Case study
Increased Working Capital Providing Flexibility for Growth
How we refined the AP process, reduced the time required to do payment selection by 95%, and increased working capital.
The challenge
This client approached Boxley Group with a lack of process around cash management, which allowed for uncontrolled disbursements. In addition, their employees lacked software training which allowed for errors during the vendor set up process which caused recurring early vendor payment.
Successful outcome
- Refined AP process
- 95% reduction in time required to do payment selection
- Increased working capital, providing more flexibility to grow the business
How we did it
- Reviewed and updated vendor terms in ERP
- Developed a new disbursement review and approval process
- Automated the manual payment selection process enabling client to use its ERP system
- Disabled more than 50% of the total vendor population by identifying inactive vendors
Boxley Group competencies
- Finance and Accounting Advisory
- Process Optimization
- Information Management
- Organizational Change Management
- Project Management
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