Streamline Invoice Processing
Business Challenge
The Port of Portland is responsible for overseeing an Portland International Airport, general aviation, and marine activities. Invoices and supporting documents are currently received, reviewed, printed for processing, input and paid in the Port’s AP system, and then stored in physical file folders and document storage facilities at the Port and offsite. These documents are stored for various lengths of time (forever, years, months, etc.) based upon retention schedules which are set by government policies and regulations.
Customer Outcome
By automating their accounts payable process with Kofax KTA, this Port was able to save time, scale for growth, and improve controls and visibility into spend. In addition to saving time, they were also able to reduce their invoice and payment processing costs by more than twenty percent.
Additional benefits:
- Reduce monotonous, time-consuming data entry to streamline invoice processing time.
- Create a standardized, single flow for all incoming invoices, ensuring invoices are accounted for the first time.
- Improve cash flow and vendor relations by avoiding late payment fees and managing discounts.
- Improve accuracy by minimizing human error and integrating with existing accounting software.
- Create reports that provide greater insight in order to make smarter and more informed business decisions.
Our Approach
- Getting buy-in from stakeholders.
- Understand barriers to implementation.
- Perform a detailed assessment of customer’s needs and current AP process.
- Define clear IT requirements and develop solution design.
