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BPO and Shared Services | Accounts Payable Automation
Faster, Streamlined, Automated Invoice Processing with Engeneum and ABBYY
Faster, Streamlined, Automated Invoice Processing with Engeneum and ABBYY
BPO and Shared Services | Accounts Payable Automation
Leveraging ABBYY and Engeneum’s solution, Craig International significantly improved efficiency in its accounts payable processes at a time when resilience mattered most—the COVID pandemic.
Challenge
- Craig International provides a complete procurement trading house solution to the oil and gas industry. It needed to deploy a consistent data capture, validation, and verification process for all supplier invoices in its worldwide operations.
- Invoices were being manually processed locally in nine finance locations, creating processing delays, inconsistent rules, and input errors.
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Solution
- The Engeneum Invoice Processing solution utilizing ABBYY intelligent document processing (IDP) was deployed globally, supporting multiple currencies and languages.
- Over 100 users now begin invoice processing with ABBYY software to capture the header and line level details. Invoices are then checked for validity, and supplier and purchase order information are verified.
- The invoice and the data are then loaded into the Engeneum solution for query processing and approval, and ultimately archiving for record purposes
Value
- Significantly improved efficiency in accounts payable processing.
- Reduced errors with consistent checking and validation.
- Removed the need to store paper copies of invoices with a digital archive.
"I am very proud of
how the team has
worked closely with
Craig International to
implement this efficient,
streamlined solution.”
