As a leading global entertainment content company, Viacom delivers television, motion pictures and a wide range of digital media across the globe. As an industry leading company, Viacom senior management wanted “Best in Class” innovative solutions to automate accounts payable. That is why Viacom deployed the IPS AP automation solution to automate its accounts payable and invoice processing.
Viacom previously had a legacy, paper-based invoice process which relied on manual routing to approve an invoice for payment. Viacom was looking to enhance the level of transparency into its accounts payable and invoice processing.
Benefits of AP Automation
Viacom chose to partner with IPS to digitize its invoice processing in the United States. IPS provides Viacom with centralized invoice receipt services for all types of invoices through the IPS AP automation solution. Invoices are digitized through IPS’ invoice processing software, and all invoice exceptions are handled through dynamic workflows which create a 100% digital approval process. The input is captured in Viacom’s automated invoice approval workflow system.
The combination of the IPS accounts payable automation solution and Viacom's automated invoice approval workflow system enables Viacom to capture invoices in their system upon receipt and route for approval. Previously, invoices were input into the finance system after the manual, paper based routing for approval. “Through IPS, Viacom now has immediate visibility into pending invoices.” stated Brian Goorevich Director, Application Development.
Fast ROI with AP Automation
With the IPS AP automation solution implemented, Viacom experienced quick and accurate invoice routing and enhanced visibility into pending invoices. Metrics are now available through robust reporting functionality and can be quickly created by anyone in the system. “Working with IPS changed our business,” says Goorevich. “We were up and running with the IPS solution in a matter of weeks. The IPS team is very client-focused; they began by asking us the right questions to ensure the least amount of exceptions. Their invoice processing experts knew exactly what areas to focus the project team on.”