AD Group dramatically speeds-up purchase-to-pay processes and gains instant ROI from supplier rebates
AD Construction Group, a leading contractor providing building
refurbishment and maintenance services within the public sector, has
implemented an electronic invoice processing system from m-hance to
improve purchase-to-pay (P2P) productivity, cut costs and significantly
reduce paper consumption. m-hance's cloud-based eInvoicing solution will
deliver efficiency savings of £20,000 per year and an instant return on
investment by eliminating labour intensive manual processes.
AD Group's previous P2P processes involved invoices and purchase orders being photocopied, stamped and circulated by post which was extremely time-consuming and inefficient. Paper copies of financial documents had to be manually filed and retrieved from lever arch files which took up valuable storage space and increased the risk of invoices being mislaid.
Peter Conlan, Financial Director of The AD Construction Group, explains, "As part of our drive to improve business efficiency we required an integrated electronic invoicing solution to reduce the time and costs associated with manual data entry, filing, printing and processing paper documents. We selected m-hance's solution because it could seamlessly integrate into our existing Intellect accounting system and deliver us significant efficiency savings for a minimal initial outlay."
Using m-hance's eInvoicing solution tightly integrated into its Intellect financial management system, PDF invoices sent to a specific email address are detached via m-hance's cloud invoice service which automatically matches and validates the data from the PDF. The solution's intuitive verification rules convert the data into a standard electronic invoice format before uploading it into AD Group's finance system to be processed. The original PDF can be stored in either a web-based file store or document management system, providing quick and secure online access to the PDF images of the invoices, eliminating the need to store or handle paper.
Unlike other invoice processing solutions on the market that use optical character recognition (OCR) technology to interpret the image of a document, eInvoicing's cloud-based functionality uses the actual data embedded in the PDF. With eInvoicing there is no 'interpretation' involved and users can be reassured that the data capture is 100% accurate, helping to reduce supplier queries and disputes.
Peter comments, "By completely eliminating paper m-hance's technology has dramatically reduced the time it takes us to process invoices and will reduce our postage costs by two-thirds, delivering us combined savings of £20,000 per year. m-hance's system has also removed the potential for data entry errors and payment inaccuracies, whilst giving us better financial transparency as we now have instant and secure access to electronic invoices which will result in fewer queries."
Peter adds, "The cost for m-hance's solution is being covered by the additional rebates we have been able to negotiate from our suppliers as we can now pass on paper and postage savings to them. This has given us an instant return on our investment and has helped to improve our supplier relationships as we can ensure prompt payment of our invoices."