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Submitted URL: https://www3.e42.ai/go?s=yEgyB0WYxQEpR6xehzCs-H4AWy_M57nn2TOluaL0RMxy8n69uDqEiWaLcND0IGbPDaZSYSdoYhAHdko3wy_T_BZPWm2...
Effective URL: https://e42.ai/accounts-payable-automation/?utm_medium=email&utm_source=Outbound&utm_campaign=WDEC
Submission: On March 28 via api from US — Scanned from DE
Effective URL: https://e42.ai/accounts-payable-automation/?utm_medium=email&utm_source=Outbound&utm_campaign=WDEC
Submission: On March 28 via api from US — Scanned from DE
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Text Content
Talk to us! END-TO-END ACCOUNTS PAYABLE AUTOMATION WITH AI Unlock the highest levels of straight-through processing (STP) and streamline your AP workflows with Neil, an AI Accounts Payable Executive, your one-stop solution to all your AP woes! From monitoring emails across channels to processing invoices to running n-way matches to the final entry into the ERP and everything in between, Neil handles it all—single-handedly, without human intervention. Talk to us! 0 million+ Invoices processed 0 + Clients served 0 + Systems integrated with 0 % Extraction accuracy 0 % Straight-through processing (STP) ROI in 0 Weeks 0 Languages supported NEIL, YOUR AI ACCOUNTS PAYABLE EXECUTIVE—FEATURES Invoice processing across channels Integration with ERP systems Accurate and fault tolerant ICR Automated and real-time communication with vendors 24*7 availability to handle vendor queries AI workflows Powerful dashboard with up-to-date reports managing a large volume of invoices coming in from varied channels (chat, vendor portal, inbound emails, etc.) without human intervention QuickBooks, NetSuite, Oracle, Infor SunSystems, SAP, and more – you name it, we got it! Intelligent Document Processing (IDP) with machine learning and NLP resulting in precise extraction of critical data from invoices for missing or incorrect information in invoices for correction on status, transactions, and more! Pre-trained on Accounts Payable workflows, invoice formats, and AP process logic on payments completed, due, and pending, as well as spend analysis Invoice processing across channels managing a large volume of invoices coming in from varied channels (chat, vendor portal, inbound emails, etc), without human intervention Integration with ERP systems QuickBooks, NetSuite, Oracle, Infor SunSystems, SAP, and more – you name it, we got it! Accurate and fault-tolerant ICR Intelligent Document Processing (IDP) with machine learning and NLP resulting in precise extraction of critical data from invoices Automated and real-time communication with vendors for missing or incorrect information in invoices for correction 24*7 availability to handle vendor queries on status, transactions, and more! AI workflows Pre-trained on Accounts Payable workflows, invoice formats, and AP process logic Powerful dashboard with up-to-date reports on payments completed, due, and pending, as well as spend analysis WHY HIRE AN AI ACCOUNTS PAYABLE EXECUTIVE? * Achieve 90% straight-through processing (STP) rates * Reduce the TAT and ensure payments are authorized and processed on time while adhering to company policies and business rules * Eliminate the chances of missing invoices * Bring in the accuracy you desire in the activities like n-way matching, GL code mapping, etc. * Leverage timely payments—avert late payment fees and penalties, secure vendor discounts, and enhance vendor relationships. * Efficiently manage vendor relationships automatically addressing and communicating issues—ensuring there’re no irate vendors * Reinforce proper controls to detect and prevent fraud, reduce delays in financial closure, and secure better visibility of the process * Get rid of the high cost of ownership and brittleness of the existing technology like the inability of RPA systems to adapt to changes and OCR’s inability to process complex data with Cognitive Process Automation (CPA)-led, ICR-enabled AP automation. Talk to us! COGNITIVE PROCESS AUTOMATION (CPA) VS RPA: WHY CHOOSE CPA FOR YOUR AP PROCESS Capability Cognitive Process Automation (CPA) Robotic Process Automation (RPA) Straight-Through Processing (STP) 95% STP without the need for invoice template preparation Typically involves partial automation, often requiring predefined templates Learning and Adaptability Learns from past invoices, identifies patterns, and predicts errors Limited learning capabilities; requires explicit programming for changes Fraud Prevention Includes features like handwriting extraction to prevent invoice fraud Basic rule-based fraud detection, may not be as sophisticated Predictive Learning Takes actions to prevent or correct errors in future invoices Lacks sophisticated predictive capabilities; reactive rather than proactive Workflow Optimization Optimizes AP workflows through reinforcement learning Follows pre-defined rules and requires significant programming changes Data Analysis and Extraction Utilizes NLP-powered techniques for accurate identification and extraction in processing invoices and financial documents Primarily relies on rule-based extraction; less effective for unstructured data Total Cost of Ownership (TCO) Lower TCO due to higher levels of automation, adaptability, and reduced need for manual intervention, resulting in overall cost savings in AP operations Higher TCO w.r.t AP operations due to the need for continuous manual intervention Human Error Mitigation Minimizes human errors in AP process through advanced learning and adaptive capabilities Prone to human errors, especially when dealing with unstructured data in AP process DIGITALLY TRANSFORM YOUR ACCOUNTS PAYABLE FUNCTION IN A WEEK! Deployment