Women’s designer clothing retailer attains efficiency processing over 12,000 invoices annually and saving 10’s of thousands of dollars in clerical data entry time.
SAN DIEGO (PRWEB)September 06, 2022
ancora Software, Inc., a global leader in intelligent process automation solutions including Intelligent Document Classification and Advanced Data Capture, announced today that Fox’s, a retailer for women’s designer clothing and accessories based in New York, has implemented ancora’s Intelligent Data Capture solution to transform their accounts payable process through automation.
With 16 locations, an extensive product line, and buyers constantly planning for future seasons, Fox’s team struggled with their current ERP system, to capture and manage with accuracy what had been ordered and received, including missing product. The team wanted greater accuracy in billing and exceptions. They also wanted to incorporate an AP automation solution to streamline processing time and the expertise to better integrate their ERP, their in-house PO system, and the Capture solution.
ancora Software’s Intelligent Data Capture solution, enabled Fox’s to process PO and non-PO invoices more efficiently and accurately. The solution uses ancora’s patented unassisted and assisted machine learning algorithms to unlock efficiency and improve performance. After implementation, typical ancora customers realize an 80 to 85% labor savings and improved accuracy in processing invoices, Fox’s expects to see similar results.
Fox’s CFO Tim Costigan said, “ancora’s solution will create great efficiencies for us and takes a lot of the tedium out of the AP process.” Costigan also noted that ancora’s expertise in guiding the solution and the implementation made successful delivery of the project possible in weeks rather than months.
“Bringing automation into the AP process is a huge step toward working smarter for a business like Fox’s, which has considerable AP complexity to manage,” ancora Software CEO Noel Flynn said. “The business benefits include improved accuracy as well as time, cost, and labor savings. This kind of transformation is what we focus on every day at ancora.”
About ancora Software
ancora Software, Inc. is an innovative provider of Intelligent Process Automation solutions including Intelligent Document Classification and Data Capture. Its flagship product, ancoraDocs, simplifies document capture. ancora Software’s patented artificial intelligence and machine learning technologies help organizations eliminate costly manual steps in their business processes such as document classification, document analysis, manual data entry, and manual filing. Organizations using ancora Software achieve faster and less expensive business process automation and better controls over their mission-critical information. Headquartered in San Diego, CA, ancora Software maintains sales and support operations throughout North America and in the United Kingdom.
For more on ancora Software, Inc. visit http://www.ancorasoftware.com