A revolution towards paperless and automated invoice processing

A single invoice can easily cost more than $10 to complete. Moreover, processing the same invoice can take up to 9 days. You will need an invoice processing automation system that combines artificial intelligence, machine learning, and natural language processing to reduce costs, shorten processing times, and provide actionable workflow insights.

Intelgic offers the invoice processing service you require to save time and money. With invoice automation, you can control the rising costs of invoice processing.

I wonder, why would you not do below five things to save time, cost, and substantially improve your company operations?

AP that does not use paper
Participation and empowerment of suppliers
Consent of invoices on the same day
Likelihood of taking advantage of potential early payment savings
Approval of invoices and communication through a mobile device

A robotic invoice processing that manages your most significant concerns

F&A teams usually have to deal with a large volume of supplier invoices every month. Monthly closure requirements and the fact that most suppliers usually send invoices end/beginning of the month raise the workload of your F&A teams and make invoice processing an excellent candidate for RPA.

A business that uses automated invoice processing performs remarkably better than those that do not. Paper invoices take more time and cost more to create due to laborious data entry and excessive exception handling.

Intelgic invoice processing bot -

Opens the SAP
Executes the right transactions
Checks if all the information on the invoice matches your internal purchase orders.
Log-ins to the ERP system
Checks if the corresponding goods receipt note (GRN) matches the Purchase Order plus the invoice.

Intelgic RPA tool helps automate end-to-end operations by capturing, classifying, and extracting data from any document type.

What makes Intelgic tools your finest choice?

Options for cloud, hybrid, and on-premise deployment
Capabilities for a multi-language, script, and excel extraction
The strength of AI and OCR collective
APIs and connections abound in this open systems design
RPA, ERP, BPM, and ECM connections that work seamlessly
RPA bot accesses the invoice data from the vendor management systems and effectively validates the actual invoice

95% Reduction in turnaround time
95% Reduction in manual efforts
99% Data accuracy

How does invoice processing work?

Monitoring of invoices: Invoices come in companies as structured XML records from Electronic Data Interchange (EDI), PDFs, and image files via email and increasingly seldom as hardcopy documents.
- EDI software can automatically process structured XML documents, construct the required payments and make the essential accounting entries.
- For digital invoices, an RPA bot or a simple email automation tool can flag emails with invoices and deliver them for data extraction. Some businesses use a dedicated email address for invoices to further streamline invoice monitoring.
- For hardcopy invoices, firms utilize a single address to centralize invoice scanning.
Invoice capture: Extracting relevant details like a bank account and order items from the invoice. If the software does not have conviction in the results, it is given to employees for a manual assessment.
Invoice evaluation against order records and standards - To ensure valid payments. Evaluations include -
- cross-checking invoices against purchase orders
- cross-checking invoice for duplicity
- using working capital optimization approaches to determine payment time
- Invoices that are abnormally enormous compared to a suppliers' standard invoices may need to be manually verified to ensure no incorrect payments.
- checking the invoice against VAT rules
Recording invoice-related information in systems- For this, invoices without purchase orders are added to a general ledger account, and machine learning solutions are applied to match the invoices.
Making the crucial payment to settle the invoice

Recast the method you process your invoice

Intelgic helps you cut the cost of invoicing by 70%, minimize invoice processing mistakes by 95%, and increase straight-through processing by 100% with a 95 % reduction in turnaround time and 95% reduction in manual efforts by automating invoice processing and related workflows.

Our Invoice Processing bot, which includes a built-in analytics engine, enables an end-to-end view of the entire invoice process as well as detailed insights into your financial data.

Intelligent Invoice Processing with AI and RPA

Intelgic bot reads every invoice that you receive through email, captures data such as line items, vendor name, etc., matches with the purchase order and receipts to ensure it matches before approving the invoice for payment. It allows you to enhance cycle times, compliance, supplier relationships, and early payment discount opportunities.

Managing invoice processing in many applications

Digitization of records in the government

Government organizations encumbered by paper document archives and desire to contemporize. Intelgic breakthrough capture and extraction technology can help you change any document-intensive process.

Processing is ten times faster
Data is secure and encrypted
Complies with regulatory and the data security requirements

Automation of the digital mailroom

Automate your mailroom and route incoming data as soon as it arrives at your company. Process invoices, claims, new accounts, contracts, and orders, and route the retrieved data to the appropriate workflow.

Digital processing of paper and digital materials at high speeds
Elimination of time-consuming, manual tasks
Customers who use mailroom automation are satisfied.

Accounts payable

The invoice processing system from Intelgic uses AI and OCR to automatically capture and extract data from invoices within a few seconds. Accounts payable; accounts receivable, and remittance processing can be automated.

An invoice takes 31 seconds to process.
Each day, 600 percent more invoices are processed.
ERP and Procure-to-Pay connections are seamless

Onboarding of customers and employees

All documents and data required for application validation, client onboarding, and employee onboarding are captured and processed by the Intelgic bot. Using powerful AI, our platform intelligently classifies, gathers, and extracts data to complete the onboarding process.

Enhance consumer and employee satisfaction
Fast and seamless document classification and data extraction

Extraction of identity

Allows your clients/prospects to submit their government-issued ID cards from any location in digital formats.

Over 2,000 driver's licenses and passports have been pre-trained
Eliminates the manual data entry of personal data
Accepts photos from mobile phones and tablets

Claims processing

Increase accuracy, response times, and customer happiness by processing claims, and underwriting paperwork more quickly.

Document capture and data extraction are fully automated.
Reduce the time it takes to process claims from months to days.
Increase response times and customer satisfaction by a significant amount.

Extraction of handwriting

Extract text from handwritten and cursive writing in your documents in seconds.

Data extraction aided by AI
The highest level of accuracy available on the market
Capture signatures and checkboxes.

Processing of loans

Automate mortgage service and processing to respond rapidly to volume swings and labor concerns. Intelgic improves the client experience and achieves zero-defect loans by speeding up mortgage processing and underwriting.