P&O Ferrymasters improves cash flow and reduces invoice processing costs by over 35%

Profile

Sector
Transport & Logistics

No. of invoices received
192,000 p.a

Customer since
2006

How Proactis helps

  • Supported the centralisation of the AP function and optimised invoice process efficiency.
  • Established automated AP best practices and controls.
  • Provided a single solution for PDF, email and XML documents that integrates seamlessly to Unit4 Financials.

Benefits

  • 35% decrease in processing costs whilst increasing control and visibility.
  • Improved transparency and streamlined processes.
  • Achieved process transformation whilst cutting costs and complexity.
The solution coupled with the process-based approach from Proactis has seen us drive down our debtor days whilst reducing our invoice processing costs by over 35%. Proactis was genuinely interested in making a difference and working in partnership with us.

IT Director, P&O Ferrymasters
 
 

Background

P&O Ferrymasters was formed in 1953 and is now one of the leading European providers of tailor-made transportation and logistics services, specialising in the design and delivery of innovative and flexible supply chain solutions.

Providing services of the highest quality at the lowest operational cost is pivotal in a competitive logistics environment, so the company looked to transform and automate the Finance department.

The company recognised that it was receiving an ever-increasing number of purchase invoices across multiple sites; with process inefficiencies and labour costs continuously increasing due to the need to have more people processing the invoices. At the same time, the need to evidence signed Proof of Delivery (POD) was pivotal to avoid unnecessary delays in receiving payment, thereby improving cash flow.
 
P&O Ferrymasters reduces invoice processing costs by over 35%
 

How Proactis helps

Proactis supported the centralisation of the AP function and optimisation of the invoice process by establishing automated AP best practices and controls.

The single solution for handling paper, PDF, fax, email and XML documents now streamlines the receipt of information into the business. The scanning solution included advanced “intelligent” invoice data capture technologies that allows the solution to automatically extract invoice information at the point of scanning. In addition it included seamless integration with their Unit4 Financials solution.

POD documents are also being processed more quickly and efficiently using these technologies, to provide instant visibility of documents throughout the business.
 
 

Benefits

All invoices are now processed at a centrally located AP function, substantially increasing efficiencies, productivity and timeliness. 192,000 per annum are being processed electronically.

Since implementing Proactis, the organisation has consistently increased invoice processing efficiency, resulting in associated costs decreasing by 35%.

Greater internal controls have been achieved through the centralisation of processes and automation. And the organisation has established a sustainable and repeatable approach to managing spend and processing of invoices.
 
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