APL Apollo Tube Ltd Selects Newgen to Transform its Accounts Payable Process
October 31st, 2023 – Newgen Software, a global provider of low code digital transformation platform, NewgenONE, has announced that APL Apollo Tube Ltd has selected Newgen to digitize and simplify its accounts payable process. The partnership will enable the company to get 360-degree visibility for invoice processing and plug leakages caused by manual errors. APL Apollo Tubes Ltd, headquartered at Delhi NCR, is India’s largest producer of structural steel tubes and pipes, catering to 29 cities nationwide and 20 countries worldwide.
“We are an innovation-led company. With the support of our global sales and 3-tier distribution network, we are chasing an ambitious sales target in the next three years. To continue on our growth path, we want to support our operations by adopting advanced digital technology. Our suppliers, dealers, and distribution network are an integral part of our operations, and we were looking to improve how we handled invoices. We were looking for a technology partner who could help us digitize the accounts payable process and ensure transparency, visibility, and auditability across the process. Newgen, with its years of experience, was the perfect fit,” said Deepak Goyal, CFO of APL Apollo.
APL Apollo Tube Ltd. has gone live with implementing Newgen’s accounts payable solution and the Document Management System, which integrates seamlessly with SAP. The solution enables the steel manufacturer to maximize investment returns by capturing, classifying, validating, managing payments, and seamlessly archiving different types of invoices, irrespective of the format, source, language, or region. Their finance and account managers can get real-time functional metrics for vendor payments, easily manage huge volumes of invoices, intelligently allocate users, route cases automatically, and leverage straight-through processing for faster TAT. The SAP integration simplified validations.
“At Newgen, we are thrilled about this partnership, and the scale of implementation makes it all the more exciting. Our solution will help APL Apollo process to the tune of 6 lakh invoices per annum and will support up to 90 users. The solution will help the organization get a bird’s eye view of SLA compliance, key performance indexes, and a 360-degree view of the accounts payable process. The ease and flexibility of deployment, along with easy version and change management, will lend a competitive advantage to the organization,” said Sunil Pandita, India Business Head, Newgen Software.