Transcepta's client had a severe AP problem. They were processing over 800,000 invoices annually and had 25,000 invoices waiting for corrections at any given time. Their temporary labor spend was increasing every month, with annual figures approaching $750,000.
We have put together a case study outlining how Transcepta's core AP products were able to save their client $1.5M annually and drastically reduce their invoice exception rate from 45% to under 15%.
Transcepta's client is one of the largest independent distributors of aftermarket truck and trailer parts in North America. And their AP department was completely overwhelmed. Due to the high volume of invoices they process a month, they were encountering extremely high rates of invoicing errors upon submittal by suppliers. Their invoice processing times were too lengthy and required a lot of costly manual labor. They needed smarter technology, automation, and invoice validation tools.
Learn how this large industrial automotive distributor pushed hard for automation of every facet of invoice processing, ultimately resulting in a shining example of how effectively Transcepta can deliver straight-through AP invoice processing.
In this case study, you will learn how Transcepta's client automated their AP invoice processing by:
- Connecting suppliers to a network that ensures invoice data accuracy
- Using AI technology via core Transcepta AP products: Invoice Inspect, Invoice Analyze, and PO CloudMatch™
- Taking the burden off clients via their supplier onboarding program
- Guiding clients on creating internal discipline on PO regulations
- Shifting all invoice processes to complete automation
To learn more about how Transcepta can transform AP departments that process high volumes of monthly invoices, with slow cycle times and high exception rates, please download our case study below.