Robertet Group is a French fragrance and flavor manufacturer that specializes in natural raw materials founded in 1850. Robertet was struggling with an inefficient manual accounts payable process. It was a time-consuming process and resulted in approval and reporting bottlenecks. In a typical month thousands of invoices were processed using cumbersome and manual data entry methods. This paper-based workflow required review and approval from various departments before the invoices got approved for payment. The manual process was rampant with human error causing further delay in processing.
- Invoices processed using labor-intensive methods
- Delayed approvals
- Delayed payments and inability to collect early discounts
Foveonics proved to be the perfect business partner by understanding Robertet’s accounts payable challenges so they could tailor a solution that would be easy to implement. Foveonics replaced paper-based filing of invoices with electronic filings. Everything was categorized, auto-named and auto-filed. The invoice images became full-text searchable allowing for easy access and processing. The solution created checks for data integrity and verification into key index fields. This greatly reduced the risk of lost, misplaced or forgotten invoices. Through this process invoices were categorized with metadata values including PO#, Invoice#, Amount and other indexing values. Then automated workflows notified approvers with alerts and emails with each approval being captured electronically. This virtually eliminated the manual processes typically performed by accounts payable staff.
- Electronic filings enabled easy categorization of invoices
- Invoices became full-text searchable thus easily accessible
- Automated workflows enabled fast approvals and payment
With Foveonics’ accounts payable invoicing solution, Robertet was able to reduce their paper-based process from nearly a month to a few days. The solution greatly reduced human error and cut the cost to process invoices by more than 50%. The automated process also enabled Robertet to earn early discounts and avoid late fees. Robertet’s bottom line improved significantly through achievement of significantly reduced labor costs.
- Greatly reduced human error in accounts payable process
- Costs to process invoices slashed by 50%
- Greatly lessened labor costs