Driving AP performance with cloud-based accounts payable automation…
Background
European Motor Distributors (EMD) is a subsidiary of Giltrap Group Holdings, a large automotive group in New Zealand. EMD import and distribute a range of vehicles from brands such as Audi, Porsche, Volkswagen, Skoda, and SEAT.
Consistent growth over the recent years created a challenging workload for the company’s accounts payable (AP) team.
EMD relied heavily on paper-driven processes. This included manually entering data from the 3,500 invoices received each month in PDF format, into EMD’s financial software. On receiving the documents, the AP department printed out and circulated each invoice for approval. The approval process included verification of the invoice amount and coding. Once approved, invoices were handed back to the AP team for data entry and processing.
This reliance on manual processes and the flow of paper around the organisation created significant challenges such as double-payments and lost or misplaced invoices. There was also an alarming lack of visibility of the AP operations and processes.
EMD knew that their AP process was too slow for a progressive business and were concerned that they had no means to quantify the full extent of the problems.
Read more about this case study: https://www.esker.com.au/sites/default/files/resources_files/esker-accounts-payable-case-study-european-motor-distributors-au.pdf