Accounts Payable end to end invoice processing
Accounts payable for all businesses is a manual process, no matter what AP system is used. ProcessX has developed intelligent automations that has enabled straight through processing from receiving the invoice to submitting into the finance system.
The organisation’s accounts payable process relied on a 15-person team to perform manual, repetitive tasks, which resulted in significant inefficiencies and elevated operational costs. Compounding the problem, roughly one-quarter of all invoices contained errors and could not successfully pass three-way matching, leading to delays and rework. Additionally, there was no formal approval workflow for Non-PO invoices, leaving the company vulnerable from an audit-readiness and internal-control standpoint.
The invoice processing system was transformed through automation using UiPath Document Understanding, incorporating custom validations and machine learning models to streamline operations. A “Human-in-the-Loop” workflow was introduced to manage exceptions more effectively and enhance matching accuracy. Furthermore, the solution enabled continuous improvement by implementing feedback loops and training models with supplier-specific data.
- Achieved 70% time savings in Purchase Order (PO) invoice processing, resulting in an overall reduction of 4 Full-Time Equivalent (FTE) roles and eliminating the dependency on external contractors.
- Improved data accuracy to 80% and climbing, leveraging automated retraining to continuously enhance the quality and reliability of invoice processing.
- Digitized Non-PO invoice workflows, introducing streamlined, compliant processes that support better visibility and control.
- Standardized document storage and audit trails, significantly simplifying compliance, governance, and audit readiness.
