INTELLIGENT AUTOMATION CASE STUDY

InvoiceBotz AP Automation Software speeds Supplier Invoice processing by 80%

Industry : BPO and Business Services

Function : Accounting and Finance

Results

7,000 hours returned annually

7,000 hours returned annually

11.5 minutes saved per invoice

11.5 minutes saved per invoice

Improved payment accuracy and controls

Improved payment accuracy and controls

Company Profile

Worldwide digital company providing a trusted platform that brings together and interconnects foundational infrastructure. The company enables organizations to access all the right places, partners and possibilities to accelerate competitive advantage.

Automation Case Study Snapshot:

  • Industry : BPO and Business Services
  • Challenge : Manual invoice processing
  • Solution : InvoiceBotz AP Automation Software
  • Outcome : Supplier Invoices processed 80% faster

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Challenge: Manual processing of 50,000 plus Invoices

This organization’s accounts payable team received a high volume of invoices daily from suppliers across the globe.

The AP team would read invoices and enter the data in the Accounts Payable system (Oracle and Coupa) to match with purchase orders. Receiving invoices in multiple currencies required time consuming manual calculations and created opportunity for error. Leadership wanted a solution that could accurately handle the over 50,000 incoming invoices and scale to meet growing business needs.

Solution: InvoiceBotz AP Automation Software

InvoiceBotz AP Automation software is one of the WonderBotz prebuilt solutions. It uses AI Technology to ingest, interpret, and register invoices for payment in the AP system.

The solution monitors the invoice email inbox, generating a task for every received invoice. It then retrieves the invoice PDF, employing OCR to extract both header and line-item details efficiently.

The invoice data is then picked up by a digital worker who performs data cleansing and validation protocols before transferring the formatted data to Coupa. InvoiceBotz AP Automation Software saved the business 7,000 hours annually by reducing invoice processing time by 80% while increasing payment accuracy and controls.

Process logs are generated to maintain audit compliance and provide leadership with complete visibility into each step in the process.