Business Challenge
- Invoice processing is a time consuming task, which demands thorough reading followed by various checks before being entered into the Accounting System. A typical process includes receive and read invoice, checking of invoice against vendor and PO, sending for approval if discrepancies are found, entering the invoice into the accounting system and marking purchase orders after completion.
- AccountsFinance team receives invoice from multiple vendors.
- Every vendor sends the invoice information in different formattemplate.
- Human involvement leads to missed invoices to be processed, leading to unwanted financial loss.
- Chances of human errors while processing high volume of invoices.
How Avasoft helped?
- AVASOFT proposed the RPA enabled automated solution that would be able to receive invoice documents and access the accounting system to perform the vendor name and PO validations.
- As part of seamless process automation, AVASOFT structured the invoice data from their vendors.
- AVASOFT trained the bot to automate the process, which reads the invoice and logs the details into the CRM application.
- Accounts department resources have been relieved of the manual repeatable tasks.
- Robots can work 10 times faster than a human resource.
- Once all validations are passed, the invoice is entered into the accounting system, the PO status is updated and the email is moved from the NPO invoices to the processed folder.
- If any discrepancies are found in any level of the process, the same would be escalated for human intervention.
Tech Stack
Value Addition to Customer
- Eliminates human error by replacing the manual process of human activities by bot.
- Increase the speed of process by using the bot.
- ROI is increased by 87% on improving the delivery standards along with consistent quality.
- Allows the employees to concentrate on doing valuable and creative tasks.
- High quality service and secured process is achieved with accurate result.
Vertical Industries
- Manufacturing Industries
