Increasing automation drives down costs, reduces errors and improves efficiency. For Thames Water, an investment in invoice management automation from Bottomline Technologies has transformed the accounts payable process. Today 65% of the 80,000 invoices received annually are processed automatically, with no manual intervention.
With this level of automation, the company’s accounts payable staff are now released to spend more time resolving payment issues and working to continually improve compliance. Leveraging detailed reports from Bottomline, Thames Water is highlighting issues with supplier compliance and building stronger supplier relationships.
As the UK’s largest water company, Thames Water services 14 million customers – supplying 2,600 litres of tap water per day to 8.8 million customers across London and the Thames Valley and treating 4 billion litres of sewage daily. In addition to meeting increasingly tough demands from regulator OfWAT for both renewing infrastructure and minimising customer price increases, Thames Water is committed to operating as a ‘best in class’ service provider. The company has a strong focus on improving efficiency and driving down costs – and a key component of this strategy is ensuring smooth transactions throughout the supply chain, from orders through to payment.