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HCL BPO's Invoice Processing solution increased productivity by 70% in an audit recovery management company

HCL BPO's Invoice Processing solution increased productivity by 70% in an audit recovery management company

The Client

A leading audit recovery management company in the US addressing the Financial, Retail, Technology, Manufacturing & Energy/Utility segments, the client's core solution is telecom lifecycle management (processing to payment), and effectively handles the expense management functions of Fortune 1000 companies.

Business Need

The client required to reduce its end-to-end process cycle time in order to make a positive impact on process accuracy. However, the client faced several challenges like converting paper bills into electronic forms for processing. Also the frequent change of billing procedures by the Vendors led to increase in the process cycle time. The client also needed to improve productivity and reduce customer disputes & issues. Further, the implementation phase for all new clients often caused a snag in knowledge transfer during the transition stage.

HCL's Solution

HCL provided 5 major solutions, which address the needs and challenges of the client. Invoice Tracking helps in data capture of key summary details such as account number, invoice number, current charges, statement date, due date etc. This also helps in cross checking of invoices that HCL receives through tracking, which in turn reduces the process time substantially. Data entry of Telecom invoices at location levels & at service item levels. The individual line items of the telecom bill are analyzed and categorized under the specific expense heads thus improving accuracy. Categorization of invoices based on complex levels (Vendor-wise and also based on number of pages) and this enabled the client to deploy resources based on different complexity level of invoices. Accounts Payable Review enables a final audit check of invoices that have been keyedin to be approved for payment to vendors. This reduces the constant change in billing procedures. By E-Invoice the XML files are directly downloaded from vendors' website and stored in Customer's Application. Invoice Reconciliation finally helps validate the invoices thus avoiding duplication.

Results

Productivity increased by 70% with accuracy levels up by 60%. There was reduction in end-to-end cycle by over 50% and the process stabilized within two weeks from transition. This helped the client in approaching new customers with greater confidence.

Process Metrics

Metrics Before HCL With HCL
Productivity    
Invoice Tracking 15 Invoices/Hr 38 Invoices/Hr
Invoice Entry 5 Invoices/Hr 7 Invoices/Hr
AP Review 25 Invoices/Hr 45 Invoices/Hr
E – invoice extractions 7 invoices/Hr 16 invoices/Hr
Quality    
Invoice Tracking 75% 99.70%
Invoice Entry 65% 99.12%
AP Review 95% 100%
Invoice Volume 16 K 50 K
Cycle Time 9-10 Days 4-5 Days

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