Achieved straight through processing objective of over 90% and accuracy targets of over 90%
A large global healthcare provider needed to automate their growing invoice processing pipeline to process invoices more efficiently coming from over 400 suppliers, with the annual invoice volume expected to exceed over 100,000 invoices that same year.
There were several challenges, the first was that invoice processing was extremely inefficient and prone to errors, as the process involved manual data entry into multiple systems across disparate screens. And, the invoice formats not only varied by supplier, but they were also in two different languages—French and English—adding another dimension to the existing complexity.
As with any invoice, the payment had to first be validated against data in the ERP system, which meant manually extracting information from fields in multiple applications and following various procedures until a unique identification number was generated for use in the system of record.
The MOZAIQ services team automated the entire invoice validation process using robotic process automation (RPA) platform and an intelligent data processing (IDP) platform. The solution enabled the downloading of the invoice, the extraction of the data, validating and updating invoice details, generating the unique identification number, and ensuring that the payments to the suppliers were made in a timely manner.
The automation solution also incorporated exception handling for new suppliers, so that human processors could complete the accounts payable process during the initial setup.
The results of the automation solution were compelling, as a straight through processing objective of over 90% and accuracy targets of over 90% were achieved in the first week of production rollout.
The BOTS scanned, digitized, and validated the critical invoice data, which resulted in a significant reduction in financial penalties for late and incomplete payments, resulting in a higher bottom line for the healthcare provider.
And, the automation solution incorporated reusable and scalable features, enabling the healthcare provider to effortlessly expand the automation platform to other areas of the organization with similar processes.