Renault Argentina transforms the financial department
Renault Argentina SA, one of the oldest Renault operations in the world, uses ABBYY Digital Intelligence solutions to revitalize its financial operations. ABBYY has fully digitized Renault’s invoice processing, which includes complex invoices with customs and foreign trade details in multiple languages and seamless integration into SAP ERP financial software. The process is now 100% digital, reducing the risk of human error and giving the team more time to focus on higher value activities.
With factories in Argentina and Brazil, Renault Argentina manufactures and markets automotive products and accessories. The company offers passenger vehicles, utility vehicles, sports cars and an electric car. The company’s activity is divided into two operating sectors in more than 134 countries: Automotive and Service.
“The integration of this new technology has allowed us to transform an operational process into a 100% digital process, and at the same time has allowed us to introduce ABBYY solutions in other areas of the company and in other countries in the region (such as the shared services center located in Colombia),” said Ariel Varela, Head of Accounting and Digital Finance at Renault Argentina.
“Working with ABBYY has been a rich experience, not only because we were able to really improve and simplify several processes within the company, but also because they delivered exactly as promised and on time to market. very long,” added Matias Ghirardi, CIO Renault Argentina.
Renault Argentina was looking to automate an entirely manual, slow and error-prone invoice processing system. Renault’s customs department sent complex invoices that involved customs and foreign trade details. The new solution therefore had to be flexible, process documents in several languages and integrate with SAP ERP financial software.
ABBYY’s platform automates the entire billing process. Invoices arrive as attachments. ABBYY extracts the invoice and all data in any format and in any language and provides validated data to the ERP. It locates incoming emails, extracts invoices, captures and then extracts data from a range of formats, languages and fields. Documents are processed and migrated to SAP in approximately 1 minute. The accounting team monitors the process with IT support and virtually no 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 in Renault’s business units in South America. Invoice loading time has been reduced on average from 12 minutes to 1 minute per invoice. The number of people interacting with the processes decreased from 2 people to 0.5 people. There is now 95% accuracy for text capture and recognition and staff have time to do higher value work. The risks of human error are virtually eliminated.
For more information, visit www.abbyy.com/solutions/digital-intelligence and www.abbyy.com/solutions/accounts-payable-automation.