The client is a leading name in the Claims management domain which offers services to insurance companies, leasing companies, governmental bodies and corporations. In the Netherlands, it is one of the largest testing and certification companies with approximately 900 employees. The company is active in various fields, including Product Testing & Certification, Business Assurance, Material Testing & Inspection, Industrial Safety, Process Safety, Rail and Claims & Expertise. The group aims at a 5.5B Euro turnover by 2025.
The client organisation is a SAP user and had more 750 documents/ month or close to 10,000 documents per annum of which more than 65% were multi page, multi-line invoices. Some of these invoices ran in to more than 20 pages each. The organisation was faced with some roadblocks which were hindering its growth plans and affecting resource allocations.
The client organisation is a SAP user and had more 750 documents/ month or close to 10,000 documents per annum of which more than 65% were multi page, multi-line invoices. Some of these invoices ran in to more than 20 pages each. The organisation was faced with some roadblocks which were hindering its growth plans and affecting resource allocations.
Major challenges included:
- Old system was clumsy, un-scalable, expensive system
- Bad and inconsistent processing for 2 years had led to a system of delayed performance, multiple reviews, resource blocking for correcting inefficiencies
- After authorisation and management reports several corrections were required
- Multi line, Multi page invoices which they were unable to handle
- Rigid Dimensions
- Inefficient User Interface
- Un-supporting foreign codes
SmartBooqing stepped in as a key service provider with a mandate to revamp the system and introduce efficiencies through technology. It was essential to note that SmartBooqing’s robust integration with ERP solutions (SAP in this case) was a critical factor in ensuring faster and seamless data exchange
- The benefits were clearly quantifiable within 5 months of close intervention, process re-working and development which included
- Discussions and inputs about required User interface, additional features, specific customised requirements
- Configuration of administrations
- Configuration for VAT and other cost codes for data enhancement
- Working on intelligent OCR for capturing 4-5 line articles for an amount
The implementation of SmartBooqing ensured that the organisation made significant process improvements such as
- Drastically improved quality of digitisation
- Faster processing
- Operator/ reviewer independent consistent quality
- Enrichment of multi-page, complex Multi-line invoices which got 100% digitised and advance processing.
- Creation of a digital, searchable online archive.
It is essential to note that high-level authorisation for corrections in closed periods have a huge impact on costs, reviews and image.
Whether SMEs or large organisations in Finance and Accounting, SmartBooqing’s state of the art technology backed by a strong technical team with depth of knowledge ensures a much higher ROI, resource saving and creation of a scalable, robust solution.
The organisation was also able to achieve quantifiable increase in various metrics.
- While advanced Account code implementation for correct fiscal rules stood at approx. 60% manually, the use of SBQ’s 100% robotic solution raised the same to 100%.
- Similarly, the enrichment on line-level for large 20 page docs grew by an average 30%.
- The growth in performance by implementation of profit centres, advanced codes and cost codes in the system also help push up efficiencies by 30%+