The huge volumes and complexity of the invoices often received in paper and scanned create bottlenecks in the Finance processes.
Especially exhaustive is extracting data from the invoices and inserting it into the system.
In this process, automation is highly needed to increase productivity and ensure the business meets the key objectives like:
- Payments made on time to keep the good vendor relationship but also to prevent unnecessary payment before the due date
- Early payments discounts are not missed – having agreements for receiving discounts in case of an early payment
- No duplicate invoices and payments – double payment can cause loses
- Less time and people invested in the processing
- Minimal errors rate
- Invoiced matches the ordered
The challenges that we overcome are related to the various formats of the documents and the channels of receiving them. A streamlined and automated process now is feasible with RPA, ML and AI. They allow us to keep high extraction rates from documents with different formats and content. Companies will no longer need to try to adapt document templates and involve manpower rather than to have an autonomous workflow taking care of most of the financial documents.
Banking, Financial Services and Insurance (BFSI)
We aim at bringing value-added solutions at almost no efforts by You – our Customer.
Our power is in listening to you and understanding your processes.