Increasing Efficiency for Accounts Payable

Having identified the perfect acquisition target, this large healthcare organization knew the benefits would outweigh the challenges of the merger. Through the merger, they would increase their capabilities to improve health care, making it more effective and more affordable while improving the experience of receiving care for every one of its patients.

However, one challenge became immediately apparent. How could the organization absorb a 100% increase in accounts payable volume without adding staff?

CHALLENGES AND GOALS

As the organization examined its existing ERP solution, it was clear that it would not scale to meet the anticipated volume from the merger. Even the updated version proposed by their existing vendor would fall short.

Without a better solution, the entire company would either have to drastically change the dynamics of its AP process or would need more people. Neither was an attractive strategic option. With this in mind, they turned to Genus Technologies for a solution.

SOLUTION SELECTION

Unlike proposals that would have forced the organization to embrace entirely new software and processes, the Genus solution relied on collaboration between Genus, Tungsten Automation (formerly Kofax), and a third party to keep the organization’s existing ERP system in place.

With this goal in mind, Genus delivered an AP invoice processing solution that encompasses both inbound email invoices and scanned paper invoices. The solution extracts invoice data, performs purchase order line-item matching, and provides interfaces for general ledger and add-on cost coding. The solution initiates the AP workflow and feeds invoices to their existing ERP system, eliminating key-from-image almost entirely.

Genus delivered an AP invoice processing solution that encompasses both inbound email invoices and scanned paper invoices.

ACHIEVEMENTS AND BENEFITS

This customer achieved its goal of meeting the challenges associated with its successful merger, including each of the following results:

• Increased AP processing capacity by 100% volume without adding additional staff.

• Achieved a gain of 100% in AP process productivity when compared to the estimations associated with the updated system proposed by their existing ERP vendor.

• Reduced key-from-image by 75% resulting in significant savings of both time and expense.

• Increased visibility to process, meaning this customer now knows the volume of invoices in process as well as those waiting to go into the system.

SUMMARY

Faced with the challenge of absorbing an immense surge in AP volume following a strategic merger, this major healthcare organization turned to Genus Technologies for an innovative solution. Unlike conventional proposals involving extensive software overhauls, Genus, in collaboration with Tungsten Automation and a third party, implemented an improved AP invoice processing solution within the organization's existing ERP system.

This seamless solution extracts, matches, and processes invoice data, channeling it through the AP workflow. The results included doubling AP processing capacity, a 100% increase in process productivity, a 75% reduction in key-from-image workload, and a heightened process visibility. 

Through this solution, the healthcare organization overcame the merger’s operational hurdles and solidified its reputation as an example of efficient and agile healthcare administration.