Case Study

Transitioning to automated invoice processing transforms the accounts payable function

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30%

Cost saving

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15K

Invoices per annum

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99.9%

Accuracy

Background

Northumbria University is a challenger higher education institution focused on taking on and transforming tomorrow through its 2025 vision; becoming research-rich and attaining academic excellence.

The challenge

With change and innovation at the core of Northumbria University’s strategy, the organisation was ready for a new solution within its finance function. After trying to implement a workbench AP (accounts payable) solution on several occasions unsuccessfully, they appointed Parseq as partner of choice.

With change and innovation at the core of Northumbria University’s strategy, the organisation was ready for a new solution within its finance function. After trying to implement a workbench AP (accounts payable) solution on several occasions unsuccessfully, they appointed Parseq as partner of choice.

The solution
  • Up front technical consultancy and solution development to deliver tailored automated invoice processing for Northumbria University
  • Scoping, on-boarding, project management, implementation and account management to enable a seamless transition and ongoing service delivery
  • End-to-end solution including data capture, encoding and validation underpinned by OCR (optical character recognition) technology and machine learning capabilities
  • Capturing multiple identified fields across 15,000 invoices per annum
  • Built custom imports to handle receipt of bespoke master data for validation which contains separate vendor and purchase order files
  • Exception handling includes the production of invoice images for all invoices that have produced an exception
  • Production of output files completely compatible with Northumbria’s AP workbench; Coupa

Successes

Following a successful two year contact, Northumbria University has initiated a contract extension for a further year. Critical to this is the consistently over achievement of our 99% SLA target, reaching 99.9% accuracy levels and therefore exceptional quality standards. The university also benefits from at least 30% reduction in processing costs compared to their in-house team as a result of our in-built automation and opportunity for eciency gains.

  Click here to see our invoice processing services

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