Situation:
Accounts Payable Customer
The company was processing and paying all their invoices manually. Had a reputation for slow and inefficient processing resulting in long invoice cycle times and late payments.
Sales Volume: $150 million
Employees: 300
Customers: 4,000
Customer of Bucar Group: 2 years
Solution:
Bucar managed all paper invoices. Suppliers submitted invoices electronically. Company only had to manage exceptions.
Result:
The solution made a material impact on invoice processing cycle time (20 steps in 45 days to 5 steps in 7 days). In addition, we recognized 50% savings on invoice processing costs, reduced late payments and penalties, and triggered the reduction of three full-time headcount.
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