Intelligent Invoice Processing

The client’s finance and accounting team was struggling to keep up with ever-increasing volumes of invoices generated from thousands of suppliers. The scenario got convoluted as the types of invoice formats started increasing with the addition of new vendors, creating large sets of unstructured data.

Considering the complexity of the procedure and the sheer volume of unstructured data, we proposed an invoice processing HyperApp approach designed to optimize STP rather than a typical rule-based RPA fix. This is due to the fact that even a minor change in the UI, APIs, or data transposition could break down the bots’ functionality. Such disruptions in automation cause downtime and demand allocation of additional technical resources resulting in backlogs.

• Achieved ROI in six months by ensuring efficiency and delivering the high accuracy rates
• Reduced inaccuracies and downtime with intelligent document processing
• Increased speed of end-to-end billing by bringing down processing time from three days to under 10 minutes
• Reduced technical support requirement with easily configurable workflows
• Controlled capital and operational expenditure while scaling with pay-as-you-process model
• Enhanced utilization of resources by reducing back-office tasks and redeployment of resources to focus on high-value tasks

• Automatic recognition of invoice formats
• Intelligent extraction and seamless invoice processing
• Document processing from mail and folder
• Automatic training for newly added invoices
• Ability to add new fields to be extracted
• Verify and enter extracted values in Tally
• User-level access to dashboards and forms
• Approval forms for manual verification and correction
• Scheduled or manual task execution

• JIFFY.ai
• Optical Character Recognition (OCR)
• Python