Before going live with AP automation, Rack Room Shoes, an American footwear retailer, struggled with:
Too much paper: In 2018, Rack Room Shoes processed approximately 560,000 invoices. Out of the 9 FTE’s on the AP staff, 5 of them were dedicated to handling all the paper from 56,000 invoices.
Lack of visibility: At any given moment, Rack Room didn’t know what it was obligated to pay, making it very difficult for month end accruals. Decentralized invoices were a problem.
Inefficient audits and document retrieval issues: Throughout the year, Rack Room would go through sales tax audits and an annual audit. The AP staff were never sure they could find the invoices that they needed on demand, as invoices were frequently mis-filed.
Download the case study to learn the benefits Rack Room Shoes received from their AP automation transformation, including:
Visibility over all invoices via AP automation
No touch processing for 97% of invoices