Work Smarter not Harder with Kofax SmartHub
The company is the world’s leading high-service distributor of electronics, automation and control components, tools and consumables, serving more than one million customers globally. With a global network of distribution centres, RS Components ships more than 44,000 parcels daily. Its products are sourced from 2,500 leading suppliers.
Started in a garage in Northwest London in 1937 under the name Radiospares Limited, and rebranded as RS Components in 1971
The company says two of the biggest benefits of the solution are in auditing and compliance. The solution implemented at RS Components is integrated with its SAP ERP system—a major reason for choosing Kofax technology. Following implementation, RS Components has increased the number of invoices processed per month to 55,000 from 42,000, and reduced the number of full-time AP staff from 20 to 10. The company now has 90% of invoices going through the automated system—only 10% need verification. Overall, employment costs have been reduced by 36% per year.
Expanding the benefits
“Our UK team achieved ‘star awards’ for ongoing process improvements and we want to continue to be seen here a innovators within our global organization,” Adams says. “The system we have in place from Kofax and Cogent will enable us to achieve that.” With a track record of success, Adams and her team are looking at process improvements that involve suppliers. “So far we have been focused purely on processing paper supplier invoices,” she says. “We are now looking at how email invoices can also be brought into the process. We’re confident that this is the next step.”
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