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Logistics companies have always been challenged to coordinate various modes of transportation to deliver goods cost effectively.
Now, they must also respond to an even greater need for speed while contending with higher fuel prices, falling margins and a volatile economic environment. Plus, they must operate with aging and redundant systems and highly manual processes.
By examining processes end-to-end, with a focus on the outcomes they need to generate, these firms are finding opportunities to standardize and automate operations in ways that enhance, but do not disrupt, the course of business.
Some companies are also working with partners to boost operating margins, serve their customers and differentiate themselves from their competitors.
How to Embrace the Post-Pandemic, Digital-Driven Future of Work
Digital will separate the winners from the laggards in the hypercompetitive, post-pandemic business landscape. We undertook a global, multi-industry study to know how businesses are preparing for this future and here’s what we found.VIEW PERSPECTIVES
A leading postal services organization, which receives an average of 25,000 supplier invoice update requests, faced major challenges in maintaining good supplier relations and operating cost effectively. Its labor-intensive process was slow, complex and error-prone, which affected productivity. The organization engaged Cognizant to help streamline its payment status communication with suppliers.
Cognizant used our extensive supply chain and logistics management expertise to design a robotic process automation (RPA) solution that substantially automates key aspects of the process. The bots now run one hour per day five days a week, processing 375 transactions with 100% accuracy. This solution automates key steps, including downloading vendor ledger reports from the enterprise resource planning system, matching reminder requests with vendor ledger data, checking invoice duplication, updating payment status in the master database, and emailing a detailed report of processed and unprocessed invoices. The bots also assist with requests that require analyst attention and identify any outliers to help speed resolution.
The client, with Cognizant’s assistance, is currently exploring ways to automate more of its supplier accounts payable processes and incorporate knowledge retention into the software bots.
Cognizant automated 80% of the supplier request process, reducing the average handling time (AHT) for each request to 30 seconds and saving the postal services organization about 1,680 hours annually. This has enhanced the organization’s supplier relations and freed up its analysts’ time to focus on higher value tasks and more satisfying work.
AHT reduction—from 270 seconds to 30 seconds
accuracy achieved for all 375 transactions processed per day
At Cognizant, we understand the logistics industry and how to optimize costs and improve profitability. Working with both Cognizant and leading partner solutions, we employ the latest digital tools to optimize operations in the following areas:
Processing invoices manually is inefficient and open to error in complex logistics operations. Our invoice automation approach cuts costs, saves time, boosts efficiency and strengthens compliance. As accounts receivables are better managed, days sales outstanding ratios improve. Learn more.
Combining robotic process automation with machine learning and cognitive technologies to create intelligent operations, we offer intelligent process automation (IPA) solutions that deliver significant value and productivity gains. Our IPA solutions make processes smarter and elevate workforce productivity by automating end-to-end business operations. Learn more.
Leveraging the power of internet of things and data from sensors, our solutions help you better manage assets, get real-time alerts, minimize downtime, improve mean time to repair, and drive predictive analytics and insights.
Cognizant’s digital supply chain management solutions help keep purchasing, manufacturing and distribution aligned. Our logistics clients benefit from strong reverse logistics support, master data management and “control tower” flow logistics for tracking deliveries in real time.
Today’s customers expect accurate and on-time deliveries all the time. Regardless of the size and complexity of your business, we can help. With Cognizant’s industry knowledge of the latest cloud and digital platforms, our team can implement customer service solutions that are faster, and more accessible and accurate than ever before. Learn more.
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