Other | Accounts Payable Automation
Fender Chooses ABBYY Intelligent Automation to Transform the Accounts Payable Process and Increase Employee Job Satisfaction
Fender Chooses ABBYY Intelligent Automation to Transform the Accounts Payable Process and Increase Employee Job Satisfaction
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 intelligent document processing 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.
- 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.
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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.
