SECAUCUS, NJ, June 8, 2020 – IPS, a leading provider of cloud-based accounts payable transformation solutions, announced today that its automated platform has helped Norbella, a media strategy, planning and buying company, streamline its invoice approval and posting process.
Each month, Norbella receives between 200 and 500 invoices from suppliers for the media that it has bought on behalf of its clients. Many of these invoices are from individual broadcast television and radio stations. While Norbella receives supplier invoices through many different delivery channels, e-mailed PDF attachments and web uploads now account for most of its invoice volume.
Before deploying the IPS solution, Norbella used a solution from another vendor for about a year.
The IPS solution has provided Norbella with immediate tangible benefits:
- Higher efficiency. The solution that IPS replaced was very hands-on. IPS reduces manual tasks by extracting and validating invoice data and matching it against information residing in Norbella’s Advantage host system. As a result, between 33 percent and 50 percent of the invoices that Norbella receives hit the CFO’s desk for approval without the need for human operator intervention. In the past, none of Norbella’s invoices were processed straight-through.
- Better accuracy. It was not uncommon for Norbella’s old accounts payable solution to misread the data on invoices. Between 3 percent and 5 percent of the invoices that Norbella processed resulted in an error. The intelligent data extraction and validation technology used by the IPS solution has reduced Norbella’s error rate to less than 1 percent.
- Faster cycle times. The combination of less manual intervention and fewer data extraction errors has enabled Norbella to process the invoices it receives from suppliers a lot faster.
- Easy transition to Work from Home. The completely digital IPS platform made it easy for Norbella to migrate to a Work from Home environment during the COVID-19 pandemic. Authorized users can access invoices from anywhere, at any time, using any device.
- Seamless integration. The integration between the IPS solution and Norbella’s Advantage accounting platform enables invoice data to be uploaded quickly and accurately.
“Norbella’s experience working with IPS demonstrates the huge upside for media and advertising agencies that automate their invoice approval and posting processing,” IPS Founder and CEO Greg Bartels said. “A cloud-based accounts payable transformation solution eliminates the need to have in-house resources manage the invoice approval process, and manually key, validate and match invoice data.”
Click here to read a case study on Norbella’s automation project.
IPS is a leading provider of cloud-based solutions that transform accounts payable and invoice processing end-to-end. The IPS platform combines intelligent data capture, robotic process automation, digital workflows, mobile, business analytics, supplier management and integration with any ERP application or downstream system. These are some of the reasons that IPS processes more than $100 billion in accounts payable spend each year, has created over 1 billion digital records over the past decade, and is the market leader in media payables.