Client Overview
The client is among one of Australia’s largest educational institutions managing transactions and invoice processing for thousands of students monthly.
Business Need
- Handling high volumes of student bills and invoices manually led to efficiency and accuracy challenges.
- The detail oriented procedure for generating creditors listings was labor-intensive and time-consuming.
- Emails sent to agents often experienced delays in response, hindering overall responsiveness and communication efficiency.
- Bills were processed based on their due dates, leading to potential delays and inefficiencies in the payment process.
befree's Solution
- Leveraging automation and the import functionality of the Xero tool, befree’s tech team reduced manual intervention and expedited processing time for student commission payments and invoices.
- By introducing macros, we streamlined the generation of creditors listings, significantly reducing processing time and enhancing accuracy.
- Implementing a same-day response strategy for agent emails helped expedite inquiry resolutions and communication efficiency.
- Adopting a proactive approach, we initiated day-to-day processing of overdue bills regardless of their original due dates, minimizing payment delays and improving financial management practices.
80% Time Saved by AP Automation
The AP process automation yielded nearly 80% time savings and enhanced accuracy across various operational aspects while also improving overall efficiency and reliability of processes.
40% Time Saved by Process Optimization
Achieved over 40% time savings through process optimization by implementing macros for creditors listings, ensuring accuracy and consistency in generating reports.
Streamlined Communication
Our proactive response protocol enhanced timeliness and streamlined communication with agents, underscoring our commitment to high-quality service delivery and stakeholder engagement.
Improved Financial Management
Prioritizing the timely resolution of overdue bills led to improved financial management practices and vendor relationships.