Commitment to continuous improvement
Shawcor is a major integrated solutions company specializing in products and services for the oil and gas, petrochemical and industrial industries. Driven by its commitment to continuous improvement, Shawcor identified that its existing Accounts Payable process was impacting the company’s overall customer experience, customer value and efficiency.
“Prior to Pagero, Shawcor Accounts Payable was a manual process which made it labour-intensive as well as time-consuming. In addition to the extra time and human resource cost, the company implemented a largely manual and mitigating control system and procedures to avoid data entry errors, duplicate payments and late payments to meet internal company policy and external compliance requirements”, says Imad Barake, Vice President Finance – Corporate at Shawcor.
reduction in invoice processing
The Pagero solution
Shawcor selected Pagero’s open, cloud-based network to automate its Accounts Payable processes, which was aligned with Shawcor’s objectives to streamline financial processes, enhance productivity and reduce costs.
“Before the implementation, we worked in a two-step system. One person had to manually verify all the information in our OCR system before it was sent into our ERP system. That part of the process was eliminated with the help of Pagero. Now, all the information is automatically sent directly into our ERP system”, says Kelly Maningas, North America Accounts Payable & IFS Implementation Supervisor at Shawcor. “We chose Pagero because of its agility and scalability of their cloud-based network, and the responsiveness of their team to our business needs and requirements.”
“We chose Pagero because of its agility and scalability of their cloud-based network”
Better visibility, better decision-making
“Pagero’s Accounts Payable performance and process metrics offer us unique insight into vendors’ critical data, helps us detect bottlenecks and identify potential problems for quick resolution. We are getting more reliable and accurate data, better visibility, and timely and relevant information seamlessly integrated into our ERP”, says Anna Velante, North America Accounts Payable Supervisor & Fixed Assets Analyst at Shawcor.
“Within a short amount of time, almost 40% of our vendors’ invoices from select businesses and locations are now being processed through Pagero Online, resulting in us already achieving an almost 30% reduction in invoice processing cycle times and costs. As the number of our suppliers joining the network increases each week, these savings will only continue to grow.”
“Within the last 12 months, Shawcor’s operations have increased significantly. Thanks to Pagero’s AP automation solution, we can effectively and efficiently manage this increase in volume without investing into additional resources”, says Israel Trejo, Controller at Shawcor.
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Scalable, sustainable solutions
Pagero enables Shawcor to receive all invoices electronically, regardless of whether their suppliers use electronic invoicing. By partnering with Pagero, Shawcor could offer multiple invoice delivery modes to its suppliers, including PDF invoicing.
“Suppliers are a key and integral part of how Shawcor creates value to our customers within our business model. Partnering with suppliers in key areas, such as equipment, raw materials and services, is a competitive advantage and uniquely strengthens both businesses. By supporting multiple invoice delivery methods, we have been able to encourage and accelerate the on-boarding process to achieve 100% digital flow of invoices within our ERP system IFS”, says Imad Barake, Vice President Finance – Corporate at Shawcor.
With dedicated On-Boarding and Support teams, Pagero provides unrivalled customer service across the planning and implementation phase, as well as to daily operations. “The Project Management team was excellent at answering questions and providing support while rolling out the solution. Whether it was for our internal department or for suppliers, I could have an answer to a problem within an hour,” says Anna Velante.
“We are excited about Pagero’s commitment to expanding its solutions and continuously enhancing the performance of its platform”
Innovation and technology – driving the future of project development
“We are excited about Pagero’s commitment to expanding its solutions and continuously enhancing the performance of its platform. By partnering with Pagero, we have identified several additional areas through which we can increase our productivity and efficiency through automated business operations, such as Accounts Receivable and Intercompany Netting and Accurate Spend Management,” says Paul Pierroz, Senior VP Business Services & Human Resources.
“As a global company operating in 20 countries, we operate with multiple business structures and systems to meet our customers’ needs. The inefficiencies and costs associated with this demands a better way of managing financial and accounting processes, particularly regarding intercompany billing and settlement. The Intercompany Netting solution developed by Pagero is a very promising solution for us.”
“We are eager to hear Pagero’s vision to strengthen its presence in North America and to build further on its platform to cover solutions around cash application and vendor portal management solutions.”
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Shawcor Ltd. is a global energy services company specializing in products and services for the pipeline and pipe services segment of the oil and gas industry and related products for the petrochemical and industrial market. The company operates through a global network of fixed and mobile manufacturing and service facilities and is valued for its integrity, technology and proven capability to execute the most complex projects in its industry.