Today organisations must also innovate business processes in order to sustain competitive advantage.
The Business
The Compass Group is the world’s largest food service and hospitality organisation. In Australia & New Zealand it operates over 500 sites nationally, employs 10,000 staff and has a world-wide annual turnover of $AUD21 billion.
Accounts Payable handles 700,000 invoices p.a but, before appointing Converga, the process was cumbersome. Invoice approvals did not allow for 3-way matching, and had to be distributed to up to 500 sites where they were re-entered into a locally run order management system. Inevitably, this caused delays and increased costs significantly.
The Challenge
To substantially reduce the costs associated with the Accounts Payable function, support faster payment cycles (which would improve supplier relations) and to allow for the suppliers’ own transition to electronic invoicing.
The Solution
Converga introduced a secure Paperless Accounts Payable solution. Hard copy and electronic invoices are redirected to one of Converga’s Technology Centres where they are scanned and or data is extracted to suit the Compass Group’s internal processes. Validated data is then sent for approval through Converga’s automated workflow to the individual Site Managers. Depending on the outcome, email alerts are sent to suppliers asking for further information or approved invoices are passed straight to the ERP system for payment.
The Outcome
The processing cycle improved dramatically. The Converga Paperless Accounts Payable system allows for real time enquiries regarding unapproved invoices and clearly identifies any bottlenecks with suppliers or at the individual sites. The system has also resulted in a significant number of suppliers changing to electronic invoicing and up to 80% of all invoices should be electronically processed by the end of this year.
Download Case Study (PDF - 253kb)
Contact us for more information:
Phone: 1300 557 672
Email: hello@converga.com.au
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- Secure Paperless Accounts Payable solution implemented Reduction of AP costs by 30%
- 700,000 invoices processed
per annum - Faster payment cycles for
discounting benefits - Dramatically improved
supplier relations - Total management visibility over the entire AP process
- 60% of invoices converted to
electronic within 2 years