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BPO and Shared Services | Document Processing
Costain Transforms Its Finance Department Using ABBYY Intelligent Document Processing
Costain Transforms Its Finance Department Using ABBYY Intelligent Document Processing
BPO and Shared Services | Document Processing
Costain is a leading smart infrastructure solutions company serving the UK’s energy, water, transportation and defense markets. As part of its digital transformation strategy, it wanted to transform its procure-to-pay operation and upskill its finance team.
Challenge
- Highly manual invoice processes strained limited internal resources.
- Daily process started with employees printing invoices as they came in.
- They organized invoices into piles based on the person responsible for each vendor.
- Back office systems needed to be updated to attract and retain top talent and meet customer demands to get the best results for the business.
- Needed a robust Intelligent Document Processing (IDP) solution that integrated with and enhanced its existing RPA solution to deliver a higher level of accuracy when extracting unstructured data from invoices.
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Solution
- ABBYY's Intelligent Document Processing platform, FlexiCapture, integrated with UiPath to create a seamlessly automated processing system that captures line items on the face of invoices and delivers meaningful analytics.
- FlexiCapture ingested the invoices as they arrive from the vendor, does the recognition with a high level of accuracy, and processes them straight through.
- 80% of all invoices are processed by FlexiCapture without any human touch.
Value
- ABBYY's Intelligent Document Processing skills transformed the finance department to be more agile and empower staff to focus on higher value tasks.
- 400K invoices are processed through ABBYY FlexiCapture, speeding up processing time, and reducing employee and customer pain points.
- 9-minute reduction in invoice processing time, generating significant cost savings for the company.
- 80% straight through processing of invoices, with the introduction of ABBYY.
- Employees are freed up to add value in ways they could never have imagined.
“We’re looking at processing 400,000 invoices through ABBYY FlexiCapture. 400,000 invoices, times 9 minutes saved (per invoice processed), is a huge, huge savings for the business, and it is generating an enormous capacity so that our people can add value.”
