Automated Data Input Boosts AP Productivity at AIT
November 2007
Main article
Moving paper invoices through the system at AIT Worldwide Logistics (Chicago) was anything but efficient. Plus, the company was growing, and the AP department was expected to handle nearly 200,000 invoices a year, representing almost 1.3 million transaction lines. Invoices coming in via the mail were date-stamped upon receipt and sorted alphabetically by hand. Then, overnight, a second team of AP associates sorted the invoices by urgency, type of vendor, and availability of discounts. The entire sorting process took about 8.5 hours to complete. Plus, slow data entry and a cumbersome remittance process translated to a four to six week payment cycle, so trade discounts were lost.
2008
