Cora Case Study 2018-07-16T15:29:51+00:00

Romania Hypermarché – Closer to real-time accounting

– Accounts Payable automation case study –

Slow process, lost documents, no traceability – key factors in finding a solution for the automation of AP, as shown in our accounts payable automation case study

Cora – the retail brand under which Romania Hypermarché operates, has over 11 retail outlets in Romania, as well as online shopping. Romania Hypermarché is the subsidiary of the Louis Delhaize group.

Cora had already started its journey towards invoice processing through dematerialization, at the time DocProcess became a preferred supplier. Cora had put in place a process for posting, scanning and using OCR for their inbound invoices with a leading source-to-pay automation company, with offices around Europe. Still, the process was lengthy – involving scanning all invoices locally, in Romania, then sending them abroad for OCR processing. Frequently, documents were lost, image scanning was of poor quality and traceability was poor, which made treasury operations and reporting quite difficult.

Our accounts payable automation case study proves that an RPA automation solution complete with eInvoicing was a much more suitable solution than just paper dematerialization.

Typically, OCR technologies achieve about 20 to 30% straight-through processing rates due to a myriad of reasons: document quality, poor scanning results, insufficient checkpoints etc. Straight-through processing for invoices means that the invoice is issued, checked, approved and posted without any human intervention. This ensures that processes are sped up and data is available to all parties in near real-time.

A winning solution:

Market expertise, easy deployment, fast results

DocProcess was chosen as a preferred supplier for this project for several reasons:

  • speed of implementation: our platform, DocXchange, delivers RPA (Robotic Process Automation) in the cloud, requiring no costly or lengthy IT involvement for deployment.
  • ease of implementation: having a complete library of rules and financial documents formats, our robots can be configured in no time – requiring no business analysts or RPA developers to create the scripts and document the process.
  • network effects: the biggest hurdle in einvoicing is the supplier onboarding process. DocProcess already worked with more than 50% of Cora’s suppliers, which made the onboarding process much faster.

The journey:

1. Gradually digitize paper invoices

Audit and develop a process for paper invoice processing. DocProcess offers mailroom services to automate data capture from paper documents and integrate them into Cora’s information system. This step was essential in order to smooth the transition to einvoicing without disrupting current business flows.

2. Design the AP automation process flow

Preparation for the implementation of EDI technology. DocProcess worked to design a complete einvoice workflow configuring the robots to perform checks and validations according to the buyer’s business rules.

3. Onboard suppliers

Over 93% of suppliers have been integrated by DocProcess onboarding team within 18 months, delivering quick results on the invoice automation project.

4. Continous improvement

Invoice automation helped reduce the headcount dedicated to Accounts Payable and redirect them towards other, more value-added activities. DocProcess is now working on eorder implementation which helps suppliers eliminate the work of invoice creation. With eorder they can flip it directly to an invoice or to a dispatch advice.

The results of the accounts payable automation case study :

Closer to “real-time” accounting

Not having an automated Purchase-to-Pay process created serious issues for the finance department and the treasury management team. Financial closing and reporting was very slow, with inaccurate data: sometimes suppliers delivered the goods without invoicing them until a year or two years later. Lack of real time information also complicated legal reporting, leading to delays in VAT recouping and lengthy audit procedures. Lack of matching between invoices, orders and deliveries led to many outstanding invoices and difficult supplier relationships.

With the DocXchange platform – all these troubles were flipped at 180:

  • Invoices are received, validated and posted within minutes from issue, helping have a real-time view on cash situation and much more accurate cash-flow predictions.
  • Matching deliveries with invoices helps eliminate the situation of goods delivered but not invoiced.
  • Legal reporting became more accurate and VAT was reimbursed faster
  • Cash flow forecasts became more accurate

Why choose a cloud based RPA solution for your account payment solution

Accounts Payable automation with RPA delivers serious benefits, and fast: pay-back-time varies between 2 to 6 months depending on project complexity and the number of tasks automated.

Our enterprise grade financial automation platform, unlike on-premise solutions, is much easier to deploy and empowers business and finance professionals to own the project without IT support or infrastructure.

The platform integrates RPA with OCR, einvoicing, supplier portals and digital reminders in order to cover the full range of challenges that companies face when automating processes across thousands of parties. We are also adding machine learning capabilities to enhance the predictive capacity of our platform.

Ultimately, we want to help CFOs and financial departments to steer away from number crunching to analysis and true business support.

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Key Facts

DocProcess Client Name:

Industry:

Retail Outlets:

Invoices/year:

No of suppliers:

DocProcess services:

Romania Hypermarché

Food Retail

11, e-commerce

+ 500.000

+1.400

e-Invoice

Invoice Automation

e-Order

Fiscal Archive Management

Supplier Onboarding

Key Results

Project ROI:

Savings:

Electronic vs. paper invoices:

Correct invoices rate (fiscally and contractually):

within 18 months

150,000 euro

93% electronic invoices

100%

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