Client Background:
Client is an Export/Import Logistics, a global trade specialist. They handle complex procurement processes for shipments between North America, Europe, and Asia. Managing large volumes of supplier invoices, purchase orders, and payment approvals led to inefficiencies, delays, and errors in their procurement cycle.
Solution:
Vita Solutions implemented an AI-driven invoice and procurement automation solution for Client. This solution leveraged machine learning and robotic process automation (RPA) to automate the entire procurement process, from purchase order generation to invoice matching and payment approval. The AI system automatically matched invoices to purchase orders, flagged discrepancies, and processed approvals based on predefined business rules. It also provided real-time insights into supplier performance and payment schedules.
Results:
The automation solution reduced manual invoice processing by 50%, significantly lowering human errors and ensuring timely payments to suppliers. Procurement cycle times were cut by 35%, allowing Client to secure better pricing through faster purchase order approvals. The AI-driven insights helped optimize supplier selection and payment schedules, leading to a 10% reduction in procurement costs. Additionally, Client improved its compliance with trade regulations, achieving faster audits and enhanced transparency in transactions.
Conclusion:
By automating invoice and procurement processes, Client Export/Import Logistics achieved greater efficiency, cost savings, and streamlined supplier relationships, enabling them to focus on strategic expansion.