INCREASING HORSEPOWER FOR ACCOUNTS PAYABLE
How the largest consumer governed nonprofit health care organization in the United States increased AP processing productivity by 100% without adding staff
Having identified the perfect acquisition target, this prominent healthcare organization knew the benefits would outweigh the challenges of the merger. Through the merger, they would increase their capabilities to improve healthcare, making it more effective and more affordable while improving the experience of receiving care for every one of its patients.
However, one challenge became immediately apparent. How could the organization absorb a 100% increase in accounts payable volume without adding staff?
THE CHALLENGE
As the organization examined its existing ERP solution, it was clear that it would not scale to meet the anticipated volume from the merger. Even the updated version proposed by their current vendor would fall short. Without a better solution, the entire company would either have to drastically change the dynamics of their AP process, or they would need more people. Neither was an attractive strategic option. With this in mind, they turned to Genus Technologies for a solution.
THE SOLUTION
Unlike proposals that would have forced the organization to embrace entirely new software and processes, the Genus solution relied on collaboration between Genus, Kofax and a third party to keep the organization’s existing ERP system in place. With this goal in mind, Genus delivered an AP invoice processing solution that encompasses both inbound email invoices and scanned paper invoices. The solution extracts invoice data, performs purchase order line-item matching, and provides interfaces for general ledger and addon-cost coding. The solution initiates the AP workflow and feeds invoices to their existing ERP system, eliminating key-from-image almost entirely.
THE RESULTS
Our customer achieved its goal of meeting the challenges associated with its successful merger, including each of the following results:
- Increased AP processing capacity by 100% volume without adding additional staff
- Achieved a gain of 100% in AP process productivity when compared to the estimations associated with the updated system proposed by their existing ERP vendor
- Reduced key-from-image by 75% resulting in significant savings of both time and expense
- Increased visibility to process, meaning our customer now knows the volume of invoices in process as well as those waiting to go into the system
