Intelligent Invoice Automation (IIA)

Intelligent Invoice Automation (IIA) is an advanced solution designed to streamline and automate invoice processing using AI, machine learning, and OCR (Optical Character Recognition) technology. It eliminates manual data entry, reduces errors, and accelerates invoice approvals, making financial workflows more efficient.

Benefits

• Cost Savings: Minimizes errors, preventing costly mistakes and late payment penalties.
• Accuracy & Compliance: AI-driven validation ensures data accuracy and compliance with financial regulations.
• Seamless Integration: Easily integrates with existing ERP and accounting systems.
• Scalability: Handles high volumes of invoices with minimal human intervention.
• Time Efficiency: Automates invoice processing, reducing manual effort and speeding up approvals.

How is the solution being used

• Invoice Capture: Uses OCR and AI to extract data from invoices (PDFs, emails, scanned copies).
• Data Validation: Cross-checks extracted information with databases for accuracy.
• Approval Workflow: Routes invoices to the appropriate personnel for review and approval.
• Integration with ERP/Accounting Software: Syncs processed invoices with finance systems.
• Payment Processing: Automates payments and reconciliations.
• Reporting & Insights: Provides analytics on spending, vendor performance, and compliance.

Audience

• Finance & Accounting Teams: Automates AP processes, reducing workload.
• Enterprises & SMEs: Businesses looking to optimize invoice processing and compliance.
• Procurement & Supply Chain Managers: Ensures accurate invoice validation.
• Retail & E-commerce: Handles large volumes of invoices from multiple vendors.

Technologies

• Power Apps
• SharePoint
• Power Automate
• Outlook Integration
• Collections & Patch Functions