Leading Oil and Gas company streamlines invoicing management

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