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Property - AP Automation

Bidwells - Head of Finance achieved more than 85% gains from his AP team and deployed them to business intelligence.

Situation 

A leading property consultant/developer managing an extensive portfolio of properties in growth areas and markets manually managed their invoices.  

Accounts Payable, specifically invoice processing, were required to sort, organise and streamline invoices, often re-entering data.

Xenith automated the ingestion process and seamlessly integrated Xenith’s invoice capture tool within the PropMan ERP system.

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The Solution

  • Added a designated scanner for hard copy/paper input

  • Automated all incoming invoices (now digital); Prepared, sorted and indexed and carried out OCR and data extraction to validate the vendor + payment details

    Validated invoices start the approval process;  Automated distribution to the business owner & Audit trail and alert reminders throughout 

  • Reduced inefficient manual procedures by 80%; Staff worked within a single AP system, and not switching between systems

  • Increased accuracy

  • Eliminated human errors

  • Accruals and cash flow visible on dashboards

  • Re-deployed AP resources to more value-add tasks

 

Resolution

Xenith replaced a cumbersome, wasteful manual process with a streamlined invoice process, automated and integrated into their existing ERP system.  The Head of Finance achieved an 80% gain from his AP team and deployed them to business intelligence.  Employee satisfaction increased in conjunction with meeting business objectives.

Outcomes

A property management firm receives greater visibility into its cash flow and accruals. It automates handling hundreds of monthly invoices, with straight-through processing to its ERP system. Xenith’s solution provides three-way matching to verify that invoices and amounts are accurate.  

Employee satisfaction increased as manual paper handling or tracking was no longer required, nor was re-keying data into systems. AP Managers see all invoices matched to the ERP system, regardless of source or delivery method (PDF, email, paper, etc.).

Duplicate invoices are identified immediately and flagged for attention. Bidwells' Head of Finance gained an 80% reduction in processing time for invoices.

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Lots of third-party scripts in play, mobile scores simillar across pages which removes focus from codebase - Tidy up resource hints(https://www.debugbear.com/resource-hint-validator?url=https%3A%2F%2Fwww.xenith.co.uk%2F) - Consolidate third-party scripts to tag manager?