One of the top retailers in the world, and the leading supermarket chain in the United States relied heavily on cumbersome manual processes and an inefficient Accounts Payable operation. Between lost invoices, frequent errors, and missing or duplicated payments, this operation was in serious need of an overhaul.
Additionally, there was not an easy way to identify the true cost of goods when multiple sites were paying different prices for the same item from the same vendor. It became apparent that the decentralized AP function of the treasury department was costing the company in inefficiency and lack of consistent processes. Because of the siloed nature of the Accounting teams, the Treasury function was unable to reconcile efficiently.
Exela’s consultative approach offered a thorough understanding of the current process to better understand where improvements could be implemented. Exela recommended an innovative solution that would automate many steps, increase productivity, and streamline operations while saving the client money. Exela first implemented a digital mailroom to capture and validate data from the incoming mail.
By focusing heavily on non-EDI, indirect purchase invoices, Exela automated this process by moving all invoices to a digital format to increase visibility, responsiveness and accountability across the organization.
By requiring vendors to join a global vendor network, Exela was able to transform the Accounts Payable process and give insight to the treasury team while streamlining the procure-to-pay (P2P) procedures. On top of centralizing the function and increasing efficiency, the new process allowed the grocer to take advantage of liquidity opportunities that before had not been leveraged.
This solution enabled the customer to track all invoices for each location, offering key analytics allowing them to recognize exceptions and quickly rectify situations. Additionally, the Exela solution improved supplier onboarding and simplified invoice processing, allowing the client to reallocate 50% of the department headcount.
- Increased visibility
- Improved responsiveness
- Enabled enterprise transparency
- Reduced paperwork
- Lowered operational cost
- Decreased Full-Time Equivalent (FTE) by 50%
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