Automating AP Processes
For A fortune 100 Manufacturing Company through AI-enabled Platform
As the technology has evolved over the years, automation for accounts and finance
departments of any industry can be easily implemented. Documents such as invoices,
receipts, and so on can be processed completely without manual intervention.
This saves enterprises the cost of human resources while increasing revenue and
productivity. It also helps in streamlining document processing during peak business
seasons and therefore, documents can be processed seamlessly when the load of work
Manual Document Processing challenges :
Slow transaction turnaround time as it took several days to complete the end-to-end process of each invoice.
High cost of operations for human resources
Increase in data entry inaccuracies leading to loss of business due to rework.
Dissatisfied vendors due to long delays in generating invoices.
Unexpected charges are levied as a penalty due to late payments.