Case Study – Invoice Processing Services for Insurance Company

Case Study – Invoice Processing Services for Insurance Company

Case Study – Invoice Processing Services for Insurance Firm

 

About Company

  • The client is a world renowned insurance firm based in the United States. They are highly experienced and possess the finesse to offer their customers quality services. Because the client had large volumes of invoices to process (having failed in their attempts to complete these tasks with an in-house team), they needed a vendor who had the resources to effectively complete their invoice processing commitments in a timely manner. The client wanted us to extract specific data after doing a thorough analysis of their invoices.

Challenges and Client Requirement

The invoices to be processed were arriving in myriads of formats which made it challenging to identify or track to correct against purchase orders. This made managing cash flow difficult. During the exercise we discovered that the client had implemented the eMarketplace system. However, when we moved towards the eMarketplace we discovered that a sizable number of suppliers couldn’t work electronically, hence it was a challenge to handle the paper invoices. The final challenge which was also a critical motivation for the endeavor was to improve the pace at which the client manages financial reporting information.

What we Delivered

The insurance company wanted us to carry out complex invoice processing services. In order for us to successfully execute the project, we carried out a run with our Subject Matter Experts to better understand what the project entails. Based on the procedure we followed during the pilot run, we came to understand that application that data had to be stored in had to be dynamic so as to avoid conflicts in invoice data entry service. We were precise and carefully checked and processed invoices for the insurance firm.

  • Download scanned / handwritten Invoices from client server
  • Bulk invoice digitization services with smooth process
  • Our testing team will check each invoice
  • after confirmation from QA team we will delivered to client
  • This is the daily process since last 1.5 years and still we are working same and we will…

Results

Following our invoice process services for insurance firm, the client was pleased with the results we delivered. Since adopting a centralized form processing approach to complete the endeavor, the client now has complete transparency in their entire accounts whilst also offering visibility to all stakeholders in the sector.

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