Shree Cement, one of India’s leading cement manufacturers, is renowned for its innovative approach to operational efficiency. With a large supplier base and a high volume of invoices processed monthly, the company faced challenges in streamlining its accounts payable processes. To address these, Shree Cement partnered with Glorious Insight, a trusted technology solutions provider, to implement an automated invoice processing solution.
Hours delivered back to the business
SOX compliance in Settlement process automation
Success rate of bot case completion
For functional release of OBT, RTS and OGS
The Challenge
Manual Effort: Invoice processing involved significant manual intervention, resulting in errors and delays.
Scalability: With growing operations, the existing system struggled to handle the increasing volume of invoices.
Visibility and Tracking: Lack of real-time tracking made it difficult to monitor invoice processing status and identify bottlenecks.
Compliance: Ensuring adherence to tax regulations and maintaining audit trails was cumbersome.
Solution Delivered
Glorious Insight implemented a comprehensive Invoice Process Automation (IPA) solution leveraging cutting-edge technologies. The solution included deploying advanced Optical Character Recognition (OCR) to digitize invoices from various formats, automating data extraction, and reducing manual errors. Robotic Process Automation (RPA) was integrated to validate invoice details against purchase orders and goods receipt notes, streamlining approval workflows by routing invoices to stakeholders based on business rules. The solution was seamlessly integrated with Shree Cement’s existing SAP ERP system, enabling real-time synchronization of financial data and automating the posting of approved invoices directly into the ERP. To ensure regulatory compliance, the system automated tax validations and generated audit-ready reports. AI-driven analytics provided actionable insights into trends, processing times, and opportunities for process improvements, while dashboards offered real-time visibility into invoice statuses, exception handling, and key metrics. This holistic approach addressed Shree Cement’s challenges, delivering a scalable, efficient, and accurate invoice processing system.
The Results
- Improved efficiency: Reduced invoice processing times significantly.
- Cost savings: Lowered operational and processing costs.
- Enhanced accuracy: Minimized errors in invoice handling.
- Scalability enabled: Managed growing invoice volumes seamlessly.
- Regulatory compliance: Automated tax validations and reports.
- Real-time insights: Provided actionable and predictive analytics.
