AI-Powered Document Processing Reduce Admin Costs and Boost Efficiency for Major Retailers
A major retailer faced significant inefficiencies and high costs in their procurement data management process. They relied on full-time staff to manually extract information from various procurement documents and PDFs, including compliance docs, shipment docs, and supplier docs. This time-consuming and error-prone method was becoming unsustainable as the company sought to optimise spending and streamline their supply chain operations.
Challenge
- Highly manual work
- Time consuming, prone to errors
- Previous technical solutions were never good enough
Our Approach
- Trains AI models to identify and extract key data points from diverse procurement documents
- Builds a robust data extraction model capable of handling various document formats
- Employs machine learning for data standardisation across different document types
- Integrates extracted data into a well-structured database, accessible via direct integration or APIs
- Includes a user-friendly interface for team members to add new document types, ensuring system sustainability
Potential Benefits
- Significant decrease in administrative overhead costs by reducing reliance on manual data entry staff
- 80% reduction in time taken for procurement data gathering and processing
- Improved data accuracy by minimising human error in the extraction process
- Enhanced scalability, allowing the company to process more documents without proportional increase in costs
- Faster delivery of insights to procurement managers, improving overall supply chain efficiency
- Increased competitiveness in the retail market through more efficient operations
AI Document Processing
This use case demonstrates how AI can transform procurement document processing, allowing retailers to significantly reduce costs, improve efficiency, and enhance the quality of their supply chain management. By automating tedious manual processes, firms can redirect resources to higher-value activities, ultimately providing better services to their customers and optimising their procurement operations.