Blog Post Success Story by Functions

Central Retail in Vietnam: Half-Time Invoice Processing Reduction for 1.8 Million Invoices per Year

About Customer

Central Retail in Vietnam (CRV) started its operations in Vietnam in 2012. With continuous expansion, CRV operates a total of 38 malls, 260 stores nationwide. CRV’s Vision & Mission: “To be the best, sustainable and most admired customer-centric omnichannel retailer wherever we operate”.

Challenge

CRV has to deal with a huge load of 1.8 Million invoices per year, which is equal to 4,000 to 5,000 invoices per day. With a limited human resources, high risk due to human-related errors and under time pressure, the Finance and accounting service team (FAST) faces big challenges in invoice-processing task. Besides, the staff situation is not always stable, so it takes more time to give training to the new employees. As a resutl, the total time for invoice processing in CRV per year is approximately 180,000 hours.

Solution

akaBot provides the auto invoice-matching solution, which supports FAST to do the invoice-matching automatically. Accordingly, 75% of the total invoices can be processed with the support from the robots.

Results

Cover 75% of total invoices with auto invoice-matching Up to 500,000 USD of operation cost saved within 5 years 90,000 hours (50%) of invoice processing saved per year.

Future

With the success of invoice-matching automation, CRV can focus more on other added-value such as service quality & customer experience. The success story also sets an example for further steps of CRV in omni-channel developement & digital transformation.

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