A large organization can get hundreds of invoices a day, and any AP professional can tell you how time-consuming it can be. An invoice has to go through a full checklist before approving it. This means more man-hours, bottlenecks, delays, and risk of errors. Using A.I, top performers maintain a significant efficiency advantage, with end-to-end processes and approval workflows. "Top performers cost per invoice is 52% lesser than average AP performers. The average cost of processing an invoice is $4.57, and best in class organizations can process an invoice at $2.18.* " Organizations can achieve this by focusing on flawless process execution. This includes order compliance, supply assurance, invoice accuracy, etc.
Intelligent Payment Process
"Manual processes count for over 30% of AP costs and seriously put your company at risk "
Using intelligent AI systems, most transactional work, including invoice validation and stakeholder correspondence, can be automated. "A fully autonomous AP function of a mid to large enterprise can save up to $ 250K to $ 300K per year just out of FTE costs"
The Intelligent AI Automation Will Save You Time & Invoice Processing Costs
How does Invoice Automation work?
Upload an image or digital copy of the invoice into portal Our OCR Engine extracts relevant data according to your business rules. The data is then converted into a machine readable format (CSV, JSON, DOC). Perform Verifying Approvals Performing Disbursement Processing Check Requests
Key Features:
Easy Invoice Indexing Seamless Integration Customisable Approval Flow and Organisational Structure Configurable Service Level Agreements (SLAs) Audit Trail Extensive Reporting MULTICHANNEL DISTRIBUTION ( E-mail,Mobile portal, whats app etc)
