Industry/Sector:
Oil and GasSolution:
Robotic Process Automation (RPA)Client scale:
174,000 BOEPD average gross production (FY2020)Products:
Robotic Process Automation (RPA)Timeline:
2 monthsSolution partner:
SAP iRPACost reduction:
80% cost reduction in invoice managementTop Service:
Services and featuresTop benefits:
Automation, OCR, exception managementThe client partnered with Crave InfoTech to fully automate their invoicing processes.
One of the largest oil and gas companies in the fastest oil-consuming market, the client, wanted to instill efficiency and effectiveness within their invoice and exception management.
Challenge
The client faced delays and inefficiencies while handling invoices, audits, and exceptions. The employees spend many hours processing a single invoice.
- Hundreds of invoices parked in emails
- Diverse invoice formats - need for standardization
- Manual invoice logging and processing
- Resource and time cost of manual invoice logging
- High error probability within invoice processing
Solution
Within a few fortnights, the client was able to streamline all their incoming invoices using Crave’s Robotic Process Automation (RPA), extended over SAP’s Intelligent Robotic Process Automation (IRPA).
Some high-points from the solution were:
- Faster Time to Value with Quick Deployment
- Automatic invoice extraction from emails
- Optical Character Recognition (OCR) for accurate document reading
- Standardization in Invoice Formatting and Process
- Fast Validation and Approvals
- Real-time Exception Management
- Security and privacy
Results
Here are some direct impact metrics for the client.
- < 1 min invoice processing
- 95% reduction in total processing time
- 50% productivity boost with automation
- 80% invoice extraction, validation, and posting cost reduction
- $25,000/year saved through operational efficiencies
Industry ideas and winnings
The automation with RPA helped us do 20 mins of work in 1 min, and that too, concurrently handling hundreds of invoices. It boosted overall employee and vendor satisfaction with an error-free and fast invoicing and audit process.
Anonymous
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