Alpek Polyester Strengthens Vendor Relationships with Process Director
Alpek Polyester Strengthens Vendor Relationships by Implementing an Automated AP Solution
The year 2011 was pivotal for Alpek Polyester, as the leading low-cost producer of PET resin led two major acquisitions and, as a result, more than doubled its production. The company’s already centralized, paperless, and partially automated accounts payable system had served the lean organization well up to that point, but it began to burst at the seams as late fees were incurred and lack of visibility tested vendor relationships. The leadership at Alpek Polyester turned to a best practice, end-to-end AP solution to quickly deliver the added efficiencies it needed to resume the company’s low-cost competitive advantage.
Challenge
Despite having many best practices in place, Alpek Polyester still experienced problems with its AP processes, and the growth associated with the 2011 acquisitions exacerbated those inefficiencies. While invoices arrived in electronic form, AP staffers still had to manually key the data into SAP. The manual process was slow and the inaccuracy associated with human touch points were commonplace.
Solution
The project’s goals were twofold: to improve vendor relationships by increasing invoice processing efficiency and improve cash management by reducing late fees. Alpek Polyester decision makers searched for a simple and easy-to-implement solution that could show a solid return on investment.
Results
With Tungsten’s automated solutions for AP processes in place, Alpek Polyester is moving toward a more nimble, cross-trained AP department. Some staff members monitor incoming electronic invoices and drop them in designated ReadSoft folders where they are automatically pulled directly into the Tungsten software.
Focus
- Automated AP processing
We had to find a way to use the staffing that we did have, and be able to achieve the same results with twice the invoice volume. I think we’re moving in the right direction and it’s going to be very valuable in the long run.
Carrie Horrocks
Assistant Controller, Alpek Polyester
About Alpek Polyester
Products
AP & AR Automation
Tungsten ReadSoft Invoices
Whether your AP department receives invoices on paper, PDF, XML or e-invoice, ReadSoft Invoices automates the scanning, interpreting and posting of invoice data
AP & AR Automation
Process Director
Discover how AP automation tools for SAP can enhance productivity, accuracy, and more with Process Director from Tungsten Automation.
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