Key Features
- Automated invoice processing
- Intelligent document routing
- Freeing up valuable staff resource
- 55% reduction in time spent processing invoices
- ROI within 8 months
Overview
Cornwallis Care Services is a family-run business that started life in 1989. Since then the company has grown to become one of the leading providers of care in Cornwall.
They support and care for over 300 people in their 9 residential and nursing homes across the county, from Looe to St Ives.
They are dedicated to making improvements wherever possible and are never satisfied with the status quo.
Cornwallis Care Services’s ethos is to provide care with warmth, dignity and kindness. Every member of their team shares the same goal of providing the highest standards that are paramount in ensuring residents are offered the best possible care in a friendly and courteous manner.
The challenge
Cornwallis Care Services accounts team are based at their head office located in St Ives, Cornwall. They were using two different systems to generate purchase orders: Planergy and Sage 50.
Each Home would receive goods and send a corresponding delivery note (sometimes doubled as an invoice) to Head Office.
At Head Office, invoices are printed off and the line item check is done manually against all documents received. The information is then manually inputted into Sage.
Cornwallis Care Services were manually processing around 1,000 invoices per month.
The problem was that this system relied heavily on documentation arriving from the various Homes in the first instance. Further documentation may need to be chased up between Head Office and the Homes – this can sometimes lead to missed or late payments.
Physical printed copies needed to be printed at a cost to Cornwallis, matched and then manually inputted into a system, wasting valuable staff time. This print and matching process was taking up valuable space due to the storage of paperwork.
The solution
It was realised that an automated 3-Way Match system would make this process more efficient and save time for the accounts team.
By digitising this process Cornwallis Care Services were able to digitally store Purchase Orders and await Goods Received Notes and Invoices.
Once received, the automated 3-Way Match checks Item Codes against the quantities and net amounts of the corresponding Purchase Order and Invoice.
If all of these records match, they are automatically pushed through to the accounts team for approval – or if criteria is met and all permissions allow, it will be automatically approved.
Invoices are then booked out via a CSV export twice daily.
Benefits
Purchase Orders are automatically placed into Key Digital’s smart automation system with a pre-populated General Ledger Code section for further on in the process, thus saving duplicate entries.
Cornwallis Care Services are expecting a 55% time saving compared to their old process.
Furthermore, fewer staffing resources are now required in this department, with team members being assigned to new roles.
Cornwallis Care Services have reported an anticipated return on investment within 8 months.