A railcar services roll-up ran finance 35 times over.
About 550 supplier invoices a month were typed and coded by hand across company folders, with vendors set up differently in each subsidiary. Around 90 bank accounts were reconciled one at a time against Sage, and unexplained differences carried into the next month. Nobody checked an invoice price against the purchase order it paid, and finance had no current view of outstanding payables.
ProSights built one invoice workspace and one bank reconciliation queue across all 35 subsidiaries of a railcar services roll-up, extracting invoice fields with source links, checking prices against purchase orders, suggesting codes from a shared vendor list, and matching about 90 bank accounts against Sage.
Price checks against purchase orders and contracts caught overbilling and duplicate invoices in year one, about 0.45% of $65M of supplier spend
AP fell from about 10 minutes an invoice to 4 including review, and bank reconciliation takes about a third of the time; about 1.4 people moved to collections and the close
About 90 bank accounts in one reconciliation queue, with differences investigated in the month they occur
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