Finance

Hours saved each month in accounts payable workflow

Navia
July 27, 2022

Saving time and creating capacity by evolving accounts payable workflows, far beyond manual processing.

Problem

Anyone working in the freight forwarding industry knows the challenges involved with manually processing shipments at scale and on time. In the case of accounts payable, many an hour is spent chasing missing data, agonizing over matching accruals and manually entering data into systems to ensure invoices are approved, payments are processed and our customers’ freight keeps moving.

Solution

Working with Raft has enabled automated processing of thousands of AP invoices every month, a basic, yet critical, component of our operations. Their platform’s ability to automatically extract over 95% of all key invoice data and perform straight-through-processing into Cargowise’s TMS, has resulted in a time saving of hundreas of hours per month. Beyond efficiency, the solution offers unparalleled operational visibility for our management team. The reporting and creditor dashboards help us optimize our payables process by providing detailed analysis on exceptions and vendor invoicing patterns.

Results

"At Navia, our emphasis on understanding the supply chain through technology led us to seek out a solution that could intelligently streamline our legacy AP workflow. The experience with Raft has been nothing short of revolutionary, enabling our people to process shipments for our customers faster, at scale and with more certainty."

  • The management dashboard for the extraction
  • Average AP time trials for the hours saved
  • If Navia has alternative or updated statistics they have collected, we can of course use those.

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