A large American trucking and transportation services provider
The client lacked the data to drive improvements, identify inefficiencies, and reduce cost for its accounts payable processes.
EXL applied operations consulting and analytics in a review of the client’s processes. Through a combination of analytics examining spend, market research and benchmarking, a set of recommended solutions and cost/benefit analyses were generated.
Operational efficiency was improved by the implementation of OCR based invoice entry and automated point notifications. Lean Six Sigma was applied to streamline processes.
- Working Capital Impact from reducing
- Invoicing Error $1.1mm
- Exception Reduction - Aging
- Productivity Improvement 42%
The cost and efficiency of overall operations were improved through various interventions, resulting in accurate and on-time payments, fewer contract exceptions and a higher percentage of OCR invoices.