Supplier Invoice Processing is a critical function of Accounts Payable, involving the end-to-end management of invoices from collection to payment. Traditional manual processes are slow, error-prone, and costly, leading to inefficiencies, compliance risks, and delays in payments. Our AI-driven solution automates and optimizes invoice processing, enabling businesses to improve accuracy, reduce manual effort, and accelerate approvals.
Manual invoice processing presents several challenges that impact business efficiency:
Our AI-powered Supplier Invoice Processing solution is built on a structured, four-tiered framework with complete orchestration that harnesses Intelligent Process Automation technologies to enhance operational efficiency, accuracy, and customer engagement.
Leveraging RPA technology, invoices and related data are effortlessly gathered from multiple sources, including email, shared folders, supplier portals, and ERP applications.
Leveraging the BMAAI-API platform (Botmantra’s proprietary Agentic AI API platform), precise data is extracted from various documents, such as invoices and purchase orders, down to the finest details, including item descriptions, payment terms, tax information, round-off amounts, and more.
By leveraging RPA technology, all details are systematically entered based on the business mapping file, which directs the BOT to assign values such as GL code, company code, supplier code, cost center, and WBSE. The system also supports inter-company postings. Any required approvals can be routed for human intervention before proceeding. Upon posting, a unique identifier is generated and extracted for future reference and auditing.
By leveraging Botmantra’s low-code application, the finance team can track invoice aging at each stage, gaining visibility into the number of invoices in progress and identifying responsible individuals. The app enables swift corrections for invoices flagged for manual intervention, ensuring timely processing. Managing the entire supplier invoice lifecycle, the application provides a comprehensive dashboard with data slicing capabilities for enhanced management visibility.
Automating complete Invoice Processing for leading manufacturer & Supplier of Fire Protection System, headquartered in Middle East
Business Problem
The client is experiencing inefficiencies in processing supplier invoices due to excessive manual effort, leading to payment delays. The high volume of supplier follow-ups is increasing the workload of the accounts payable team. A significant challenge is matching invoices with PO line items to ensure accurate processing. Furthermore, invoices are received at the corporate office, but based on the PO details, an Inter-Company Transfer (ICT) needs to be performed to allocate costs to the appropriate sister concerns. Manually managing this adds complexity and increases the risk of errors.
To overcome these challenges, the client seeks a technology-driven solution to automate and streamline the invoice processing workflow, minimize errors, and enhance payment accuracy and efficiency.
Solution
We implemented an Agentic framework-driven invoice processing solution, leveraging OCR, GenAI, and RPA to automate and optimize workflows.
Outcome
This intelligent automation solution enhances accuracy, minimizes manual intervention, and ensures seamless processing of invoices and Inter Company Transfer allocations.
Details coming soon… Stay tuned!
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