OVO Energy runs more accurate, efficient AP
OVO Energy replaced its tedious AP process with AP automation to reduce costs, increase accuracy, and free up Finance to focus on other projects.
“Before partnering with OSV, two to three of our clerks could spend half their day importing invoices. Now, we are tending the garden. We sort out rules and amend financial information. But more importantly, we have time to handle more analytical tasks and investigate any issue that may arise.”
Max Baker, Accounts Payable Supervisor, OVO Energy
Enhanced technological coding, imaging, and fulfillment services
Reduced errors and risk through in-application delivery
Increased scalability and efficiency while reducing costs
Why AP Automation
Before OSV, OVO Energy had four AP team members manually entering invoices into their Workday Financial Management system on a daily basis, delaying many strategic tasks.
“Our AP process was tedious,” says Max Baker, accounts payable supervisor of OVO Energy. “The team was entering invoices day in and day out, and they were still responsible for 50 to 60 customer support tickets. No matter how good you are at your job, it’s data entry; inaccuracies are bound to happen.”
As a company that’s constantly growing and dedicated to operating more efficiently and strategically at all levels, Baker knew something had to change.
Why OneSource Virtual
“OSV was the ideal option,” says Lorena Cristobal, regional assistant accountant for OVO Energy. “Their AP Automation service would allow us to be more efficient and make invoice processing less time-consuming. Plus, we knew we wouldn’t lose access and control of our data while they worked inside our Workday application.”
As a Workday-exclusive service partner, OSV can work as an extension of a company’s team directly in its tenant. Our robust full invoice coding system allows us to scan and audit invoices for accuracy and set up customer P.O. boxes and email addresses for mail centralization to help accelerate close cycles and streamline the procure-to-pay process.
Why OneSource Virtual
“OSV was the ideal option,” says Lorena Cristobal, regional assistant accountant for OVO Energy. “Their AP Automation service would allow us to be more efficient and make invoice processing less time-consuming. Plus, we knew we wouldn’t lose access and control of our data while they worked inside our Workday application.”
As a Workday-exclusive service partner, OSV can work as an extension of a company’s team directly in its tenant. Our robust full invoice coding system allows us to scan and audit invoices for accuracy and set up customer P.O. boxes and email addresses for mail centralization to help accelerate close cycles and streamline the procure-to-pay process.
What OVO Energy achieved
Since partnering with OSV, OVO Energy has improved the accuracy and efficiency of its financial processes, gained real-time visibility, redeployed employees to more analytical roles, and more.
“I’m confident everything is getting into the system because we’re yielding high accuracy,” Baker says. “Between 75% to 80% of our invoices are now processed through OSV. If there are mistakes, it’s because of the rules, which we can quickly identify and fix. Before, we would spend so much time going back and fixing errors. Sometimes we would have to go back two or three years to fix a mistake. We don’t have that problem anymore.”
“With AP Automation, there are hundreds of invoices I don't even need to look at because they're coded to go to the right place. We're very happy with the way that AP Automation deals with everything in that respect.”
Max Baker, Accounts Payable Supervisor, OVO Energy