How a Construction Company Processes 50 Invoices in 60 Seconds
83%
50
in a minute
$300K
THE CHALLENGE
Inefficient use of staff time with a manual invoicing process
A leading construction company receives 50+ invoices daily. Since they were manually processing incoming invoices, their accounts department spent 80% of the time, or close to 6 hours a day, just sifting through invoices to enter them into the ERP and accounting system. Processing an invoice involves the following:
- Capturing the invoice
- Splitting the compound invoice into individual invoices
- Understanding the data for each invoice
- Entering this data into the ERP system
- Uploading the associated file
- Generating a reference
- Entering the same data and reference into their accounting system and uploading the file into their accounting system
These steps incorporate manual data entry, which is time-consuming, error-prone, and costly.
HOW OZ HELPED
Building an automated invoicing process
OZ automated the invoicing process by first mapping the process and the steps it takes to enter the invoice into the system. Then automated bots were created to extract data from all the invoices via email, analyze, and integrate them into the ERP and accounting systems.
HOW IT WAS DONE
- All the invoices received by email are saved as attachments in a folder
- The compound invoice—a collection of invoices, anywhere from 16 to 60 invoices arriving in one file or folder—is split into individual invoices based on the invoice number
- Data is extracted from individual invoices and saved to a data file
- The data is then entered into the ERP system from the data file and the relevant file is uploaded to the organization’s ERP system
- Log into the accounting system, enter the data, and upload the reference file
- Generates an email report on successfully processed invoices and failed ones if any
IMPACT
Faster invoice processing, more savings
By automating this process, OZ helped the client save time and money and increase accuracy.
- Over $300,000/year will be saved thanks to automation
- What initially took their staff up to 6 hours to complete now gets done in a few minutes
- Their staff can now focus on higher-value accounting work than manual data entry
