Streamline Cash Flows: Accounts payable & receivable optimization and automation
Mercana
Manufacturing/Retail of Home Goods
Canada & USA
Furniture & Décor manufacturing, multiple brands and locations
Background & Key Challenges
Furniture Manufacturer
Invoice Posting Delays
Manual Errors
Delayed Decisions
Talent Gaps
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Mercana, a luxury furniture, art and decor manufacturer crafting luxury designs for everyday living.
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Experienced a high volume of supplier invoices resulting in a backlog of invoice postings, delayed payment processing and approval.
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Manual data entry and paper-based process caused errors and discrepancies, affecting vendor relationships.
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Lack of timely information hampering cash flow management, financial reporting and decision-making.
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Shortage of trained talent with high hiring and retention costs.
Our Value Proposition & Results
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Deployed AP & AR specialists with significant experience required for seamless execution and quick results.
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Automated some processes to minimise manual work for efficiency.
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Implemented controls, including a robust review process, which resulted in minimizing errors.
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Prioritized and streamlined invoices based on payment terms and urgency (relationship management) to allow the client to address challenges with vendor management.
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Successfully cleared the backlog of invoices and payments within the agreed-upon SLAs.
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Improved vendor relations, reduced delays in reporting for timely decision-making and saved cost on hiring of trained resources who fit the job profile.
Time & SLA
Efficiency
Process
Automation