DELIVERING GREATER VISIBILITY, ACCURACY & SPEED WITH ACCOUNTS PAYABLE SOLUTION
- 50%time savings by workflow automation
- 13%cost savings with operational efficiency Flexible working with cloud
- Increasedvisibility and transparency
- Enhancedaccuracy through better data capture powered by AI
FUJIFILM Business Innovation is committed to continue offering innovations to businesses globally to help maximise their organisational strengths. We have pioneered numerous technologies and accumulated expertise since our establishment as Fuji Xerox in Tokyo in 1962, to build an environment that encourages the use of one’s creativity by effectively adopting information and knowledge. As a U.S. 9-billion-dollar enterprise with approximately 40,000 employees globally, our portfolio includes conducting R&D, manufacturing and sales of world-class multifunction printers, production printers and IT solutions, as well as business process outsourcing services.
Improved productivity with 50% time savings by workflow automation
One of the key responsibilities of the Financial Service Operations (FSO) in FUJIFILM Business Innovation Malaysia is to manage the accounts payable (AP) across their operating companies— from Singapore to New Zealand. For the 30-people strong team, however, this was timeconsuming and rife with inefficiencies. The team, which is based in Kuala Lumpur, Malaysia, was also heavily reliant on a legacy, on-premise solution hosted on a server in Singapore. To access the software, it had to tap on a proxy server—an additional step that significantly delayed their operations.
Esker Accounts Payable solution helped us to be more efficient in our processing and we achieve around 50% time savings. I would say this was the number one key benefit that we have enjoyed thoroughly as a team.
At the same time, there was no centralised overview on invoice details, which made getting a full picture of their statuses very time-consuming and complex. Some invoices did not have purchase orders, which slowed down processing time as they had to go through additional rounds of approval. Updates to invoices or purchase orders could only be verified after logging into a separate software. The processing and sign-off procedures were also extremely tedious as it involved numerous steps – manual scanning, stamping, approving and signing physical about invoices. Scanned invoices were often unclear as their data was difficult to capture. Each invoice took as many as four days to process, with a high margin of human error arising from the manual processes. Faced with a high average volume of 15,000 invoices monthly, the FSO team decided to seek a more efficient, integrated and simplified solution that could automate manual workflows, while providing real-time tracking and enhanced visibility into the status of every invoice.
Cloud-based AP solution with AI Engine and automated workflow
The first step towards streamlining the AP process, and regaining its operational efficiency, was replacing the legacy software that was deeply entrenched in its infrastructure. After evaluating some alternatives, the team eventually chose Esker AP, due to its capabilities in minimising the costs and time associated with paper-based invoice processing. In 2019, Esker AP was implemented across all its operating companies regionally, with FSO working closely with the software team to accelerate user training.
Enhanced accuracy through better data capture powered by AI
The AI-Driven Data Capture offered by Esker AP benefited FSO greatly. Powered by Artificial Intelligence (AI), Intelligent Data Capturing enabled Esker AP to extract relevant data quickly and accurately from invoices, regardless of format.Esker AP’s AI Engine also managed both structured and unstructured invoice data. As it automatically recognised and understood which invoices to prioritise and validate, this also translated to a more streamlined AP process. Scanned invoices and other documents were also captured clearly and in colour, as compared to the previous solution, which could only do so in black and white. By automating invoice processing,
Flexible working with cloud-based solution- access from anywhere
FSO employees no longer need to dedicate hours to manually sort and handle paper invoices. With Esker AP’s self-service portal, suppliers could also submit the invoices directly to the operating companies for approval. The electronic indexing and archiving capabilities of Esker AP also facilitated the auditing process, since relevant documents could be swiftly exported and retrieved. FSO has also managed to reduce space required for paper storage by eliminating manual filing, which is time-consuming. With a user friendly dashboard, employees can now customise data to suit their roles and view key information at a glance, thus allowing them to focus on their key responsibilities more effectively.
Cost-savings by 13% and with operational efficiency
We’ve seen a 13% cost savings after transitioning to Esker AP, and this is undoubtedly due to the software’s intelligent and intuitive features. It has given us the visibility to reduce transaction cycle times and optimise the AP process. In short, we couldn’t be more pleased with this solution.
Rapid and positive user adoption with its user-friendly interface
Esker AP made a great impression on FSO with its seamless migration from the legacy solution to the cloud-based software. “Esker AP is extremely user-friendly,” said Allyssa Ho, Operations Manager of FSO. “Many of us were surprised that training took much lesser time than expected, as the software’s interface is very intuitive and simple to understand.” Not only has the cloud capabilities of Esker AP minimised infrastructure costs, it also meant that the tedious process of installing individual AP software across endpoints is eliminated.
With the software delivering accurate and real-time updates, suppliers can now trust that they will be paid on time. FSO’s credibility is cemented and its supplier relations is strengthened. Meeting regulatory compliance is another benefit, thanks to transparent—and secure—audit trails and reporting capabilities. With Esker AP flexible volume licensing, it allows FSO to assign as many users and workflows in its system without the need to purchase additional licenses—resulting in substantial savings for the team. All in all, the team is pleased with the implementation of Esker AP, and looks forward to reap its productivity and savings benefits in the future.
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