Worldwide Luxury Jewellery and Speciality Retailer Automates Vendor Invoice Process within One Week
Derby, UK — April 4, 2016 — Esker, a worldwide leader in document process automation solutions, enabled a world leading luxury jewellery retailer to automate their accounts payable process with Esker’s simple cloud based solution in only five days.
Esker’s Accounts Payable (AP) automation solution was chosen as a simple way to quickly and easily process vendor invoices through a cloud service. It has provided the jewellery retailer with the ability to better manage the AP process from the initial receipt of the invoice to the final archive.
Their traditional paper-based vendor invoice process was not providing the level of efficiency expected, along with a lack of visibility, long process turnaround times and processing discrepancies which were all barriers that ultimately impeded business profitability and continued progress.
The objective was to find a simple AP solution, that would help with expediting the approval process, without the requirement of a long drawn out and complex implementation involving a large amount of technical resource. This being mainly due to the limitations of having no direct control over the integration with their ERP systems.
Their main challenge in the AP process had traditionally been very labour intensive with many manual touch points needed throughout. The most prevalent aspect of this inefficient process was the approval and authorisation of the invoices. Each invoice was manually entered on to their accounts system before being printed off and physically walked around the premises for the final signed approval to be given.
With the AP solution implemented the invoice data could be inputted quicker with fewer errors and therefore required less time to process. All information is now instantly traceable with total visibility and a fully auditable process.
One of the major benefits has been the ease with which invoice approval can be managed through automation without having to physically pass the paper invoice to an approver. Monitoring and analytics for better management of the invoices has also enabled more calculated business decisions to be actioned.
Benefits Achieved at a Glance
- Fast response to invoice payment status calls
- Less time needed to process vendor invoices
- Automated invoice data entry to eliminate errors
- Traceable and auditable process
- Monitoring and analytics for better management
About Esker
Esker is a worldwide leader in cloud-based document process automation software. Organisations of all sizes use its shared platform of solutions, offered on-demand or on-premises, to automate accounts payable, order processing, accounts receivable, purchasing and more. Esker’s solutions are compatible with all geographic, regulatory and technology environments, helping over 11,000 companies around the world in their efforts to Quit Paper™.
Founded in 1985, Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France and U.S. headquarters in Madison, Wisconsin. In 2015 Esker generated 58.5 million euros in total sales revenue.
For more information on Esker and its solutions, visit www.esker.co.uk. Follow Esker on LinkedIn at Esker – Northern Europe, or on Twitter at @EskerNEurope and join the conversation on the Esker blog.