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Other | Accounts Payable Automation
ABBYY FlexiCapture for Invoices Transforms Sportina Group’s Invoice Processing
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Other | Accounts Payable Automation
Sportina Group is a fashion apparel company and trusted franchise representing more than 50 global brands in more than 340 stores across Southeast Europe. Located in major cities throughout the region, its stores cater to the fashion needs of customers with over 6,500 square feet (2,000 square meters) of selling floor space in each unit.
Sportina faced many challenges in managing its invoices with over 250,000 invoices received annually and processed manually and/or through EDI integration with suppliers. The process took significant time that resulted in a high margin for error due to human interaction and manual data entry into its ERP system.
Sportina’s internal IT department reviewed several products available on the market to automate and increase the productivity of its accounts receivable (AR) processes. After reviewing ABBYY FlexiCapture for Invoices, Sportina identified a local ABBYY partner, Konica Minolta d.o.o. in Ljubljana, Slovenia, who joined forces with Soluma d.o.o., a full service data processing and preparation provider that also provides cloud services based on ABBYY FlexiCapture.
Sportina selected ABBYY FlexiCapture for Invoices as the best option for optimizing its invoice processing, and the expertise from both Konica Minolta and Soluma addressed its AR needs. The implementation was swift and executed professionally within months. Additionally, Soluma implemented a document management system that served as an input for all Sportina documents.
Sportina’s new invoice processing system now includes the components necessary to improve efficiencies: a document management system (DMS) keeps all documents with metadata taken from ABBYY FlexiCapture for Invoices’ optical character recognition (OCR) capability; and an enterprise resource planning (ERP) solution that contains bookkeeping functionalities for invoice processing going forward. All documents are classified within the DMS and invoices are passed through the OCR. The recognition results are then returned to the DMS where Sportina’s staff reviews and sends them through several steps of confirmation before finally sent to the ERP system.
Sportina’s previous invoice process took 8 to 15 business days to manually confirm an invoice and enter data into its ERP system. After deploying its new system with a DMS and ABBYY FlexiCapture for Invoices, the apparel company is now able to classify documents without human interference and processes invoices within 5 to 7 business days. Data is extracted from documents with high efficiency and passed to the DMS automatically, thus eliminating any manual entry. Sportina was able to significantly reduce costs and redirect resources to other business critical operations.
In the near future, Sportina Group plans to use ABBYY products for full text OCR to support contract maintenance processing, which would allow them to use full text search on scanned documents.
