Automating Vendor Bill Processing

Case Study: Automating Vendor Bill Processing

Client Overview

Our client, a leader in the promotional products industry, provides branded gear, apparel, and uniforms to its diverse clientele. Managing over 100 vendor bills daily, their accounting team faced mounting pressure to maintain accuracy and timeliness in their financial processes.

The Challenge

The client’s manual bill entry system was a constant struggle for the accounting team, requiring significant time and effort to keep up. Recognizing that PromoStandards could provide the necessary data, they sought a solution to streamline their operations. However, discrepancies in item numbers between purchase orders and vendor bills and inconsistent PromoStandards support across vendors presented unique challenges.

The Solution

Net Lobster designed and implemented a robust, automated solution in just one month. Key features included:

Seamless Data Retrieval: PromoStandards was utilized to automatically pull vendor bills into NetSuite.
Advanced Matching Algorithms: To address item number discrepancies:
- Easy updates to vendor item IDs were enabled on NetSuite item records.
- The system dynamically accounted for common vendor prefixes or suffixes.
- Generic items were matched using quantity and price rather than item numbers.
Flexible Vendor Integration: Custom data retrieval methods accommodated varying levels of PromoStandards support among vendors.
Enhanced Error Handling: Mismatches were clearly flagged with detailed error messages, empowering the accounting team to resolve issues efficiently while refining the matching process.

The Results

Faster Processing: Vendor bills were entered more quickly, providing real-time financial insights.
Labor Savings: The accounting team saved at least 3 hours per week, freeing time for strategic tasks.
Increased Accuracy: Automation significantly reduced errors, minimizing costly downstream corrections.

Ongoing Success

Net Lobster continues to enhance the system, ensuring that our client stays ahead of their operational challenges. This collaboration has not only improved their accounting workflow but also set the stage for future innovations.