Technology-based Solution to Centralize the Accounts Payable function

The client was in need of a centralized, optimized Accounts Payable function across its 50 retail outlets in the USA. To address a decline in the bottom-line, the client undertook strategic restructuring of key processes, in an effort to reduce costs. The project had three key requirements, which included centralized processes within the Accounts Payable function, the development and deployment of a Document Management Solution (DMS), and a phased implementation of a remote solution.

Nexidgm’s solution design team, comprising of technology architects and accounting professionals (including CPAs) developed a technology-enabled solution which resulted in an 80% cost reduction in the Payables management process. The implementation of the remote solution helped create a speedy transition, thereby reducing the timeline by over 35%. To minimize operation disruption, we incorporated a multi-phased approach.

In addition, the Document Management Solution facilitated storing and managing invoices and provided real-time status updates on pending invoices. We also implemented a system for query management between the client and Nexdigm, while implementing improved process controls.