within a week Integration with QuickBooks, SAP, Oracle, NetSuite, and more Free training and 24*7 platform support User-friendly interface Zero manual intervention Value-based pricing FAQS Got questions? Find the answers here or just get in touch with us right here! Talk to us! How does AP automation streamline the invoice approval process? AP automation leverages technologies like Cognitive Process Automation (CPA) to intelligently route invoices, automate approvals, and significantly reduce processing times, ensuring a streamlined and efficient approval process. Is AP automation capable of preventing duplicate payments? Absolutely! AP automation tools, including Neil—an AI AP Executive, employ advanced algorithms and real-time validation checks to identify and prevent duplicate payments, safeguarding your financial processes. How much economic efficiency can a company achieve by doing end-to-end AP automation? End-to-end AP automation can significantly enhance economic efficiency, saving costs tied to manual processing, reducing errors, and optimizing resource allocation. Recent results from E42 in the manufacturing sector include 96% accuracy in data extraction and saving 100 person-days monthly. Does AP automation software act as a deterrent to invoice fraud? Yes, AP automation enhances security measures by implementing validation protocols, such as GST matching and bank details verification, effectively deterring invoice fraud and ensuring the authenticity of vendor invoices. The system conducts 2-way, 3-way, and n-way matches, along with reconfirming with vendors and matching against government portals for added verification. How does AP automation handle the intake of vendor invoices? AP automation efficiently handles vendor invoices by leveraging technologies like Intelligent Document Processing (IDP) and Natural Language Processing (NLP) to extract data accurately from diverse invoice formats, streamlining the intake process. In what manner does AP automation support invoice approval workflows? AP automation supports invoice approval workflows by automating the routing of invoices based on predefined rules, obtaining necessary approvals digitally, and providing real-time visibility into the approval status for efficient decision-making. What is the average time required for new data ingestion with E42's end-to-end automation? End-to-end AP automation with Neil drastically reduces data ingestion time compared to manual processing and semi-automated methods. While manual processing and industry averages may take up to 2 weeks, semi-automated processes with OCR might require 1 week. In contrast, Neil achieves this task in a mere 15 minutes, ensuring swift and efficient data ingestion. Do vendors actively engage with AP automation software? Yes, vendors benefit from streamlined communication through AP Automation. Automated systems provide real-time status updates, secure portals, and efficient communication channels, enhancing collaboration between businesses and their vendors. Will AP automation permit the invitation of external users or vendors for invoice-related queries? Yes, AP automation solutions can be configured to allow external users or vendors to participate in the invoice-related communication process, promoting transparency and effective collaboration. Why should I choose CPA-led AP automation instead of RPA-led AP automation? The choice lies in CPA’s superior understanding, decision-making capabilities, and adaptability when dealing with complex tasks. Not only does CPA provide these advantages, but it also boasts a lower total cost of ownership (TCO) and ensures better scalability compared to RPA-led solutions. How much advantage does Intelligent Character Recognition have in document processing over Optical Character Recognition? Intelligent Character Recognition (ICR) surpasses Optical Character Recognition (OCR) in document processing, recognizing characters and understanding context. This enables more accurate data extraction, including the capability to process handwritten invoices. How long will it take for you to deploy the solution? The deployment process typically takes 4-6 weeks (about one and a half months) to complete. How are validations managed for non-PO based invoices in AP Automation? Validations for non-PO based invoices in AP automation are conducted using data from Goods Receipt Note (GRN) or Service Receipt Note (SRN) or through an approval routing flow. ABOUT E42 E42 is a no-code Cognitive Process Automation (CPA) platform to build AI co-workers with human-like capabilities that automate enterprise processes across functions—empowering humans and enterprises alike. From HR, marketing, and business development to finance, IT operations, and more—the intelligent AI co-workers built on E42 are equipped to handle each process at a never-before speed and accuracy. MAKE YOUR ACCOUNTS PAYABLE PROCESS INTELLIGENT Get in touch with us for your invoice process automation needs today! Talk to us! Technology for building smarter products and services, one interaction at a time. Email: interact@e42.ai FUNCTIONS MARKETING AND SALES CUSTOMER SUCCESS HUMAN RESOURCES IT OPERATIONS FINANCE LEGAL QUICK LINKS PARTNER NETWORK FRAMEWORK - PAAS TECHNOLOGY STACK MARKETPLACE PRICING CONTACT US OFFICES (MON. TO FRI. 10 AM TO 6 PM) INDIA MARISOFT -1 , 5TH FLOOR, MARIGOLD COMPLEX , KALYANI NAGAR. 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The company has zero tolerance for prejudice, gender bias, and sexual harassment. For a comprehensive overview of our safety policy, please feel free to contact us at interact@e42.ai ENTER YOUR DETAILS TO DOWNLOAD! Full Name Business Email Download Now