Pepco Holdings, Inc. reduced its average invoice processing time, which allowed for more than $3 million in savings for 2014.
Malvern, PA and Toronto, Canada (PRWEB) June 18, 2015
The Southeastern Electric Exchange has awarded its Supply Chain Excellence award to Dolphin Enterprise Solutions Corporation’s customer Pepco Holdings, Inc. (PHI) for its innovative Accounts Payable project. PHI implemented its Invoice Improvement Project at PHI and its three utility companies, Delmarva Power & Light, Atlantic City Electric, and Pepco, in a comprehensive process-driven initiative unlike any other accounts payable project in the utility industry.
Prior to the project, PHI used a decentralized accounts payable system. Invoices were received, reviewed, approved and processed at more than 20 locations. The Invoice Improvement Project incorporated electronic, automated and paperless capabilities to centralize the accounts payable process with cutting edge technology such as advanced imaging and digitization, vendor portal access and SAP-enabled workflow solutions.
As a result, PHI reduced its average invoice processing time, which allowed for over $3 million in savings for 2014.
“Enhanced controls, increased transparency and shortened cycle times are a direct result of the process-centric innovation the Dolphin solution provides,” stated Mary Gabriel, Manager of Accounts Payable and Sarbanes-Oxley for Pepco Holdings, Inc. “We are excited about the ability to measure the process so we can continue to improve our performance.”
“In this project, PHI applied a dramatically different way of thinking to an outdated process to develop an innovative, groundbreaking approach that aligns technology and process improvements,” said Brian Shannon, Principal Business Process Management Strategist at Dolphin. “As a result, PHI has reduced costs and improved visibility.”
PHI’s Invoice Improvement Project is built around best-in-class workflow solutions, including Dolphin’s Process Tracking System for Accounts Payable. Dolphin’s PTS-AP is an SAP-certified solution for invoice optimization. It eliminates error prone manual entry; allows for rapid configuration to meet any organization’s approval rules; provides complete audit reporting throughout the approval process; includes a comprehensive vendor portal to encourage self-service and early-pay discounting; and real-time visibility for performance review. There is also an accompanying mobile application that allows for approvals to be validated while away from the office.
The Southeastern Electric Exchange will hold its 2015 S.E.E. Industry Excellence Awards on June 24 at its annual conference in Hershey, Pa., where the achievement will be recognized. To learn more about this project, visit dolphin-corp.com
Dolphin leads the way in business performance improvement for companies running SAP solutions and manages both data and processes. From data and information lifecycle management to end-to-end solutions for procure-to-pay and order-to-cash processes based on SAP software, Dolphin helps deliver a competitive advantage that drives cost savings, optimizes cash flows and fosters a lower total cost of ownership. Leveraging SAP technology, Dolphin’s data lifecycle and business process management solutions and add-on applications with SAP-certified integration have built-in flexibility, and are designed to be tailored to each customer’s specific business processes and IT environments.
The company was founded in 1995 and has offices in Morgan Hill, CA, Philadelphia, PA and Toronto, Canada. Dolphin’s smart, adaptable and proven solutions are implemented by hundreds of companies across North America and around the world. Among Dolphin customers are more than one-third of Fortune 100™ companies that are also running SAP solutions. To learn more, visit dolphin-corp.com