Newgen Software’s NewgenONE has announced that APL Apollo Tube Ltd has selected Newgen to digitise and simplify its accounts payable process. The partnership will enable the company to get 360-degree visibility for invoice processing and plug leakages caused by manual errors.
“With the support of our global sales and 3-tier distribution network, we are chasing an ambitious sales target in the next three years. To continue on our growth path, we want to support our operations by adopting advanced digital technology,” said Deepak Goyal, CFO of APL Apollo.
“Our suppliers, dealers, and distribution network are an integral part of our operations, and we were looking to improve how we handled invoices. We were looking for a technology partner who could help us digitise the accounts payable process and ensure transparency, visibility, and auditability across the process. Newgen, with its years of experience, was the perfect fit,” he added.
How will it work
The implementation at Newgen’s accounts payable solution and the Document Management System, which integrates with SAP, is now live. The solution enables the steel manufacturer to maximise investment returns by capturing, classifying, validating, managing payments, and seamlessly archiving different types of invoices, irrespective of the format, source, language, or region.
With the integration, their finance and account managers can get real-time functional metrics for vendor payments, easily manage huge volumes of invoices, intelligently allocate users, route cases automatically, and leverage straight-through processing for faster TAT.
“Our solution will help APL Apollo process to the tune of 6 lakh invoices per annum and will support up to 90 users. The solution will help the organisation get a bird’s eye view of SLA compliance, key performance indexes, and a 360-degree view of the accounts payable process,” added Sunil Pandita, India Business Head, Newgen Software.
APL Apollo Tubes Ltd, headquartered at Delhi NCR, says it is India’s largest producer of structural steel tubes and pipes, and caters to 29 cities nationwide and 20 countries worldwide.
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