Objectives
The business was looking to simplify the purchase order (PO), invoice and payment process. Previously, reams of paper invoices, spread across numerous locations, were needed. There was limited insight into costs, and the AP department was unable to tell suppliers when they were going to be paid.
Expenses were also resource intensive. They were being done manually, on spreadsheets, with receipts being sent through the mail. This was both inefficient, with receipts often getting lost, and very difficult to audit.
Bauer Media already used Proactis Invoice Capture so they took the decision to extend this solution to achieve straight-through invoice processing to payment and unlock immediate insights and visibility into expenditure.
How Proactis helps
Proactis provides a streamlined purchase order processing system and online expenses module. Using Invoice Capture, Bauer Media scans and imports electronic invoices but now, when invoices come in, PO numbers are quoted on the invoice, resulting in straight-through processing. And because Proactis integrates seamlessly with SAP, payment is quicker and more accurate.
If there is a mismatch or error, it is automatically work-flowed out to the relevant business though Proactis. Previously this was being done manually but the process is now not only quicker but has vastly improved auditability and traceability.
Bauer Media was also able to introduce a ‘no PO, no pay’ policy. If an invoice is received with no purchase order number, it is automatically returned to the supplier for validation. The robust process ensures the AP department knows how much is being spent, and what is planned. All spend data is up-to-date and accurate and provides visibility into the company’s total combined spend, including all AP transactions.
Benefits
Proactis has ensured that all invoices are visible, all costs are known, and all POs are raised up-front so the Finance team is able to evaluate all costs. There has been huge costs savings in the AP team as, due to the automation of the invoice process, AP staff are able to concentrate on more value-add tasks.
Cost and accrual management is now quick and robust with the AP department now knowing exactly what’s been spent. Bauer Media has implemented a self-billing process so the business can raise invoices on behalf of all freelancers and contributors. They are now all paid to terms, thanks to integration with SAP. Proactis provided the templates to automate the process and deliver vast time savings.
Bauer Media has also used Proactis to replace paper expenses processes with a fully electronic system. Now, people can electronically attach receipts to ensure quicker reimbursements and a happier workforce due to faster approvals. This has reduced the cost of expense processing.
Additionally, using Proactis has resulted in improved supplier relationships due to a vastly streamlined experience. Bauer Media now receives very few supplier queries (fewer phone calls).