Home > Industries > Manufacturing > Vendor Invoice Automation For Efficient Account Payables Process

Challenge

Manufacturers often rely on humans and manual methods to carry out both mundane and critical business tasks such as document scanning, invoice matching, GRN posting etc. Manual execution of tasks present inherent problems of defects, non-scalability and high invoice processing costs. Normal workflow automation is not the right solution as it does not captures essential business knowledge present with your people. Thus, companies hoping to leverage benefits of automation often find themselves looking at new but slower processes and dissatisfied employees.

Manual tasks and processes often result in cash losses, over drawn credit limits, extra payments and wastage of precious manhours involved in manual activities such as scanning, reconciliations, approvals etc.

Our Solution

Techwave’s Robotic Process Automation (RPA) Services understand these precise challenges associated with accounts payable process. Techwave’s unique RPA framework and accelerators develop and deliver co-working bots based on industry leading RPA products such as Automation Anywhere, Ui Path and Blue Prism, alongside custom developed automation by leveraging Techwave Autonetics Platform.

Over a period of 5+ years, Techwave has developed multiple bots in several other areas such as Logistics, Accounting etc. and saved > 2 million USD for its clients. Some examples from our bot library:

  • PDF, images and MS documents scanning bot with 3-way matching
  • Itemized SAP posting bot
  • Web scrapping bot
  • SAP bot
  • Transaction data and itemized debit matching bot
  • Service desk ticketing bot

Benefits

  • Low risk, non-invasive technology to digitally transform legacy and manual accounts payable process
  • High accuracy with reduced number of defects
  • Co-working bots to enable employees to free time for other high value activities
  • Automated audit trail for transactions leading to higher compliance
  • Lower execution costs
  • Typical ROI of < 1 year for RPA projects

Advantage Techwave

  • Outcome and savings focused delivery of business relevant use cases
  • Experience consultants with global experience on RPA implementation projects
  • Strong pool of domain experts in manufacturing, supply chain and finance
  • Accelerators available to reduce development time
  • Flexible, local language friendly support operations for hassle free maintenance post deployment

Our Capabilities

Cloud

  • Cloud strategy and enablement
  • Cloud migration and deployment
  • DevOps
  • iMicron Unity for enterprise hybrid cloud management

Analytics

  • Big data analytics
  • Master Data Management
  • Enterprise dashboards using Qlik/PowerBI/Tableau

RPA

  • Hyper Automation
  • Freight Management
  • Accounting and reconciliations
  • ERP bots and agents

Internet of Things

  • Custom PCB design, firmware, and fabrication
  • COSMOS IoT middleware platform
  • Europe based manufacturing & support