Invoice pro­ces­sing rethought with AI

Apr 13, 2022

Arti­fi­cial intel­li­gence allows largely automatic pro­ces­sing of invoices. This reduces effort and runtimes. Our current webinar series presents modern AI approa­ches in purchase-to-pay (P2P) and order-to-cash (O2C) and shows solutions from practice.

An efficient P2P process creates com­pe­ti­ti­ve­ness and has a direct impact on a company’s cash flow, earnings and repu­ta­tion. At the same time, the pro­ces­sing of incoming invoices in par­ti­cular is often highly complex and involves many manual process steps. This creates dis­ad­van­tages such as a high sus­cep­ti­bi­lity to errors, lack of trans­pa­rency, long pro­ces­sing times with cor­re­spon­ding cash discount losses, signi­fi­cant process costs and ulti­m­ately sub­op­timal manage­ment of supplier rela­ti­onships.

Auto­ma­tion with modern AI solutions offers signi­fi­cant potential for impro­ve­ment here: for example, thanks to arti­fi­cial intel­li­gence, the BASF Group reduced the pro­ces­sing time of 3.5 million incoming invoices per year by 50 percent and was able to cut expenses by 40 FTEs. Modern cloud services make these solutions and per­for­mance gains easily and quickly available to medium-sized busi­nesses as well. Dr. Rainer Czech, Head of Business Unit P2P at Insiders Tech­no­lo­gies explains:

“Auto­ma­ting invoice pro­ces­sing using AI offers signi­fi­cant potential for savings. Meanwhile, such solutions are not only uncom­pli­cated and quick to implement, but also affordable for all companies”

In this webinar series, we will present how the purchase-to-pay and order-to-cash process can be automated up to complete dark pro­ces­sing with the help of AI-based data capture. The first webinar on April 26, 2022, will present how modern AI processes can extract all relevant invoice infor­ma­tion regard­less of layout and check invoices for content plau­si­bi­lity and formal cor­rect­ness. Through an intel­li­gent three-way match of invoice, order and delivery, a fully automated approval for correct invoices can be performed.

The other webinars will focus, for example, on the incre­asing occur­rence of e‑invoices in X‑invoice or ZUGFeRD format and their uniform pro­ces­sing. In addition, AI-based invoice pro­ces­sing will be discussed as a fully inte­grated process in SAP – from invoice receipt and approval to touchless pro­ces­sing – as well as the simple use of cloud services for invoice reading.

In our webinars, we use live pre­sen­ta­tions and concrete practical examples to show you which services are possible out-of-the-box with our smart INVOICE solution without long imple­men­ta­tion or training times. In addition, you can clarify your indi­vi­dual questions in a direct exchange with our experts.

View all topics and dates at a glance now and register for free!