Low-touch Vendor Invoice Processing

A leading provider of "on-demand" private aviation services was facing critical inefficiencies in its invoicing process, which posed a significant risk to its financial operations and overall productivity. Managing a diverse fleet with over 100 distinct invoicing templates and numerous exceptions resulted in inconsistencies throughout the invoicing process. These challenges hindered the accuracy of invoicing and resulted in substantial delays in monthly reporting, negatively impacting cash flow. The complexities of the invoicing process drained resources, both in terms of manpower and time, making it a pressing concern for sustainable business operations.

To address the challenges effectively, Nexdigm adopted a structured approach tailored to the client's specific needs:

• Issue Identification and Rule Development
• Solution Development and Risk Mitigation
• Data Analysis and Standardization
• Scalable Smart Rule Engine

Following the implementation of Nexdigm's solution, the client experienced a notable impact across various aspects of their operations:

• The overall payable process was simplified, resulting in 73 % reduction in time, reducing complexities, and enhancing ease of operation for the client.
• The scalable process enabled integrating any new vendors faster in the new automated model.
• The implementation resulted in substantial FTE savings, freeing up resources for other strategic initiatives.
• Accuracy levels were significantly enhanced, reducing errors and ensuring greater reliability in financial operations.