Invoice Processing

Automation in Accounting

Overview

We automate the entire process of managing accounts payable and receivable, tailoring technological solutions to the specific processes and systems of the client.

Invoice processing includes registration, verification, posting, and payment reconciliation, which is time-consuming and prone to errors. We use intelligent document reading with a learning mechanism and automatic data integration and analysis.

Customer Challenges

Our Solution

Cost invoices and bulk reconciliations are received or retrieved from multiple sources and require categorization (e.g., email, EDI, KSeF, intermediary and freight forwarder systems, payment gateways)
Document source integration: automatic retrieval from various sources, uploading to systems, and categorization that allows assignment to the appropriate process flow
Manual data entry from invoices in various formats (e.g., scans, images, PDFs, XML) into ERP accounting systems
The selection of iOCR solutions enables effective data extraction from invoices and their integration into accounting/ERP systems, allowing for the registration of cost invoices
Invoice posting requires verification of vendor data, often cross-referencing with orders or performing a substantive check at the cost center, as well as assigning the appropriate accounts
Invoice posting based on established rules, automatic reconciliation with orders, and reporting of any discrepancies
Payment batch preparation requires liquidity analysis and adherence to internal rules for settling liabilities
Automated liquidity analysis and preparation of payment batches
Bank statement registration requires payment reconciliation, including bulk payments
Automated bank statement registration, followed by reconciliation of individual and bulk payments, and reporting of any discrepancies

Results:

The automated flow covering at least 80% of transactions leads to reduced settlement times, employee relief, and ensures high-quality data processing, resulting in an average annual return rate of 183%.
Payback period: 6-11 months
Annual return rate: 183% on average
Automated flow covers at least 80% of transactions
Reduced invoice settlement time
Employee relief and support
Ensured high-quality data processing
Confidence in settlement with contractors
Liquidity management support
Counteracting employee turnover
References

Proof of success – What do our clients say about us?