Invoice processing rethought with AI

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.

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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.

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