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Automated Invoice

The automation of the entire invoicing process

Automated Invoice

WHAT DOES THE ACCELERATOR DO?

Automated Invoice manages the invoicing process associated with the purchasing cycle, from the entry of the data contained in invoices and purchase orders, to its verification, reconciliation and availability of the data in accounting flows into the enterprise ERP system. The Accelerator also highlights any discrepancies between the details of the invoice and those of the purchase order/delivery note/receipt (e.g. different prices and/or quantities from those agreed upon, etc.). Automated Invoice is designed for invoices for goods or services, as well as invoices for utilities.

WHY IMPLEMENT IT?

In most companies, the purchasing cycle management process is still characterised by extensive manual activities, which often results in:
  • inefficiency in terms of costs, time and resources,
  • the likelihood of errors resulting from poor data quality,
  • a lack of knowledge capitalisation,
  • the use of resources for a repetitive activity, with no added value.

HOW DOES IT WORK?

The Automated Invoice architecture integrates Optical/Intelligent Character Recognition components required for the recognition of data needed to enter invoices into the account records, including unstructured data (e.g. total invoice and/or line item details), using Machine Learning components that make it possible to identify and determine any balancing errors. The solution is implemented both on Microsoft SQL Server as well as Oracle and provides a web interface for the extraction of reconciliation reports.

HOW EFFECTIVE IS IT?

Automated Invoice has been applied in the automation of various types of invoices and data registration and reconciliation processes, with key results obtained, as follows: up to 100,000 reconciliations managed per year, a 30% increase in automatically reconciled invoices and a 50% reduction in manual activities.


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