Automation AI
Realizing the value of automating high-effort, error-prone processes.
The IT/Finance teams considered different options to streamline the invoicing process and how to automate. In the research process, they became aware of Robotic Process Automation (RPA) and brought this solution to the leadership as a quick way to improve the throughput and accuracy of the accounts payable process. The CFO’s team could focus on higher value work, while his Digital Workforce performed the time- consuming invoice matching and tedious data entry work—all while reducing errors. Stant engaged with Thirdware and quickly performed a successful RPA Proof of Concept (PoC). Following the PoC, Stant fully committed to rolling out Automation Anywhere RPA for several labor-intensive and error-prone shared Services processes.
Download case studyCustomer Quote
RPA has begun to show benefits towards our corporate objectives. Thanks to Thirdware and Automation Anywhere, we have been able to improve performance, increase efficiency and reduce our invoice backlog simultaneously. Our success with RPA to date has given us the confidence to move forward and automate even more processes.
Andy Anderson
CIO, Stant
Customer achievements.
Customer Achievements
80%
Invoice straight through processing
94%
Targeted supplier invoices processed
0
Data entry errors
Simultaneously improving performance and efficiency while reducing invoice backlog.
As a result of implementing an invoice-matching bot, Stant’s invoice backlog has already been reduced from 3 weeks down to just 4 days and it continues to decline. Coupling existing Accounts Payable employees with bots has put Stant on a quick path to their desired results.
Today, the bots perform the tedious invoice matching and data entry work. When the bots detect invoice errors or exceptions, they are either filed into folders or the incorrect data is overwritten. The exceptions are then moved through an approval workflow which notifies their human counterparts of pending issues. Instead of being overwhelmed by time- consuming invoice matching and data entry, the Accounts Payable team is able to focus on troubleshooting and co-ordination using the metrics generated by Automation Anywhere. This enhanced ability to do analysis and identify the root causes of issues allows the team to improve efficiency and focus on strategic sourcing and higher value activities to support Stant's corporate objectives.
Processes automated.
- Invoice Matching
- Approval Workflow
- Data Validation
- Manual Invoice Creation
- Exception Reporting and Metrics
- General Ledger Coding
Moving confidently ahead with intelligent automation.
Stant targets the automation of 80% of their invoices from raw material suppliers. The company is evaluating RPA for automation of six other processes: supply chain tracking, demand forecasting, accelerating accounts receivables processing, employee log management, ERP data validation, and new employee onboarding HR data entry. Stant has experienced outstanding financial and operating results with automation and is moving confidently ahead with additional Automation Anywhere deployments in its Finance and HR functions.
Customer Quote
The business challenges faced by the Stant finance and accounting teams were a perfect fit for Automation Anywhere’s RPA platform. With RPA, we were able to help Stant quickly realize its goals for invoice processing and building more strategic supplier relationships.
Bhavesh Shah
CEO, Thirdware Solution Inc.
Customer overview.
Stant is a tier-1 automotive supplier of thermal and vapor management parts. They have operations in 5 countries and ship to over 160 global customer locations. They recently celebrated 120 years of continuous business operations and have a proud heritage of quality products that serves OEM, industrial and after-market channels.
