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Costain Transforms Its Finance Department Using ABBYY Content Intelligence

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Customer Overview

Name Costain Group PLC
Headquarters Maidenhead, England, UK
Industry Construction, civil engineering
Web

Costain is a leading smart infrastructure solutions company serving the UK’s energy, water, transporation and defense markets. As part of its digital transformation strategy, it wanted to transform its procure-to-pay operation and upskill its finance team.

Challenge

Highly manual invoice processes

Solution

Integration of ABBYY Intelligent Document Processing platform

Results

400K invoices processed, times 9 minutes saved per invoice

Challenge

  • Highly manual invoice processes strained limited internal resources.
  • Daily process started with employees printing invoices as they came in.
  • They organized invoices into piles based on the person responsible for each vendor.
  • Back office systems needed to be updated to attract and retain top talent and meet customer demands to get the best results for the business.
  • Needed a robust Content Intelligence solution that integrated with and enhanced its existing RPA solution to deliver a higher level of accuracy when extracting unstructured data from invoices

Solution

  • ABBYY Intelligent Document Processing platform, FlexiCapture, integrated with UiPath to create a seamlessly automated processing system that captures line items on the face of invoices and delivers meaningful analytics.
  • FlexiCapture ingested the invoices as they arrive from the vendor, does the recognition with a high level of accuracy, and processes them straight through.
  • 80% of all invoices are processed by FlexiCapture without any human touch.

Value

  • ABBYY Content Intelligence skills transformed the finance department to be more agile and empower staff to focus on higher value tasks.
  • 400K invoices are processed through ABBYY FlexiCapture, speeding up processing time, and reducing employee and customer pain points.
  • 9-minute reduction in invoice processing time, generating significant cost savings for the company.
  • 80% straight through processing of invoices, with the introduction of ABBYY.
  • Employees are freed up to add value in ways they could never have imagined.
“We’re looking at processing 400,000 invoices through ABBYY FlexiCapture. 400,000 invoices, times 9 minutes saved (per invoice processed), is a huge, huge savings for the business, and it is generating an enormous capacity so that our people can add value.”
Steven Still, Head of Automation at Costain Group PLC