ABBYY Revs Ups Renault Argentina SA’s Global Finance Operations
MILPITAS, Calif.–(BUSINESS WIRE)–#AccountsPayable–Renault Argentina SA, one of the oldest Renault operations in the world, is using ABBYY Digital Intelligence solutions to revitalize its finance operations. ABBYY completely digitized Renault’s invoice processing which includes complex invoices containing customs and foreign trade details in multiple languages and seamless integration into SAP ERP financial software.
Renault Argentina SA’s CIO, Matias Ghirardi, commented, “Working with ABBYY was a rich experience, not only because we could truly improve and simplify several processes within the company but also because they delivered exactly as was promised and with great time-to-market.”
Renault’s invoice processing is now 100% digital, which reduces the risk of human error and gives the finance team more time to focus on higher-value activities. ABBYY’s platform automates the entire invoicing process starting with invoices arriving as email attachments. ABBYY Digital Intelligence solutions then extract the invoice and all the data in a range of formats, languages, and fields. Documents are processed and migrated into SAP in approximately one minute. Hardly any human intervention is needed due to ABBYY’s AI and machine learning, speed and reliable accuracy.
“Renault Argentina exemplifies what many global organizations with regional subsidiaries struggle with during digital transformation projects. They are moving from a completely manual system that is slow and prone to error to 100% automation,” stated Bruce Orcutt, SVP of Product Marketing at ABBYY. “But we help with more than automation. Like with Renault Argentina, we transform their operations to maximize internal resources and gain more insight from their processes and data that can be used to drive more value for the overall business.”
Working with regional partner Argontech, Renault’s invoice loading time was reduced on average from 12 minutes to one minute per invoice. Additionally, ABBYY delivers 95% accuracy for capture and text recognition and the risks of human error are nearly eliminated.
“Incorporating this new technology allowed us to transform an operational process into 100% digital, and at the same time allowed us to introduce ABBYY solutions to other areas of the company and to other countries in the region, such as the Shared Services Center located in Colombia,” stated Ariel Varela, Accounting & Digital Finance Manager, Renault Argentina.
Information about ABBYY Digital Intelligence solutions can be found at https://www.abbyy.com/solutions/digital-intelligence/ and Accounts Payable Automation at https://www.abbyy.com/solutions/accounts-payable-automation/.
About Renault Argentina SA
Renault Argentina SA is the leading vehicle maker in Argentina. With plants in Argentina and Brazil, it manufactures and markets automotive products and accessories. The company provides passenger vehicles, utility vehicles, sports and an electric car. The company’s business is divided into two operational sectors in over 134 countries: Automotive and Service sector.
ABBYY empowers organizations to gain a complete understanding of their business processes and the content that fuels them with its Digital Intelligence platform. ABBYY technologies are used by more than 5,000 companies, including many of the Fortune 500, and is recognized for its leadership in Intelligent Document Processing (IDP) and Process Discovery & Mining for driving significant impact where it matters most: customer experience, effectiveness, profitability and competitive advantage. ABBYY is a global company with offices in 14 countries. For more information, visit www.abbyy.com/company.
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