Down from 20 minutes to 8 seconds: How Medtronic transformed invoice matching with AI
Manual matching of documents drains efficiency and pulls talent from strategic priorities
At Medtronic, a global leader in medical technology, teams faced the time-consuming process of manually matching invoices, proof of delivery and purchase orders. This labor-intensive workflow impacted operational efficiency and diverted talent away from strategic work.
| 8 seconds |
99% accuracy |
| Down from 20 minutes per invoice to 8 seconds: Reducing invoice processing time dramatically | Over 99% accuracy: Minimizing costly errors |
“By focusing on tangible business outcomes, our partnership with IBM delivered transformative results—reducing open accounts receivable to improve free cash flow, elevating team productivity to unlock capacity for higher-value work and enhancing accuracy.”
Eric Wellmann
Senior Director of Credit Services, Global Operations and Supply Chain
Medtronic
Reimagining document matching with Document Intelligence Platform
Medtronic’s Credit Services, Global Operations and Supply Chain Analytics, and Information Technology teams collaborated with IBM Consulting® and their Microsoft technology-focused consultancy, Neudesic®. Together, they deployed the Document Intelligence Platform (DIP) Accelerator, an AI-powered, Microsoft technology-based solution that automates the ingestion and matching of invoices, proof of delivery and purchase orders. By leveraging advanced machine learning (ML) and generative AI (gen AI), the DIP Accelerator handles complex formats, stamps, poor scans and non-standard layouts with ease.
The Neudesic team customized the platform to integrate seamlessly with Medtronic’s key workflows. In just four weeks, Medtronic automated document matching within one department, setting the stage for broader transformation.
“By focusing on tangible business outcomes, our partnership with IBM delivered transformative results—reducing open accounts receivable to improve free cash flow, elevating team productivity to unlock capacity for higher-value work and enhancing accuracy,” said Eric Wellmann, Senior Credit Services Director, Global Operations and Supply Chain at Medtronic.
“We’re leveraging AI to create tangible value. When powerful technology meets human insight, it elevates processes and unlock people’s potential. We’re not waiting for the future of work; we’re actively shaping it.”
Luciano Miranda, Vice President of Advanced Analytics Global Operations and Supply Chain, Medtronic
The breakthrough: Automation slashed processing time, boosted accuracy and freed teams for strategic focus
The DIP Accelerator delivered immediate results. Document matching time dropped significantly, with accuracy exceeding 99%. As a result, Medtronic freed up staff to focus on high-value activities.
The solution offered the following key benefits:
- Down from 20 minutes per invoice to 8 seconds: Reduced invoice processing time dramatically
- Over 99% accuracy: Minimized costly errors
- Greater scalability: Seamlessly handled growing document volumes
- Enhanced productivity: Enabled teams to focus on strategic tasks
This project by IBM and Neudesic shows what’s possible when visionary leadership, trusted partnership and intelligent automation come together.
“We’re leveraging AI to create tangible value. When powerful technology meets human insight, it elevates processes and unlock people’s potential. We’re not waiting for the future of work; we’re actively shaping it,” concluded Luciano Miranda, Vice President of Advanced Analytics Global Operations and Supply Chain at Medtronic.
About Medtronic
Medtronic plc, a global healthcare technology company, develops and manufactures a wide range of medical devices. Founded in 1949 and headquartered in Dublin, Ireland, Medtronic’s operational headquarters are in Minneapolis, Minnesota. The company is recognized as one of the largest medical device companies in the world, providing solutions in more than 150 countries. Their portfolio includes cardiovascular, medical surgical, neuroscience and diabetes segments. The company’s mission, inspired by their founders, is “to alleviate pain, restore health and extend life.” Medtronic is committed to innovation, regularly investing in research and development to introduce cutting-edge medical devices and therapies for a wide range of conditions.