Go Bus is one of New Zealand’s fastest growing passenger transport businesses. It has experienced year on year compounding growth of over 20% since it started 10 years ago. Fuji Xerox was engaged to streamline and automate their Accounts Payable (AP) process. The result? The monthly invoice reconciliation was reduced from 10 to 2 days through workflow automation.
“The biggest problem with the whole AP process was the lack of visibility – there was no truly reliable way to track outstanding invoices. ”
Just two people were responsible for all Go Bus Accounts Payable (AP) in 2013 when Go Bus first started looking at a better way to do things.
One full time and a part time accounts payable team were processing 24,000 invoices annually which had grown to a massive 36,000 a year ago. Each invoice was scanned and emailed to the correct branch for approval. After printing out the invoice, approving it and signing, someone at the branch then scanned the copy and sent it back to Head Office. The AP team printed out the signed invoice, filed it, and finally entered the data into the ERP system.
Invoices were lost, often they were not actioned on time, and a significant amount of time was spent chasing approval from individual branches.
To meet the Go Bus business objectives, Fuji Xerox combined a document capture solution, with the powerful workflow functionality of Fuji Xerox DocuShare – their web-based content management and collaboration platform. The end-to-end AP solution accurately captures and extracts data from incoming hard or soft copy invoices.
An automatic validation process compares invoices against their purchase orders, following a set of built-in business rules. If incorrect, an invoice query is routed directly to the appropriate branch administrator, along with a link to the document. The data is then uploaded to the Go Bus financial system and enters the business workflow. The system tracks the invoice query through to resolution, so it never falls through the cracks.
To learn how Go Bus mastered Accounts Payable Automation, click here.