T.D. Williamson (TDW) is the most trusted manufacturing and services organization serving the pipeline industry worldwide for over 100 years. TDW’s global portfolio of products and services includes advanced isolation, integrated pigging, and integrity assessment solutions for both onshore and offshore applications. TDW has partnered in the oil and gas industry to deliver innovative solutions that maximize uptime, improve throughput, avoid a shutdown and minimize risk for customers worldwide.
TDW’s accounting team processes and manages approximately 50,000-60,000 invoices per year received at 7 different email inboxes associated with respective business units, but much of its AP processes were manual. Each invoice had to be manually coded and routed for approval. There have been instances where multiple copies of the same invoice(s) received in different inboxes resulting in possibilities of duplicate payment. Additionally, each mailbox has multiple approvers including the AP team and business team resulting in a long invoice approval cycle.
Moreover, manual validation of invoice information with the POs from 5000+ vendors worldwide is a time-consuming process. TDW needed a faster and more accurate way to match invoice data against PO and vendor information stored in ServiceNow Vendor Management Application.
Rather than bringing in different technology, TDW wanted to rationalize existing applications and expand the ServiceNow platform capabilities with the resources’ expertise that they have. Ultimately, TDW chose Aavenir because it was built on ServiceNow, which is a core foundational platform for TDW. Aavenir Invoiceflow quickly automated the AP process, leveraging AI for invoice coding, categorization, approver selection, and sending approved invoices for payment.
Invoice Receipt and Automated Invoice Coding
After the implementation of Invoiceflow, all invoices were received in a single inbox. Using AI, Invoiceflow reads information from one or more documents (PDFs, images, excel) per invoice, finds important line items in each invoice document, organizes invoices into useful categories, and makes them easy to access on ServiceNow.
Improved Invoice Visibility with Dashboards
With Aavenir Invoiceflow, there was a single system of record for all Invoices. This helped in the tracking of invoices and achieving cost savings opportunities. Now AP team can measure the performance of the invoice process with dashboards and identify bottlenecks before they occur.
PO and Non-PO Invoice Approval Workflow
Aavenir Invoiceflow manages end-to-end invoice processing workflow and routes approval requests for PO and non-PO invoices using a pre-defined approval matrix and re-routes the request in case of a proxy, out of office, or escalation. The solution sends automated reminders to stakeholders for pending invoice approvals, early payment discounts, due dates, and more.
Important Disclaimer: “These hypothetical results are meant to provide an idea of improvement in the Firm’s process and methodology only. An individual’s experience may vary based on his or her individual circumstances.
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