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Cost down and quality up

Company

Manufacturer of metal products.

Challenge

The handling of received invoices was a paper-intensive task that required a significant amount of worktime among fulltime employees each month. Human error happened and were in some cases  costly. Further, there was some concern about fraud. Additionally, slow processing of these invoices caused several delayed payments and resulted in expensive fines. While the processes involved are largely rule-based, invoices sent by various companies often differ in their format. As a result, in order to automate their processing, the company needed a solution for reading and utilising unstructured information.

Solution

With a combination of patented visual-recognition technology and optical character recognition (OCR), our robots scan, digitise, and validate key data from invoices – and then automatically upload it to the invoicing platform. This way, finance and accounting departments were able to offload this repetitive task from full-time employees to software robots while expediting the handling of this paperwork.

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Decreased risk of fines for late payments.

Accelerated processing of invoices.

Prevention of costly errors while processing invoices.

Less financial penalties for late or incomplete payments.