Turning procurement and payables data into insight and action is the ambition of both our clients and ourselves as a service provider. Mixed formats, poor compliance and adoption have been barriers to efficient capture, processing and analytics. Intelligent automation gives us new ways to resolve these issues and deliver increased efficiency, improved accuracy, and more value for our clients.
Unlock the value of payables through intelligent automation
Most businesses have access to more data than they have ever had before. Combine this with automation technology, and cost effective, insightful procurement is a reality.
In particular, data received from procurement and accounts payables (AP) typically comes in multiple formats and with multiple compliance requirements, and has to be digitized. The lack of organizational discipline also creates challenges around the lack of adoption of purchase orders (PO) and the tools that support conversion of external into corporate data.
Because of this, many businesses are failing to realize the benefit of investment in procurement technology. This is leading to low contract compliance and control, a lack of transparency on spend, and low productivity. Some are even suffering from a poor reputation with their suppliers, resulting in lost saving opportunities.
Reimagine the future of your P2P operations
Capgemini’s Finance Powered by Intelligent Automation solution puts knowledge, intelligence and analytics at the center of your procure-to-pay (P2P) process. Our intelligent automation solution leverages emerging automation technologies to create a platform that connects silos and enables processing of multiple inputs at reduced cost. This drives increased internal adoption by monitoring and improving user experience and compliance, enabling you to get better value out of your P2P operations.
Our combination of automation, know-how and insight underpins our P2P processes, promising improved transparency and insight with greater focus on straight-through processing, automated monitoring of controls and real-time analysis to drive compliance.
The components that make up our Finance Powered by Intelligent Automation offering can be used individually or as a suite to deliver enhanced service and outcomes, including:
- Increased spend savings – increase the percentage of users on approved systems and benefit from more spend with approved suppliers, resulting in a greater spend reduction.
- Increased buyer satisfaction – benefit from an improved payment on time percentage, with more early payment discounts realized, fewer queries per purchase, and a choice of digital communication channels.
- Reduced cost – benefit from increased electronic invoicing and higher first time matches, and prevent duplicate payments, leading to an overall reduction in your cost to serve.
Finance Powered by Intelligent Automation delivers an end-to-end transactional service that gives you insight into your sourcing strategy, efficient buying execution via the right channels, support to establish internal policies, optimized payment strategies, and enhanced reputation among your vendors – all of this while eliminating and automating non-value-adding activities.
Leverage an “automation first” approach across your P2P operations
Finance Powered by Intelligent Automation leverages Capgemini’s Automation Drive framework to add value to your finance function. Automation Drive takes an “automation first” approach to understanding technology, and is based on the observation that almost every solution in which artificial intelligence (AI) is involved consists of five elements. We call these the “Five Senses of Intelligent Automation,” and they are key to how we are reimagining our clients’ finance function:
- WATCH/Monitor – the ability to monitor and record key business data in order to create knowledge.
- TALK/LISTEN/Interact – the ability to interact with end users of the artificially intelligent solution through listening, reading, talking, writing and responding.
- ACT/Service – the use of technology to carry out actions through service.
- THINK/Analyze – the ability to detect patterns, recognize trends, and analyze information.
- REMEMBER/Knowledge – the ability to store and find information and knowledge effectively using components such as databases and search engines.
The five senses of P2P
The “Five Senses of Intelligent Automation” are applied to P2P to deliver best-in-class finance operations and enhanced business value across all aspects of the process. Connecting all of the five senses creates the foundation and platform to deliver artificial intelligence, enabling faster decisions on to unlocking the most value from your P2P function.
Re-engineer the current state of your F&A
Capgemini’s ESOAR (Eliminate, Standardize, Optimize, Automate, Robotize) methodology re-engineers your processes and sets the agenda for a holistic approach to transformation of your finance function. This enables you to implement straight-through processing and automated solutions while delivering the best impact and outcomes to your business users.
ESOAR identifies opportunities to eliminate processes up front if necessary, enhances your existing investments in technology and ERP, redirects resources from repetitive tasks towards higher-value business activity, and drives best practice.
It’s not just about technology!
Building an automation-led transformation program is not just about process and technology. Capgemini reviews the impact changing technologies can have on your grade mix and capabilities, which drives change and supports the future of your business.
With automation optimizing procurement and payables through taking over the basic, repetitive work, the role of P2P moves away from manual processing to exception handling and knowledge capture. This enables the business to comply and analyze transactions to ensure that discounts are taken, foreign exchange (FX) valuations are shared and suppliers are paid on time.
With experience from hundreds of procurement implementations and operations, our 6,500 procurement specialists can transform your entire P2P process endto-end, delivering deep transformation together with insight and analytics 24/7/365 in 38 languages.
Our long history and strong reputation in providing F&A services including P2P has already made a significant and positive impact on the bottom line and profitability of our clients. We are proud of the value we continue to deliver to our clients and the results speak for themselves:
- 100% quality of the indexation process for invoices captured by robots through implementing inSTREAM’s artificial intelligence and self-learning algorithms for an IT software provider.
- 64% to 93% improvement in intelligent character recognition (ICR) efficiency post inSTREAM implementation for a global engineering group.
- 30% reduction of manual non-PO invoice processing through implementing RPA for a global manufacturing company.
- 15% time reduction on the GR-IR reconciliation process through implementing inbuilt robotics components for automated handling “missing invoices” for a global manufacturing company.
- 10% reduction in vendor queries through leveraging RPA to deliver faster communication of “defective invoices” for a global beverages company.