Scots Bearings
Scotland’s largest independent stock holders of bearings and power transmission products.
“The introduction of an intelligent Accounts Payable automation solution has revolutionised Scots Bearings’ invoicing processes.”
Objective
Scots Bearings were facing numerous challenges in their invoicing processes, necessitating a partnership with Spectrum Digital through OGL to streamline their operations through automation. The company invested substantial time in manual tasks, including printing and collating invoices, as well as matching them to corresponding orders and deliveries. Additionally, Scots Bearings encountered difficulties in identifying pricing discrepancies and addressing goods receipt issues, while also grappling with the management of invoicing queries and improving overhead invoices. Manual data entry and document handling further compounded their time-consuming invoicing procedures. To tackle these issues and embrace automation, Scots Bearings sought the expertise of Spectrum Digital, envisioning significant time savings and improved efficiency in their invoicing operations.
Challenges
- Great manual effort in processing invoices
- Time-wastage
The Solution
To address the challenges faced by Scots Bearings, Spectrum Digital introduced an innovative and highly intelligent Accounts Payable automation solution. This adaptable software not only captures invoices and processes them within a digital workflow but also continuously evolves and becomes more intelligent over time. The software can swiftly adapt to Scots Bearings’ specific business needs, providing tailored solutions and addressing unique pricing issues and goods receipt challenges. Additionally, the intelligent automation system significantly reduces errors and discrepancies, ensuring accurate and streamlined invoicing processes. Moreover, as the software continually learns from historical data, it can become even more adept at identifying and resolving invoicing queries, leading to enhanced efficiency and improved financial management for Scots Bearings. The highly intelligent and adaptable nature of the accounts payable software empowered Scots Bearings to stay ahead of the curve, resulting in increased productivity and improved profitability.
"The intelligent automation system continually learns from historical data, enhancing its ability to identify and resolve invoicing queries. This results in improved efficiency and better financial management for Scots Bearings."