- Design & Construction
Transforming Finance Operations: A Strategic Overhaul for a Global Construction & Design Leader
Challenge
A leading global Construction & Design firm, operating in 26 countries faced inefficiencies in invoice processing within the finance department. Manual data entry for 6,500+ monthly invoices resulted in high costs and ERP data inaccuracies.
Solution
In order to optimize the financial processes within the company, STATXO automated the entire process using OCR technology from Azure AI Services. A dashboard was developed to track KPIs, including invoices without Purchase Order (PO), exceptions, payment mismatches, and trend analysis.
Testimonial
“STATXO’s solution was a game-changer. Our invoicing process is now lightning-fast, thanks to OCR technology. We’ve achieved exceptional data accuracy, a significant leap from before. This solution not only saved us time but also enhanced operational efficiency. Outstanding results!”- Chief Operating Officer
Overview
Read how STATXO helped a leading global Construction & Design firm to automate their invoice process using OCR technology and eliminating manual data entry.
Impact
The solution transformed the invoicing process by achieving 5-6 times faster speed with OCR technology & eliminating manual data entry. It also boosted data accuracy from ~85% to ~95%, saving over ~180 to 200 monthly hours and freeing 1 FTE bandwidth.
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