Cost Reduction
Productivity Improvement
One of the largest health systems in the U.S. with a large network of suppliers provides a diverse set of products and services. The existing procure-to-pay process was complex, highly manual, and involved multiple disconnected systems and processes to review payable information. This process created significant challenges for the internal team and their suppliers, leading to issues such as paying incorrect amounts, delays in payment, and confirming goods and services had been received.
TADA addressed these challenges by implementing its Intelligent Payable Management Module, providing real-time insights and tools to proactively manage exceptions. With a digital twin of their procure-to-pay process—covering PO issuance and invoice receipt, workflows to ensure contract conformance and match exception resolution, track and trace transaction and inventory for recalls and returns—the customer was able to optimize payable management.
Due to the disconnected systems & processes, the customer had analysts who manually reviewed documents and entered information, analysts would collaborate internally and externally with supplier through emails & phone calls, which limited their visibility into the status of payables and the critical transactions and issues suppliers that need to be managed. This highly manual and inefficient process resulted in lags in the receipt of information across the customer’s operations (i.e., impact of recalls & returns), unnecessary late fees and credit holds, missed discounts, and strained relationship with their suppliers.
Document Digitization & Transaction Reconciliation:
Transform invoices and documents into structured data, enabling seamless transaction matching with AI and NLP for enhanced accuracy.
Accounts Payable Process & Exception Management Workflows:
Streamline accounts payable by automating workflows and managing exceptions, ensuring timely payment & reducing errors. A live message board to collaborate and share information internally and externally to suppliers.
Track and Trace Transactions:
In the case of a return or recall, the inventory could be traced back to the supplier, invoice, and PO from which it is originated. Cross-functional teams had access to the same information, allowing them to coordinate their respective functions to more efficiently manage issues.
Supplier / Vendor Portal:
Provides real-time visibility to the status of transaction, and reasons for rejected invoice.
Consolidated Process Metrics:
Access unified, real-time insights into key metrics for complete visibility and control over your payables process.
Contract Conformance and Match Exceptions Improvement:
The customer was able to see 15-20% cost reduction in its payable management process.
Analyst Efficiency & Productivity Gains:
Accounts payable productivity improved by 30%. Previously, analysts had to manually review pdf documents, enter information into databases, and determine the existence of a mismatch or exception, communicate with suppliers via emails and phone calls. TADA automated most of these processes, enabling digital collaboration in real time and resulting in a 10X improvement of the number of transactions reviewed, processed, and exceptions flagged.
TADA's Intelligent Payable Management Module successfully addressed the customer’s challenges by enhancing visibility, automating manual processes, and enabling real-time collaboration internally and with suppliers. As a result, the customer reduced costs by 15-20% and increased analyst productivity by 30%. TADA's solution streamlined collaboration, reduced inefficiencies, and mitigated risks across their procure-to-pay process.