PRATIK RIJHWANI

VIRTUAL INVOICE PROCESSING AUTOMATION (VIPA) 2021

• Achieving 98% automation, reducing labor costs by $110,000 annually, and cutting processing time from 7 minutes to 30 seconds. As the project lead for the Virtual Invoice Processing Automation (VIPA) initiative, I worked closely with IT to design and implement an automated accounts payable system at APL. The system achieved 98% automation, significantly reducing the reliance on manual processes and cutting labor costs by $110,000 annually. Additionally, the automation reduced the processing time for invoices from 7 minutes to just 30 seconds, dramatically improving efficiency and freeing up resources for other critical tasks.
• Improved financial reporting accuracy, decreased stakeholder inquiries by 50%, and yielded annual cost savings of $13,000. In this project, I also focused on improving the accuracy and transparency of financial reporting. By leveraging SAP, Excel, and BI tools, I developed an automated management information system (MIS) that reduced the frequency of errors and inconsistencies in financial reports. This improvement led to a 50% decrease in stakeholder inquiries, as the reports were clearer and more reliable. The project also generated annual cost savings of $13,000, and I was able to complete it ahead of schedule, further demonstrating my efficiency and project management skills.
• Strengthened compliance and audit readiness by integrating real-time validation checks into the automation process, reducing invoice errors by 90% and minimizing audit discrepancies by 80%. A key aspect of the VIPA project was enhancing compliance and audit readiness. I integrated real-time validation checks into the automated process, which significantly reduced the occurrence of invoice errors by 90%. This proactive approach also minimized audit discrepancies by 80%, ensuring that the company was well-prepared for internal and external audits. These improvements not only streamlined financial operations but also reduced the risk of regulatory non-compliance and associated penalties.