Manufacturer Saves $1.6 Million Annually with OnBase Capture
As an S&P 500 global manufacturer, Leggett & Platt, Incorporated produces a variety of products for homes, offices, automobiles, airplanes and retail stores. However, as the business grew, managing its cash flow was difficult with so many paper-based processes in place.
With thousands of invoices representing $3 billion in spending annually, AP staff manually processed as many as they could every day. Processing each invoice required staff to print and hand-key all needed data into the company’s ERP, PeopleSoft, and later transfer it to its mainframe application for payment.
To eliminate the challenges of manual processing, Leggett & Platt chose OnBase capture to collect data without manual keying or using templates. Now, the company electronically captures data from invoices, remittance images and check images, validates it and transfers it to PeopleSoft and the mainframe application.
The combined return on investment (ROI) for both departments was realized in less than a year – slashing $1.6 million annually in AP labor costs.