System Implementation
VIP SOLUTIONS CASE STUDY
Manufacturing
INDUSTRY
1,500
EMPLOYEES
$300M
ANNUAL REVENUE
BACKGROUND
A private equity-backed portfolio company acquired three large regional manufacturers in the same industry. As part of the post acquisition integration, the organization needed to implement a new system for managing, processing, and paying invoices.
OBJECTIVES
Automate the process of collecting and inputting invoices
Create approval process workflows for invoices
Automate the process of matching invoices to purchase orders and receivers
SOLUTIONS
System evaluation and functional requirements gathering for new accounts payable process and system
System selection and pricing analysis to ensure alignment with organizational objectives
System selection and project plan creation
System implementation, testing, and go live
New AP processing system created a 35% increase in invoice processing efficiency while also improving accuracy and timeliness of payments to vendors
