SPICE MOBILES
Spice Mobiles offer a wide range of Android Smart phones & Feature Phones in India. We uploaded that data to the local server and from there, data moved to web server dynamically, and form there automatic computation invoices were generated, mails were automatically sent and follow-ups were taken.
Client’s Profile:
Spice Mobility Limited is a telecommunications-mobile firm established in India. The firm is involved in mobile devices, technology, development, commerce, and services. In addition, also in information technology. The telecommunications-mobiles section of the Company is involved in the production and selling of mobile phones, whereas the Information Technology segment is involved in the manufacturing, trading, installation, and networking of computer systems, as well as maintenance and servicing. The primary products of the company are a mobile device, passbook printers, and a computer system. Spice Mobiles, its subsidiary, was India’s first indigenous mobile phone manufacturer. When the phone industry in India was controlled by MNCs, the firm was founded to supply handsets with revolutionary features at an accessible price to Indian users.
Description of Project:
We suggested a cutting-edge, custom-built solution that made use of the most recent Robotic Process Automation (RPA) and Machine Learning (ML) capabilities. The complete invoice processing flow and probable situations for the client were examined to provide an effective and user-friendly solution with enhanced cycle time and accuracy.
Challenge:
The customer wanted to automate their invoicing process and was searching for a partner that could provide an effective automation solution for their invoice generation process, which involved various enterprise systems because;
- Every month, the finance staff had to manually handle thousands of transaction-based invoices. They reconciled each invoice with the relevant sale and payment made by dealers for invoice remittance entry.
- Because each invoice had several hundred items that had to be manually checked, the procedure was time intensive and mistake prone.
- Because of the worldwide nature of their firm, extra country-specific challenges for their invoicing process arose.
- The manual and inefficient invoicing and accounts receivable (AR) processes resulted in long cycle times, a large AR backlog, and an increased risk of revenue loss due to human error.
- Managing the differences between invoices and purchase orders, as well as their reconciliation, became incredibly difficult.
Solution:
In our ERP integrated automatic invoice generator system, the product and payment data were taken from the invoice document and compared to the purchase order. The following capabilities are built into the solution:
- Process Invoices received by email in the form of spreadsheets, email text, PDF, or picture. An optical character recognition (OCR) module harvests customer information and invoice data intelligently and then maps the data to related fields in the ERP system.
- Create a report of unprocessed invoices for the finance staff to manually handle.
- Set up a bot to run the invoice processing routine at regular intervals.
- Finish the transaction with an acceptable variance or generate an error message for transactions that exceed the variance limitations.
- Identify surplus payment amounts and deposit them into the dealer account as a down payment on future bills.
Result:
The client’s manual end-to-end invoice processing has now been turned into a well-defined, automated, and rule-based invoice reconciliation procedure. The automated invoice generating software, which uses custom created RPA workflows, is available 24 hours a day, seven days a week, allowing for increased productivity, greater process control, faster invoice processing, and shorter turnaround times. Our product has also assisted the customer in freeing up crucial financial staff for more strategic revenue recognition and business forecasting chores.