Finance

Reduced accounts payable invoice processing time

Scarbrough
July 27, 2022

Enabled capacity to prioritise customer service resolutions instead of data entry.

Problem

The team struggled to keep up with their daily accounts payable invoice processing burden. The amount was actually growing faster than their revenues. Invoicing processing became an increasing cost drag, but most importantly, payment delays led to friction in relationships with service providers and even worse, impacted customer service to their shippers.

Solution

Raft delivered full AP automation to the finance teams. This allowed the teams to handle more shipments without scaling their finance headcount, but by providing more visibility into the finance process 1) with the Raft dashboard and 2) by embedding into the client's general operations, the finance teams were empowered to add strategic value. Our motto: Finance should enable faster freight, not slow it down.

Results

The average processing time per agent per invoice, was reduced by Raft's technology from 4 minutes to 1 minute.


"We gain so much value as a business when we give our staff more time to share their ideas, skills and experience. Rather than assigning mundane administrative and data entry tasks, we can hand the workload over to capable AI. This means that our team members can channel their energy toward coming up with new ways to provide value for clients, all while meeting the commercial goals of the business."

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