Renault Argentina transforms finance department
Renault Argentina SA, one of the oldest Renault operations in the world, is using ABBYY Digital Intelligence solutions to revitalize its finance operations. ABBYY completely digitized Renault’s invoice processing which includes complex invoices containing customs and foreign trade details in multiple languages and seamless integration into SAP ERP financial software. The process is now 100% digital, which reduces the risk of human error and gives the team more time to focus on higher-value activities.
With plants in Argentina and Brazil, Renault Argentina manufactures and markets automotive products and accessories. The company provides passenger vehicles, utility vehicles, sports and an electric car. The company's business is divided into two operational sectors in over 134 countries: Automotive and Service sector.
“Incorporating this new technology allowed us to transform an operational process into 100% digital, and at the same time allowed us to introduce ABBYY solutions to other areas of the company and to other countries in the region (such as the shared services center located in Colombia)," said Ariel Varela, accounting and digital finance manager for Renault Argentina.
“Working with ABBYY was a rich experience, not only because we could truly improve and simplify several processes within the company but also because they delivered exactly as was promised and with great time to market," added Matias Ghirardi, CIO Renault Argentina.
Renault Argentina sought to automate a completely manual invoice processing system that was slow and prone to error. Renault’s Customs sector sent complex invoices that involved customs and foreign trade details, so the new solution had to be flexible, process documents in multiple languages, and integrate into SAP ERP financial software.
ABBYY’s platform automates the entire invoicing process. Invoices arrive as email attachments. ABBYY extracts the invoice and all the data in any format and language and delivers validated data to the ERP. It locates incoming emails, extracts the invoices, captures and then extracts data from a range of formats, languages, and fields. Documents are processed and migrated into SAP in approximately 1 minute. The accounting team monitors the process with the support of IT and hardly any human intervention is needed due to ABBYY’s AI and machine learning, speed, and reliable accuracy
A 100% digital transformation has been achieved. The results influenced the decision to implement the technology across Renault’s business units in South America. Invoice loading time was reduced on average from 12 minutes to 1 minute per invoice. The number of people interacting with the processes reduced from 2 people to 0.5 people. There is now 95% accuracy for capture and text recognition and staff have time to perform higher-value work. The risks of human error are nearly eliminated.
For more information, go to www.abbyy.com/solutions/digital-intelligence and www.abbyy.com/solutions/accounts-payable-automation.