ELIX Polymers Processes Invoices Faster Thanks to Esker’s Accounts Payable Solution
MIDDLETON, Wis. — October 9, 2017 — Esker, a worldwide leader in document process automation solutions and pioneer in cloud computing, today announced it is working with ELIX Polymers, a leading manufacturer of ABS (Acrylonitrile-Butadiene-Styrene) resins and derivatives, to automate its accounts payable (AP) process. With the goal of improving supplier payments, ELIX Polymers selected Esker’s cloud-based Accounts Payable solution to automate an annual volume of 8,000 invoices from 2,000 suppliers in Spain and North America.
Prior to Esker, ELIX Polymers manually processed its supplier invoices (75 percent of which are received via email and 25 percent via postal mail), which resulted in significant delays in the time to allocate expenses to the right cost center.
Today, received invoices are scanned in batches and entered into an automated workflow. Esker’s intelligent image recognition technology extracts data, identifies the corresponding manager according to the supplier code and then dispatches the invoice for approval. Thanks to machine learning capabilities, Esker’s solution quickly identifies and corrects errors, knows which invoices to prioritize and which to reject, collates those from purchase orders and validates them through an electronic approval workflow. The streamlined process improves reliability and accelerates the processing of future invoices.
“Esker’s intelligent capture, filtering and tracking capabilities have enabled our AP department to work faster and more efficiently,” said José Antonio Martín Sierra, head of accounting at ELIX Polymers. “Our supplier relationships have improved, too, thanks to accurate and on-time payments.”
Benefits of AP automation
Thanks to Esker, ELIX Polymers has achieved numerous benefits, including:
- Faster invoice processing
- Increased visibility over the whole AP process
- Ability to monitor team performance and invoice status thanks to dashboards and metrics
- Improved efficiency when searching for invoices via electronic archiving and key-word search
- Improved communication with suppliers and reduced collection calls
- Seamless ERP integration with the company’s SAP® system
About ELIX Polymers
ELIX Polymers Americas is a subsidiary company in America of ELIX Polymers. ELIX Polymers is a leading manufacturer of ABS (Acrylonitrile-Butadiene-Styrene) resins and derivatives in Europe.
Operating from its head office in Tarragona, Spain, and with Sales support teams in all key markets, the company is a specialist provider of tailor-made solutions for high quality thermoplastics applications. With a 40-year track record, ELIX Polymers is an expert in ABS polymers, and it has the resources, the expertise and the experience to create value for its customers through highly individual solutions.
ELIX Polymers offers a broad range of material solutions for a variety of industries and applications, meeting the stringent requirements of the Healthcare, Automotive, Appliances, Electronic, Toys and other industries.
Esker is a worldwide leader in cloud-based document process automation software. Esker solutions, including the acquisition of the TermSync accounts receivable solution in 2015, help organizations of all sizes to improve efficiencies, accuracy, visibility and costs associated with business processes. Esker provides on-demand and on-premises software to automate accounts payable, order processing, accounts receivable, purchasing and more.
Founded in 1985, Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France and U.S. headquarters in Madison, Wisconsin. In 2016, Esker generated 66 million euros in total sales revenue. For more information on Esker and its solutions, visit www.esker.com. Follow Esker on Twitter @EskerInc and join the conversation on the Esker blog at blog.esker.com.