Review of Vendor’s Statement of Accounts
Care Process & Redesign
Technology
Singapore Healthcare Management Congress
SingHealth
31 December 2018
Develop an Excel report capable of performing crosschecks of transactions comparing statements of account (SOA) against SAP. Automation improved efficiency and reliability in processing vendor SOAs, enabling staff to focus on resolving disputes and key tasks.
Year Submitted: 2018
Published Date: 31 December 2018
Tags: Care Process ＆ Redesign, Technology, Operational Management, Financial Management, Productivity, Cost Saving, Time Saving, Manhour Saving, Digitalisation, Digital Platforms, Automation, Financial Services/FinTech
About this Content
Aims
Develop an Excel report capable of performing crosschecks of transactions comparing statements of account (SOA) against SAP system data to provide clear insights on outstanding items.
Background
Reviewing SOAs was a tedious, time-consuming process prone to human errors, with large volumes of invoices requiring manual verification.
Methods
Designed an automated Excel report with advanced formulas and macros for categorizing transaction issues.
Results
Reduced review time per vendor by 30–50 minutes; minimized human errors; improved productivity and reliability in finance operations.
Conclusion
Automation improved efficiency and reliability in processing vendor SOAs, enabling staff to focus on resolving disputes and key tasks.
Lessons Learnt
Leveraging technology for automation enhances productivity and accuracy while reducing manpower needs.
Additional Information
Singapore Healthcare Management 2018 – Highlighted Initiative for Finance Process Improvement.
Keywords
Process Improvement, Technology, Automation, Finance, Vendor Accounts, Cost Saving.
Innovators' Details
Innovators' Details
Healthcare Cluster(s) | SingHealth |
Organization(s) Involved | Singapore Health Services |
Platform(s) | Singapore Healthcare Management Congress |
Healthcare Professional Group(s) | Healthcare Administration |
Applicable Specialty or Discipline | Healthcare Administrators |
Project Lead(s) | Bryan Lim Boon Jun |
Project Member(s) |
Connect with this contributor!
Bryan Lim Boon Jun - bryan.lim.bj@1fss.com.sg
Project Attachment
SHM_FN003_SingHealth_Review_of_Vendor_s_Statement_of_Accounts_combine.pdf