Blue Star: Optimizing Accounts Payable and Eliminating Bottlenecks.

In this episode, we explore how Blue Star, a leading manufacturer in commercial refrigeration and air conditioning, partnered with Datamatics to re-engineer its procure-to-pay (P2P) process, resulting in significant improvements in accounts payable efficiency. Faced with challenges stemming from managing seven distinct procurement processes across various business units, Blue Star sought to streamline operations and enhance vendor interactions. Datamatics implemented its AI-powered FINATO P2P solution alongside the TruBot RPA tool to automate invoice processing, approvals, and financial reporting. This transformation led to the onboarding of over 7,000 vendors to a new portal, a 33% reduction in invoice processing time from 45 to 30 days, and 70% of invoices being processed through the vendor portal. Additionally, 98% of payment requests were processed within the turnaround time, significantly boosting operational efficiency and vendor satisfaction. Discover the strategies and technologies that facilitated this seamless digital transformation, driving efficiency and strengthening Blue Star's vendor relationships.​https://www.datamatics.com/resources/case-studies/blue-stars-entire-accounts-payables-improves-by-33-with-procure-to-pay-process-reengineering

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