forcing the employees to manually collect data and bill them, resulting in mismatch of accounts payable and receivables.
Solution
The Client needed to automate their invoice processing and order validation process. The goal of this project was to reduce the time consumed on validating orders and processing invoices of the company and to reduce the workforce required to perform these critical tasks.
The Client needed to automate their invoice processing and order validation process. The goal of this project was to reduce the time consumed on validating orders and processing invoices of the company and to reduce the workforce required to perform these critical tasks.
Results
Conaxiom started with the use of Robotic Process Automation (RPA) and Artificial Intelligence (AI) and created a custom solution that scanned, digitized, and validated key data from the purchase orders to create invoices. Conaxiom helped Client' team by automating invoices and avoiding financial penalties for late and incomplete payments.
Then the RPA system deployed by Conaxiom improved the cycle time of invoice processing and started to bill customers sooner in order to maximize order validation by ensuring accuracy in every invoice dispatched.
Conaxiom started with the use of Robotic Process Automation (RPA) and Artificial Intelligence (AI) and created a custom solution that scanned, digitized, and validated key data from the purchase orders to create invoices. Conaxiom helped Client' team by automating invoices and avoiding financial penalties for late and incomplete payments.
Then the RPA system deployed by Conaxiom improved the cycle time of invoice processing and started to bill customers sooner in order to maximize order validation by ensuring accuracy in every invoice dispatched.
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