Enhancing Client Value Through AP Automation: A Strategic Partnership

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11Apr

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A leading provider of document management and workflow automation solutions specializes in helping organizations streamline business processes through intelligent information management. They excelled at automating basic document management processes, but they wanted to expand their service offerings with a more custom-tailored approach to automating clients’ Accounts Payable (AP) workflows.

The Challenge

High Volume of Transactions
Several clients struggled to manage the high number of transactions they dealt with every month. Documenting these transactions manually took 7-10 days on average, which created significant backlogs and ate up precious staff time and effort.
Inconsistent Data Accuracy
Human error during manual data entry processes led to a 15% average error rate. These inaccuracies led to spending even more time and effort to correct misinputs to avoid duplicate payments and over/underpayments.
Workflow Bottlenecks
Clients' AP processes involved multiple approval steps and departmental handoffs, creating delays at critical stages. This made the payment approval process take 5 days on average, needlessly delaying AP management.
Lack of Integration
Clients’ existing document management systems didn’t provide AP-specific automation or support, so many clients' AP processes remained disconnected from their document management platform.

The Solution

Step 1: Process Assessment & Customization

The joint implementation approach began with a detailed analysis of client requirements and comprehensive workflow mapping to identify pain points, develop an AP solution template, and create integration pathways between both partner platforms.

Step 2: System Integration & Workflow Optimization

The partnership focused on creating a connected ecosystem leveraging both companies’ strengths by integrating software tools, enabling automated invoice capture and data extraction using iTech’s specialized ML-paired OCR, building standardized approval workflows, and establishing three-way matching between invoices, purchase orders, and receiving documents.

Step 3: Staff Collaboration & Operational Support

The solution included both technology and specialized operational support, including a dedicated AP support team, comprehensive staff training programs, extended support hours, and collaborative tools for real-time communication between partner teams.

Step 4: Continuous Monitoring & Performance Enhancement

The partnership included mechanisms for ongoing service improvement, including weekly accuracy audits, customized reporting dashboards, quarterly business reviews, and thorough process improvement documentation.

The Results

Expanded Service Portfolio	Increased Revenue	Enhanced Client Retention
Successfully added high-value AP automation to their solution offerings	Generated 22% revenue growth through the new service line	Improved client satisfaction and reduced churn by 15%.
80% Reduction in Manual AP Processing Efforts	40% Faster Payment Processing	Significant Improvement in Financial Control
Client finance teams reduced the time dedicated to transaction processing from 65% to just 15%, and month-end close process were accelerated by an average of 3 business days.	Average time to process invoices reduced from 7-10 days to less than 3 days, exception handling time decreased by 65%, and automated matching increased initial hit rate from 60% to 90%.	Early payment discount capture increased by 30%. Payment accuracy improved to 99.5%. Cash flow forecasting accuracy improved by 25% through better visibility into payment obligations.