Is the number of suppliers and paper invoices you have to manage each month getting out of control? Sometimes even advanced procurement systems do not really provide functionality for electronic invoices. Olympe helped a world leading consumer goods company reduce the time wasted on handling printed invoices.
- With COVID-19 lockdowns the company’s suppliers of raw materials could not scan or post invoices from their office. Scanning from mobile phone was not available
- The company was receiving invoices erratically, requiring manual processing and increasing the invoice management workload
- Suppliers with unpaid invoices sometimes stopped delivery, creating an untenable situation for the company
Solution
Olympe’s CEO developed the first working prototype within 24 hours of receiving the requirements. The application was put into production in less than a week. It included a Microsoft optical character recognition service to read key fields from the submitted invoices and auto-populate them in the application. As it accessed sensitive supplier data, Olympe delivered the application on-premises.
Results
The invoice management team experienced a 20% reduction in effort. The new system was rapidly adopted by the company and its suppliers.
-20%
20% reduction in effort required for company’s invoice management team to process submitted invoices
1 week
First production application developed in less than a week
1 million invoices
1 million invoices per year and 10,000+ suppliers positively impacted
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