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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




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