Housing Association Case Study

How did a Housing Association successfully automate their Accounts Payable process with NexBotix?

Manual v.s Automated Process

Manual Process

This Housing Association had 4 full-time employees delivering the Accounts Payable process but they were actually performing the number of hours expected of 9 full-time employees across the year. This meant that their team was extremely overstretched with little time to complete any other finance tasks. 

 

Automated Process

We were able to automate 90% of this process using our NexBots, OCR and machine learning 

 

The customer was forecast to save almost 10,000 hours per year by automating this single process within their finance function.

What were the business benefits?

82% straight through processing

Our bots are now processing over 2500 invoices per month, 82% of which require no human intervention, saving hundreds of hours of employee time per month

70% reduction in processing cost per invoice

The comined costs of our software bots and management platform equal £1.05 per invoice compared to the £3.58 cost of manually processing an invoice

ROI achieved in 5 months

This company achieved it's Return on Investment in just 5 months and will achieve 71% annual ROI at the current rate of savings.

70% reduction of employee time spent

With the help of automation, the full-time employee resource required to process their invoices has reduced from the equivalent of 9 full-time employees to 2 full time employees, which means their team of 4 people can now focus on other important finance tasks.

Speak to a member of our team for more information today

Ready to automate your Accounts Payable process?

Our team are on hand every step of the way to guide you through the process. 

Discovery Workshop

We will host a session with your team to gain a deep understanding of your systems and current process.

Business Case & Commercials

We'll build a clear ROI focussed business case outlining the time and money you will save with our Invoice Processing solution

Optional Pilot Period

We'll happily build a pilot for you and your team to see how well the solution processes a specified number of invoices.

Managed Service

Our team will design, build and manage your automation and you will be assigned a dedicated Customer Success Manager who will be your main point of contact

Our Blog

New to automation? Check out our blog for helpful resources and guides to getting started 

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Finance and accounting teams are at the heart of all organisations. Managing revenue, third-party procurement, billing, supplier invoices, all while overseeing financial strategy and planning, mitigating risks and costs, and capitalising on new opportunities. Finance teams need to maintain high-performance levels, with minimal errors whilst pushing a business forward, which is why automation is becoming a popular choice among finance leaders looking to stay ahead of their competition.  ...
By Ann-Marie Rossiter
Automation is an essential step in the evolution of the modern finance function. This has become even clearer during the COVID-19 crisis, which exposed shortcomings in finance processes and systems. As businesses seek to rebound from the global pandemic, automation will change the way organisations operate forever.  ...
By Helena Duro
Today, we’re very pleased to share that NexBotix has been mentioned in the 2020 Gartner Competitive Landscape: Hyperautomation Service Providers report....
By Ann-Marie Rossiter
Finance and accounting teams are at the heart of all organisations. Managing revenue, third-party procurement, billing, supplier invoices, all while overseeing financial strategy and planning, mitigating risks and costs, and capitalising on new opportunities. Finance teams need to maintain high-performance levels, with minimal errors whilst pushing a business forward, which is why automation is becoming a popular choice among finance leaders looking to stay ahead of their competition.  ...