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HOW LAND SECURITIES GROUP SAVES 92% OF ITS DOCUMENT PROCESSING TIMES WITH ROSSUM







 * 91.6%
   
   time saved per document


 * 4.5 SEC
   
   validation time per document


 * 84%
   
   automation rate

Founded in 1944, Land Securities Group (Landsec) is one of the leading real
estate companies in the UK.  Headquartered in London, Landsec provides real
estate services for commercial and other non-residential buildings. The company
has a £12.8 billion portfolio spanning 24 million square feet of well-connected
retail, leisure, workspace, and residential hubs. From the iconic Piccadilly
Lights in the West End and the regeneration of London’s Victoria to the creation
of retail destinations at Westgate Oxford and Trinity Leeds, Landsec owns and
manages some of the most successful and memorable real estate in the UK.

Landsec aims to lead the industry in critical long-term issues – from diversity
and community employment to carbon reduction and climate resilience, the company
delivers value for its shareholders, great customer experiences, and positive
change for communities. 


THE CHALLENGE

Prior to the 2020 pandemic, Landsec was running a completely paper-based
operation. The lack of integration and support for digital invoices arriving via
email resulted in teams having to do around 4-5 operations on average at the
preprocessing stage alone, with emailed invoices printed out in order to be
processed. With the volumes growing, the company felt a big pressure to find an
automated, scalable solution.

By the nature of Landsec’s business, various financial commitments and GRN
accruals are very important. Another peculiarity of real estate is that one
customer can have multiple tenancies, with each of these tenancies sending
multiple different types of invoices. The Landsec team considered several
different solutions, with template-based providers ruled out at the initial
stages of the evaluation for their lack of ability to support the
above-described scenario in a scalable and efficient way.

The majority of the vendors evaluated, whilst checking all the boxes on paper,
provided a set of ununiformed solutions that weren’t communicating well with one
another and weren’t built to work jointly in reality. The team found that most
of the evaluated solutions handled the whole procurement aspect in parallel,
outside Landsec’s finance system, with General Ledger data not plugged into a
financial management system. The absence of reciprocity and API integrations
made it difficult to respect and adhere to business requirements and
regulations. 

Rossum came into the picture as one of the few AI cloud providers at the time.
It was ultimately chosen over other strong competitors for its user-friendly UI
validation interface and mature APIs that could easily integrate into Landsec’s
processing workflow logic.


THE SOLUTION

Rossum’s solution went live just in time to help with the digitization before
the Covid-19 lockdowns in the Spring of 2020. Thanks to the timely deployment,
Landsec teams could keep on working remotely with minimal impact on the
production process.

The first solution integrates the Rossum AI engine and validation screen into
Landsec’s workflow and a proprietary app called ICE. Then invoices and credit
notes arrive in a local inbox set up with logic to classify and determine
whether the email has attachments. Rossum AI then picks up the documents to
perform data entry and plugs them back into ICE workflow to perform a series of
automated business checks and validation. The invoice is then ready for 3-way
matching, after which the payment is triggered.

The second usage of Rossum infrastructure is currently being adapted by the AR
team at Landsec on remittance advice, which was very hard to make sense of in
the previous setup due to the multitenant nature of Landsec’s business partners.
With the new setup, Rossum captures the data from the remittance advice, which
can then be data matched to Landsec’s bank statement data, cutting out a large
amount of the painstaking work for the Accounts Receivable team. 


THE IMPACT

 The dramatic increase in the overall speed of throughput was of major
importance, as Landsec needs to report back to the UK government on how quickly
the payments are executed. Effectively, the SLAs are determined based on the
size of the business partner. The smaller the company, the faster Landsec needs
to make payments. 

Rossum’s fast learning and flexible AI prevented the Landsec team from
constantly needing to onboard and tweak new invoices and layouts. With up to 92%
time saved on manual data capture and validation, Landsec’s team can now focus
on more specialized tasks and perform their work duties at least twice faster
and more efficiently.

> “For us, Rossum was the most straightforward solution to integrate and
> implement. We were incredibly fortunate to be able to deploy quickly and
> continue our business as usual without any interruptions.”
> 
> Chris Wilkinson, Solution Designer


RELATED RESOURCES

blog post


THE EVOLUTION OF OCR TO IDP AND WHY YOU NEED A MODERN IDP SOLUTION



Read blog post >

Demo Video


HOW AI OCR WORKS



Watch video >

ebook


HOW TO TRANSITION FROM MANUAL TO AUTOMATED INVOICE PROCESSING



Read online >


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See why hundreds of companies power their document processing with Rossum.

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