Rapid automation invoice solution achieves zero errors

PE Backed Construction Group

Value Highlights

The client’s accounts payable (AP) team was spending over 400 hours each month manually processing more than 4,000 invoices. This high volume of manual data entry was not only labour-intensive and time-consuming but also prone to data inaccuracies, leading to a significant amount of rework. Panamoure was asked to provide a rapid automation process to improve efficiency and reduce costs.

What Were the Challenges?

Data inaccuracy: Processing meant a high error rate, with 10-30% of invoices requiring rework
Idle time: Time between processing of each invoice lead to inefficient use of resources
High costs: The manual process was costly, both in terms of labour and inevitable late payment penalties

So, What Did we Do?

Panamoure used a combination of AI technology and Microsoft Power Automate (RPA) to design an automated process for all invoice types
The combined solution was delivered in less than a month, fully integrated with the client’s existing ERP system (finance platform) and all incoming invoices were processed through the new procedure
The cost of implementing the solution was recovered in the first month of operation
The Panamoure solution resulted in all invoices being processed first time with error rates of 10-30% reduced to zero
3 FTE worth of time was saved with resources being allocated to more value added tasks
Our client invested £35k over a six week period to deliver a solution into production

Results

Zero error invoice rates from start of implementation
Total cost of solution recouped within the initial month of operation
3 FTE employee hours saved and allocated to higher value tasks
300% in a year payback, with ongoing savings year on year

Let’s discuss what we could achieve for your business

Related Case Studies

Rapid automation invoice solution achieves zero errors

PE Backed Construction Group

Value Highlights

What Were the Challenges?

So, What Did we Do?

Results

Let’s discuss what we could achieve for your business

Let’s Talk

Richard Hamerton-Stove

Partner, Data Strategy