Key Results:
100% capture accuracy
95%+ straight-through invoice processing for PO-based invoices
Automated 2- and 3-way PO matching
Eliminated invoice exceptions
Improved vendor relationships with real-time invoice status visibility
“A key part in our decision to choose Transcepta was their PO Cloud Match feature. We needed to eliminate paper, but we were also very excited to move to a touchless process.”
– VP & Chief Accounting Officer, FleetPride
About FleetPride
FleetPride is the nation’s largest independent distributor of heavy-duty truck and trailer parts, serving a vast supplier network across 250+ locations in 45 states. In addition to distribution, FleetPride provides truck and trailer repair services at select locations.
The Challenge
With rapid expansion, FleetPride faced a significant increase in Accounts Payable (AP) invoice volume. The complexity of PO-based invoices—often containing hundreds of line items—meant AP staff had to manually key and match invoices to purchase orders (POs), a time-consuming and labor-intensive process.
Additionally, FleetPride processed non-PO invoices through an e-signature tool for GL coding and approval. While beneficial for documentation, this workflow was highly inefficient for AP staff, delaying payments and creating bottlenecks.
The inefficiencies led to:
- Missed early payment discounts
- Backlog queue of over 25,000 invoices in exception state, primarily due to product price variance and quantity variances
- Limited invoice visibility for suppliers, resulting in frequent inquiries and credit holds
- Increased workload for AP staff, reducing time for strategic initiatives
The Solution
To address these challenges and drive efficiency, FleetPride turned to Transcepta to transform its invoice processing from a manual, time-consuming task into a seamless, automated workflow. By leveraging Transcepta’s advanced AI-driven automation, FleetPride eliminated manual data entry, reduced invoice exceptions, and enhanced overall AP productivity. The implementation provided key benefits, including:
- PO CloudMatch: Over 95% straight-through processing for PO-based invoices, perform 2 and 3-way matching at the line level.
- Transcepta CloudCode: Fully automated GL coding and approval for non-PO invoices, significantly reducing manual GL assignment.
- Real-time invoice status updates for suppliers, eliminating inquiries and improving supplier relationships.
With AP automation in place, FleetPride’s team now focuses on high-value strategic initiatives, positioning them as an industry leader in both operations and efficiency.
The Impact
FleetPride has set a new standard in AP automation, ensuring continued industry leadership through efficiency, accuracy, and innovation.
Want to learn more? Watch the 3-minute video for a testimonial from James Thurmond, AP Leader at FleetPride. Hear his insights on the successful journey to a fully automated AP Department.
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