IntelliBuddies® and Invoice Processing
Processing of incoming invoices involves downloading invoice copies from emails, extracting the relevant data, validating the details, and keying in data into various desperate systems. This entire set of activities is time consuming and repetitive in nature. Many a times this causes a backlog and results in late payment penalties. This invoice processing is also time consuming and error prone when done manually.
IntelliBuddies® in Action
Automated Invoice Processing
IntelliBuddies® is a full stack RPA platform that provides an efficient way to handle incoming invoices and automates the entire Invoice processing. Buddies keep their eyes on emails to
extract incoming invoices by using Natural Language Processing (NLP) and cherry pick the necessary details. Buddies download the invoice attachments and extract the key information such as invoice number, PO details, total payables using powerful OCR engine. IntelliBuddies® AI based document extraction engine is used to automatically understand the suppliers and their invoice formats without manually training each format. Once the data is extracted Buddies can perform various validations as per business rules and route the invoices to appropriate departments for approvals. After approval, Buddies key-in the invoice details in backend ERP system or accounting software for payment processing.
IntelliBuddies® powered by its Buddies and infused AI, ML, provides the right and powerful invoice processing tool to the organizations to easily manage their invoices. Their accuracy of processing in a timebound manner minimizes financial losses due to late payment.