CASE STUDY | Finance & Accounting Automation
Faster processing
Reduced Document Processing Time
Accuracy in extracting Document
Latitude Wines is a well-established distributor specializing in fine wines, providing top-quality products sourced from renowned vineyards around the world. Known for their commitment to exceptional service and quality, Latitude Wines manages a complex network of suppliers, clients, and logistics. To handle the intricacies of their operations efficiently, they built a robust platform on Mendix, a low-code development environment designed to streamline and enhance their business processes.
Latitude Wines faced significant challenges in managing and processing the large volume of supplier invoices they received regularly:
Handling invoices manually was time-consuming and prone to errors, causing inefficiencies and payment delays.
Extracting and validating data from various invoice formats, like PDFs and scanned documents, often led to inaccuracies and inconsistencies.
The slow and error-prone process created bottlenecks in finance operations, affecting business productivity and cash flow.
The existing processes struggled to keep up with the increasing volume of invoices as the company grew, making it hard to scale effectively.
A seamless solution was needed to integrate with the Mendix platform and automate invoice processing without disrupting workflows.
To address these challenges, DocAcquire was integrated into Latitude Wines' Mendix-based platform, providing a seamless and automated invoice processing solution:
Automated Data Extraction: DocAcquire's OCR and AI-driven data extraction tools captured data from invoices with high accuracy, regardless of format or layout, significantly reducing manual intervention.
Seamless Mendix Integration: The solution integrated smoothly with the Mendix platform, allowing data to flow seamlessly into Latitude Wines’ existing systems, streamlining their finance operations.
Pre-Processing and Enhancement: DocAcquire’s inbuilt document pre-processing capabilities optimized scanned invoices by enhancing text clarity and reducing noise, ensuring better extraction accuracy.
Data Validation and Accuracy: Rule-based validation ensured the extracted data was correct and contextually relevant, minimizing errors and improving reliability in financial reporting.
Scalability: The automated process allowed Latitude Wines to scale their operations easily, handling increased invoice volumes efficiently as the business grew.
Operational Efficiency: By automating invoice processing, DocAcquire reduced the time and effort required, accelerating payment cycles and improving overall productivity.
By leveraging DocAcquire’s powerful automation capabilities, Latitude Wines achieved a more efficient, accurate, and scalable invoice processing system, enhancing their financial workflows and supporting their continued growth in the wine distribution market.