This document summarizes a pharmacy benefit manager's implementation of Aavenir's Invoiceflow solution on ServiceNow to automate their invoice management process. Key challenges included no centralized invoice storage, long approval cycles, and manual processing. Invoiceflow enabled 70% accuracy in automated data extraction from invoices and an 80% reduction in invoice lifecycle time. It provided single source of truth for vendor, purchase order, and invoice data as well as real-time spend analytics and automated workflow.

1. Automated IT Vendor Invoice Data
Extraction and PO Matching on
ServiceNow

2. About Company
A leading Pharmacy Benefit Manager (PBM) serving the industry for 25 years, with a wide range
of clients, including employers, hospital and health systems, unions, TPAs, state and local
government, and health planners.
● INDUSTRY: Life Science
● REGION: Florida, North America
● HEADQUARTERS: Tulsa, Oklahoma, United States
● EMPLOYEES: 495
● INTEGRATIONS: ServiceNow Vendor Management & ServiceNow Procurement

3. Challenges
● No centralized storage of IT purchase invoices data
● Long invoice approval cycle
● Time consuming invoice management
● Error -prone manually processing invoices

4. Invoice Management Challenges
PBM had 100+ monthly invoices which arrived by email or directly generated by systems,
gathering all invoices data.
Some major challenges were:
● Labor Intensive manual Process
● Duplicate payment instances
● High level of invoice review
● Traditional way of validating invoices

5. Aavenir Solution
PBM implemented Invoiceflow Management on their existing ServiceNow and here is what they
achieved:
Automated Historical Invoice Data Validation
Achieved automated invoice data extraction with up to 70% accuracy
2-way Invoice Data Matching
Set up 100% custom workflow to handle different types of invoice mismatches
Invoice Approval Workflow
Setup really complex 5-stage invoice approval workflow
Invoice Status Reports and Spend Analytics
Monitored all invoices status and monthly trends using dashboard on ServiceNow

6. Results
● 70% accuracy in automated invoice data extraction
● Saved manual effort per invoice coding
● Single source of truth for vendor, purchase order, and invoice information
● 80% reduction in the invoice lifecycle timeline
● Automated notification for pending invoice approvals and reviews from different stakeholders
● Real-time Spend analytics
● Auto-generation of quarterly and monthly reports

7. Free Demo Session
Get a live demo of Aavenir Source to Pay solutions to know how Aavenir can address
your enterprise's unique business challenges and goals.
We provide live demonstration for following Aavenir S2P solutions:
● Contractflow - Contract Lifecycle Management on ServiceNow
● Obligationflow - Obligation Compliance Management on ServiceNow
● RFPflow - Request for Proposal Management on ServiceNow
● Invoiceflow - Account Payable Automation on ServiceNow
Visit: https://aavenir.com/demo/

8. Get Free Resources
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9. Delivering Future of Work
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