Tag: Cost Containment

GLOBAL AUTOMOBILE MANUFACTURER REDUCES INVOICE PROCESSING TIME
FROM WEEKS TO DAYS ON THEIR $20M/YEAR CONTINGENT WORKFORCE SPEND

PROBLEM

A global automobile manufacturer was burdened with managing a $20M/year contingent workforce spend. Hundreds of invoices were coming in for IT consultants from across the globe, all at different rates, and the customer was using up three fulltime resources to manage the process—all before invoices even reached the approver. In short, they were wasting money on a highly inefficient process.

SOLUTION

With Cannon Group’s Liberty service, the customer got a fully managed automated expense management program that integrates with existing applications, such as Oracle BI, ServiceNow and an internally developed application. Cannon helped the client analyze their costly process, then reengineered to a fully managed program with trained experts and software. Automation was introduced to replace not only a cumbersome data collection process, but also manual tasks such as rate and hours compliance checks, approval management and AP file creation tasks. Additionally, Cannon’s trained experts handled vendor disputes and resolution tasks.

RESULTS

With a transparent and efficient end-to-end process, the client’s invoice processing time dropped from weeks to 1.5 days. Plus, without having to cross-reference data from various system to ensure billing accuracy, those previously bogged-down resources can now focus on more strategic initiatives.