The client acquired a portfolio of 125 properties. Managing the large volume of vendor invoices in-house became unmanageable and led to substantial delays in processing payments. Vendors were angry, property managers were unable to get services in a timely manner, and credit holds were placed leading to business disruption.

CHALLENGES

Backlogs & Delays

Credit Holds

Business Disruptions

Damaged Relationships

SOLUTION

NTrust recommended REmaapᴬᴵ making it possible to unify all channels and automate the process leveraging:

– Multi-channel Invoice Capture received invoices from multiple source types, interfaced into REmaapᴬᴵ, and created a single, consistent process.

– Document Intelligence –All required information for both PO and non-PO invoices was extracted.

– Task Automation intervened when quality issues arose during capture and extraction phase – sent to client for review.

– ERP Integration provided smooth transfer of fully coded invoices and images into client ERP system.

BENEFITS

Timely, Streamlined Process

Greater Transparency

Strengthened Internal Controls

Improved Vendor Relations

REMAAP USE CASES DEPLOYED

AP Invoice Processing

RESULTS

Streamlined Vendor Invoicing
50% More Invoices Processed

Increased Operational Efficiency
Reduce Processing Time from 15 days to 7 days; 53% improvement

Accelerated Business Success
Achieved 90% Invoice Accuracy; eliminated errors & discrepancies

Improved Vendor Satisfaction
Added self-service portal for invoice tracking and seamless communication.

With the help of NTrust’s proprietary software and efficient workflow, client was able to streamline the vendor invoicing process. This resulted in processing efficiencies, enhanced cash management, on-time payment to vendors and greater vendor satisfaction.