Case study
Transforming Invoice Processing at Moolchand Mill with Docuxtract.Ai
Problem faced:
Moolchand Mill, a 79-year-old prestigious fashion brand in Pune, faced significant challenges in managing their extensive invoice processing system. With multiple retail outlets, suppliers, and a booming textile business, their accounting team was overwhelmed by manual data entry into Tally. The traditional process was causing delays in supplier payments, creating data entry errors, and consuming valuable staff time that could be better utilized for strategic tasks.
Solution:
Moolchand Mill implemented Docuxtract’s AI-powered document extraction software to automate their invoice processing system and seamlessly integrate it with their existing Tally software.
How we solved?
1. Implemented Docuxtract across all departments handling invoices – from procurement to retail
2. Trained the accounting team on the new digital workflow
3. Set up automated invoice capture from multiple sources (email, scanned documents)
4. Integrated the system with their existing Tally software
5. Established an approval workflow for invoice processing
2. Trained the accounting team on the new digital workflow
3. Set up automated invoice capture from multiple sources (email, scanned documents)
4. Integrated the system with their existing Tally software
5. Established an approval workflow for invoice processing
What happened next ?
1. Time Savings: The processing time for each invoice reduced from 15 minutes to just 45 seconds. The accounting team now processes 300+ invoices daily compared to their previous 75.
2. Improved Accuracy: Manual data entry errors dropped by 90%, significantly improving supplier relationship management and financial reporting accuracy.
3. Enhanced Efficiency: The automated system eliminated invoice backlogs, enabling same-day processing of all incoming invoices.
4. Cost Reduction: Reduced the need for temporary staff during peak seasons, resulting in 40% cost savings in accounting operations.
5. Better Compliance: Improved tracking and documentation helped maintain better GST compliance and audit readiness.
2. Improved Accuracy: Manual data entry errors dropped by 90%, significantly improving supplier relationship management and financial reporting accuracy.
3. Enhanced Efficiency: The automated system eliminated invoice backlogs, enabling same-day processing of all incoming invoices.
4. Cost Reduction: Reduced the need for temporary staff during peak seasons, resulting in 40% cost savings in accounting operations.
5. Better Compliance: Improved tracking and documentation helped maintain better GST compliance and audit readiness.
Impacts
70% reduction in invoice processing time
90% decrease in data entry errors
60% reduction in processing cycle
40% cost savings in accounting operations
90% decrease in data entry errors
60% reduction in processing cycle
40% cost savings in accounting operations
Happy Customer:
“Docuxtract.Ai has revolutionized our invoice processing system. What used to take our team days now happens in hours. The accuracy and efficiency have improved dramatically, allowing us to focus more on growing our business rather than managing paperwork.” – CEO, Moolchand Mill
