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Arts, Entertainment and Sports / Accounts Payable/Invoice Processing

Fender Chooses ABBYY Digital Intelligence to Transform the Accounts Payable Process and Increase Employee Job Satisfaction

Customer Overview

Name Fender Musical Instruments Corporation
Headquarters Scottsdale, Arizona, USA
Industry Musical instruments (manufacturing, distribution, marketing)
Web

Partner Overview

Name Formtran
Headquarters Lake Forest, CA, USA
Web

Since 1946, Fender has revolutionized music and culture as one of the world’s leading musical instrument manufacturers, marketers, and distributors. Fender Musical Instruments Corporation (FMIC) – whose portfolio of brands includes Fender®, Squier®, Gretsch® guitars, Jackson®, EVH®, and Charvel® – follows a player-centric approach to crafting the highest quality instruments and digital experiences across genres. Since 2015, Fender’s digital arm has introduced a new ecosystem of products and interactive experiences to accompany players at every stage of their musical journey. This includes innovative apps and learning platforms designed to complement Fender guitars, amplifiers, effects pedals, accessories, and pro-audio gear, and inspire players through an immersive musical experience. FMIC is dedicated to unlocking the power of musical expression for all players, from beginners to history-making legends.

Their Accounts Payable team is based in Scottsdale, AZ, and processes global invoices. They chose ABBYY’s Digital Intelligence platform to expedite invoice processing automation. The whole team now benefits from optimized use of financial and intellectual capital.

Challenge

Staff manually moved vendor emails containing invoices into folders and then inputted them into SAP. Fender recognized the opportunity for a more efficient and accurate process.

Solution

ABBYY’s platform automates the entire invoicing process. It extracts PDFs, captures data from a variety of formats and languages, and extracts a diverse range of fields.

Results

Staff time is now redirected to activities that optimize operations and strengthen the customer experience.

Challenge

  • Staff manually moved vendor emails containing invoices into folders and then inputted them into SAP. Fender recognized the opportunity for a more efficient and accurate process.
  • More than 2,000 vendors sent invoices in different layouts and languages. The solution had to be flexible.
  • Needed seamless integration with UiPath and SAP financial software.

Solution

  • ABBYY’s platform automates the entire invoicing process. It extracts PDFs, captures data from a variety of formats and languages, and extracts a diverse range of fields.
  • After data capture, classification extraction and analysis, the data goes through a verification station where close to 80% of documents pass through without human touch. Invoices that do not are difficult for even a human processor to understand.
  • Documents are then passed to a UiPath robot so that the process flows seamlessly to SAP.

Value

  • Staff time is now redirected to activities that optimize operations and strengthen the customer experience.
  • Improved efficiency and accuracy. Reduction in time to process vendor invoices.
  • Better use of financial and staff resources.
“We were looking for a solution that allowed us to not only reduce the time needed to process vendor invoices but one that improved our payment flow. Luckily, ABBYY’s unique platform has an amazing ability to learn and pick out the right data from our invoices. The efficiency of ABBYY has allowed our team to work on other projects to keep Accounts Payable as current as the needs of our business change.”
Michele Sease, Finance Manager, Fender Musical Instruments Corporation