Prince’s manage a large chain of supermarkets across the Sunshine Coast in Queensland. They operate all services for the store out of a central Head Office location in Maroochydore.
By deploying a Smart Analysis, Extraction and Storage Solution, Prince’s were able to streamline information moving around the organisation and reduce manual time and costs.
Invoices for inbound stock, totaling over 5,000 per month, for all of the stores, were received at the store location but processed at Head Office.
This involved a large amount of double handling, courier costs to transport the invoices, and labour-intensive Head Office tasks to approve, pay and store the invoices for audit purposes.
Toshiba designed a solution that enables Prince’s to electronically transmit their invoices to Head Office via an embedded scanning application on a Toshiba MFD. The Solution then analyses, extracts and processes the information contained on each invoice (detecting which store the invoice came from, validating the supplier and placing it in a workflow queue).
Verification tasks are generated from each invoice’s due date (not the receive date), maximising cash flow by prioritising the right invoices, and postponing those well within payment terms. Invoices are also reviewed against a supplier weighting matrix, prioritising important suppliers for payment.
Prince’s has become more productive, with a heavy reduction in manual tasks, removal of invoice courier costs, and a simplified process for processing inbound invoices.
The Solution was initially so successful that Prince’s has since rolled out the components to other parts of the organisation (such as fleet maintenance, outbound invoices, and contracts).
Watch our video case study to learn how Toshiba's solution helped Prince's Supermarkets electronically transmit invoices via an embedded scanning application.