Supplier Invoice Processing with AI-Powered Automation
Invoice Automation is the process of digitizing and streamlining the invoice handling and payment processes within an organization by involving our leveraging technology, MyiQ.Ai to automate manual tasks associated with invoice processing. MyiQ.Ai is a valuable tool for organizations looking to enhance efficiency, reduce costs, and strengthen financial management practices.
Effortless Supplier Invoice Automation Powered by ML and AI
- Our Supplier Invoice Automation module revolutionizes how businesses process and manage supplier invoices. Built on our cutting-edge ML and AI deep learning algorithm, our solution leverages pre-trained invoice templates with a vast database of up to a million records.
- This intelligent technology enables seamless invoice data extraction from various formats, including PDF, images (JPEG and PNG), XML, JSON, and EDI. With our advanced ML and AI capabilities, we bring automation to the forefront, simplifying invoice processing like never before.
Global Learning and Customer-Specific Models for Exception Handling
- Our ML engine is equipped with two distinct learning approaches. Global learning harnesses user patterns and behaviours across our global customer base, intelligently applying insights to recommend optimal invoice processing for all users.
- In addition, customer-specific learning understands and learns from each customer's unique error and exception-handling processes. It creates personalized models to automatically correct similar errors, ensuring seamless processing and improving accuracy over time.
Unlock Efficiency and Accuracy with Supplier Invoice Automation
- Experience the power of AI-driven automation with our Supplier Invoice Automation module. Say goodbye to manual invoice processing and embrace a streamlined, error-free approach.
- With ML and AI at its core, our solution effortlessly extracts invoice data from multiple formats, integrates seamlessly with leading ERPs, and offers exception management and automated notifications for smooth processing. Increase efficiency, reduce costs, and improve accuracy with our innovative invoice automation solution.
Exceptional Performance Metrics for Optimal Results
- Our Supplier Invoice Automation solution delivers outstanding performance, ensuring a seamless and efficient invoicing process. With a 99% uptime guarantee, our solution is always available to support your business operations. Achieving an impressive 95% accuracy rate, we minimize errors and guarantee reliable data extraction and validation.
- Experience significant time savings with our solution, boasting an 10X faster processing time than manual methods. Additionally, benefit from a remarkable 60% reduction in overall costs, optimizing your financial processes and driving greater efficiency.
Uptime
Accuracy
Invoices per min
Reduction in cost
How we do it?
Invoice Processing
Invoice Approval
Invoice Posting
Effortlessly Manage and Control Users
Our Supplier Invoice Automation solution is designed to easily handle high volumes of invoices. With the ability to process over 1000 invoices per minute, we ensure fast and efficient invoice processing, even during peak periods. Say goodbye to tedious manual data entry and embrace our solution's speed and accuracy, allowing you to focus on more value-added tasks for your business.
With MyiQ.Ai, we pioneered line-item matching for material and service purchase orders (POs) and contracts. Our advanced invoice automation solution goes beyond traditional matching, providing unparalleled accuracy in identifying and reconciling line items. This capability ensures adherence to contractual terms and optimizes financial processes, resulting in enhanced compliance and cost savings.
Our ML engine performs robust three-way matching and validation against the integrated ERP system, ensuring accuracy and minimizing errors. It proactively identifies exceptions and discrepancies, notifies users and automatically escalates notifications to the appropriate stakeholders within the organization. Our pre-built email notification templates facilitate clear and effective communication with suppliers and internal users, streamlining the resolution of invoice-related tasks.
