Accounts payable automation: Real-world success stories
Find out how Hyland has helped AP departments automate crucial processes to achieve enterprise-wide benefits and savings.
Find out how Hyland has helped AP departments automate crucial processes to achieve enterprise-wide benefits and savings.
Research by the American Productivity & Quality Center shows the high costs of inefficient accounts payable (AP) processes.
Organizations with little or no automation spend an average of $8.78 per invoice — $7.01 higher than the norm for companies that have embraced automation.
An Ardent Partners study found that best-in-class AP departments spend 15% of their time responding to inquiries. The average for all others was almost twice as high — 29%.
Hyland helps organizations accelerate cycle times and controls by reducing paper and manual processes, as well as data entry errors, through automation technologies that scale to meet the needs of your business. Reduce manual touches, speed reviews and enable your employees to spend more time on value-added tasks.
Here are just a few examples:
Challenges they faced:
As the volume of its invoices increased, Siemens invested in SAP and data capture solutions. But the German technology giant experienced limited efficiency gains, which led to a fragmented tech landscape that included almost 10 different optical character recognition (OCR) solutions for invoice processing.
The company was “looking for one harmonized process for incoming invoices for all vendors,” Head of Strategy for Financial Shared Services Nikolas Barth said.
— Nikolas Barth, Head of Strategy, Financial Shared Services, Siemens
Siemens found what it was searching for by implementing Hyland Brainware, an intelligent capture solution that uses human-like capabilities to classify, extract and validate data.
Siemens needed to consolidate multiple OCR solutions and wanted one solution to integrate with its many instances of SAP. Within nine weeks, Brainware was operational within the company’s SAP systems and provided hands-free invoice classification and data extraction.
> Learn more | Intelligent capture is smart solution for Siemens
Global invoice processing is getting more complex — and costly. This white paper from the Institute of Finance & Management explores why AP automation is a necessity, along with common pain points and the risks of standing still.
Challenges they faced:
Canal Barge had an overload of paper. The AP department generated between 300,000 to 500,000 sheets a year, and the marine transportation company needed to make a change.
AP staff put a code on each invoice for tracking purposes and made a copy for their records. The approval process could take days and offered no visibility.
Canal Barge deployed Hyland OnBase to streamline financial operations. The transformed invoice approval process is no longer manual and has eliminated paper copies.
“The real estate savings alone would probably pay for this project,” Director of Information Systems and Knowledge Management Carl Fravel said.
OnBase automatically captures invoice data as it arrives, and an integration with Infor allows vendor lookups and validations to quickly take place. OnBase automatically notifies reviewers when they have an invoice to approve.
— Carl Fravel, Director of Information Systems and Knowledge Management, Canal Barge
> Learn more | Canal Barge transforms financial operations
Challenges they faced:
At the start of the COVID-19 pandemic, the majority of Axxess International’s employees worked from home. The company had a small help desk, and integration was a significant challenge for the global business.
Axxess International sought a cloud-first solution that improved processes and maintained continuity.
The freight forwarder and customs broker turned to OnBase. The first step was an AP solution for freight and brokerage transactions.
That created a “wow factor,” which led to initiatives in Axxess International’s U.S. and Canadian customs departments, as well as its “traffic team” in Canada. The latter group receives freight and commercial documents — such as invoices, packing lists, certificates of original and bills of lading — that arrive by ship and plane.
“We used to manage this process with Outlook. Managing a workflow with Outlook: Ouch,” Vice President of Administration and IT Stéphane Rouleau said.
— Stéphane Rouleau, Vice President of Administration and IT, Axxess International
> Learn more | Freight forwarder sees rapid process advances
Is your AP department slowed by high volumes of paper and manual work that affect the bottom line? Hyland can help.
With packaged workflows for back-office processes, low-code tools and seamless enterprise integrations, we empower organizations with AI-driven process automation that fuels innovation.
Ready to transform your AP department from a cost center to a profit center? Let’s chat.
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