Project overview and objectives
This commercial food services equipment company wanted to identify technologies that could generate efficiencies in source-to-pay processes as part of an overall finance transformation and process improvement initiative. The team was battling:
- Paper invoice processing
- Lack of workflow
- Manual exceptions management
- Limited visibility to invoice status and KPIs
- Low paid on time percentage
What we did
The first step was an invoice-to-pay system selection initiative. We scored potential solutions based on market position, system landscape, fit/gap to business requirements, cost of ownership, and implementation methodology. The organization ultimately selected the Coupa Business Spend Management Platform as the best fit-for-purpose tool given the team’s needs.
As part of the Coupa platform implementation, we also:
- Gathered business requirements across all invoice-to-pay processes
- Designed the future state Coupa-enabled AP way of working, including needed touch points and integrations
- Configured a Coupa sandbox and all applicable integrations based on key design decisions
- Unit-tested all requirements
- Facilitated user acceptance testing
- Configured production environment
- Provided post-implementation hypercare support
We helped this organization realize its going-in objectives through the Coupa platform. This included:
- A shift to 99% of invoices being keyed automatically
- End-to-end automation of more than 50% of applicable invoices
- Paid on time percentage improvement of more than 100%
While engaged in this transformation, we also performed a parallel supplier analysis. This identified targeted actions for 50 suppliers and 5 key process areas. These actions reduced manual activity by an additional 50%.
Are you curious how you can uncover similar benefits through a Coupa implementation? Let’s talk.