To facilitate significant growth, Physicians Endoscopy needed to eliminate the manual steps involved in processing invoices including eliminating data entry, making GL coding easier, and streamlining approvals. PE saw an immediate increase in productivity and reduction in errors resulting in lower processing costs, and have used the solution in production for over 3 years.
- Reduced Invoice Processing Costs by up to 80%
- Increased Productivity and Reduced Errors
- Simplified and Accelerated Invoice Approval Process
- Increased Visibility into the AP Process and Cash Flow
- Integrated with Multiple Instances of Sage ERP
- Archived Invoice Images to MS SharePoint
Physicians Endoscopy was dissatisfied with their existing Accounts Payable solution that lacked automated data extraction and easy to use invoice approvals.
Their existing invoice processing system was unable to handle the 35 individual instances of the ERP, and did not integrate in real time.
As such it was very difficult for them to bring new centers onto the system quickly and efficiently.
Optima’s transcendAP solution leverages industry-leading capture and business process management via Kofax TotalAgility. This automatically and intelligently extracts invoice data regardless of source or format.
Once the data has been validated, real-time integration with all instances of their Sage ERP allowed verification of supplier information and General Ledger coding.
Invoices then are routed to accountants for approval. Based on invoice values and business unit, invoices are escalated to the appropriate manager or CFO as required.
Accountants are able to perform a final review prior to posting to the ERP for payment processing.
Physicians Endoscopy was able to implement the Optima transcendAP solution as a replacement to their existing solution within 3 months, and saw a drastic reduction in processing costs almost immediately. This allowed them to recognize a return on investment in approximately 6 months.
The flexibility of the transcendAP solution along with its ability to integrate with multiple instances of their ERP in real time enabled Physicians Endoscopy to easily onboard newly acquired centers onto the system. This helped Physicians Endoscopy to grow from 35 centers to over 60 centers today.
transcendAP Solution has been used in full production for over three years, and this success has them considering additional business processes to automate leveraging the same Kofax platform. Other potential processes include Employee Onboarding and Capital Expense Approval.