Reducing Payment TAT by 90%

Reducing Payment TAT by 90% for a Canada-based Manufacturing Organization

Our client is a Canada-based company that has been operating since 1978. The company is a leading aluminum extrusion and manufacturing organization offering high-quality aluminum products and aluminum extrusions. Our client dealt with 100s of vendors at a given time which made the business invoicing and payment process complex and intricate.
  • Date: 2021
  • Client: Manufacturing and Heavy Industries
  • Category:
  • Address: Canada

What We Did

Our client worked through a business model which involved operating multiple companies at once and dealing with numerous vendors. The company was functioning on a legacy payment invoicing system that involved manual processing of invoices and payments which lead to longer processing hours and errors. Our team was expected to analyze the business model and provide a solution that could streamline this cumbersome task and improve the operational efficiencies of the business.  After a series of in-depth client process audits, we suggested a implementing a custom EFT module based on Dynamics 365 Finance Module that would eliminate redundant, manual, and bulk payment processing tasks significantly and increase TAT.

Our Approach

Our client primarily wanted to shorten their vendor payment process as the percentage of man-hours devoted to completing this task per order, per vendor was significantly higher than the accepted benchmarks of the company. Our customized EFT solution was a “Bank Complaint” solution that used EFT (80 Byte) file which allowed systemic automation permitting sending out bulk remittances at once. 

Additionally, a new system was generated that could auto-email remittance advice to the vendors post payment and the system could periodically check if there are any new payments and throw any errors.

DTC’s solution also offered features that:

0 %
Faster Payment Cycles
> 0 %
Reduction in redundant tasks