Achieving Goals by Leveraging AI-enabled Automation Solutions
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Key Takeaways
⇨ With the imminent risks of instability from global pandemics, climate change and geopolitical uncertainties, companies are opting for solutions that could help them automate and stabilize their internal operations.
⇨ Boralex, the Canadian power company, was looking for a solution that could help improve its AP and procurement processes through digitalization and automation.
⇨ By turning to xSuite's AI-enabled automation solution, Boralex managed to define clear release strategies and manage authorizations successfully with the average time per invoice reducing significantly.
The importance of technology should not be underestimated in today’s globalized world. With the imminent risks of instability from global pandemics, climate change and geopolitical uncertainties, companies are opting for solutions that could help them automate and stabilize their internal operations. Although many organizations are now deploying automation and moving to cloud, full digital transformation is a step-by-step process that requires thorough attention to each aspect of a business.
Boralex looks to streamline operations for a greener future
Canadian power company Boralex specializes in a critical mission of delivering renewable energy, including wind, solar and hydroelectric, on a global landscape. The company is hoping to stand at the forefront of a changing world and shift the global energy landscape toward a greener future.
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Manual inefficiencies in AP
Nevertheless, despite its progressive ambition, Boralex’s accounts payable department’s processes required reconsideration. Handling its AP in an old-fashioned, paper-based way was proving to be inefficient for the company. Invoices were received via the postal system and circulated physically between departments. If a supplier submitted an invoice via e-mail, the document was printed, and the hard copy forwarded from checkpoint to checkpoint.
The challenges needing to be addressed:
- There was a lack of transparency throughout the invoice payment workflow.
- The AP department faced challenges in maintaining efficiency as documents accumulated at an overwhelming pace.
- Financial penalties accrued due to delayed payments.
- Realization of procure-to-pay processes requiring transformation to address bottlenecks and backlogs.
Simplified and streamlined with xSuite Invoice for SAP
To simplify and accelerate the procurement and AP processes to pay incoming invoices on time and increase transparency throughout the organization, Boralex turned to xSuite as a long-term partner to help implement the solution. xSuite implemented its Invoice solution, which is a digital, AI-enabled AP automation software that fully integrates with SAP. Since then, Boralex managed to define clear release strategies and manage authorizations successfully. Today, its average throughput time per invoice has been reduced significantly, and Boralex can pay its incoming invoices on time.
Ambitious goals require ambitious solutions – as is proven by Boralex’s case. By leveraging digital technologies in their operations, companies can forget about manual delays in the processing of functions such as AP and procurement. Instead, they can shift their focus toward global transformation, including solutions that will help tackle looming climate change threats.
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