AI solves assignment problems faster than humans - Part 2
Fully exploiting efficiency potential
Too many invoices do not find their way into the correct workflow automatically? You are not alone with this issue. In many companies with automatic invoice processing, up to 15% of incoming invoices are routed incorrectly. Sometimes the mistake is made by the system, sometimes by a person.
The result is the same every time: More work, more cost and, on top of that, lost discounts. This can quickly amount to many thousands of Dollars per month, which virtually fly out the window. avvaneo Discover allows you to analyze your current situation thoroughly and precisely (Part 1).
avvaneo Expedite is the application that goes one step further: it eliminates the problem for the most part automatically – by means of self-learning software.
AI for optimizing automatic allocation - an investment that can very quickly pay for itself
avvaneo Expedite contains a ready-made AI module that has already proven itself in actual use with customers. One advantage: the tool can continuously improve its performance on its own. As a result, the return on investment will increase over time. Depending on the individual requirements , the costs of the implementation can be recovered surprisingly quickly.
What happens in the process? The software detects recurring patterns in the captured transactions. To do this, all the data found on the invoices is observed – including quantities or item numbers - and is correlated with the recipients who were positively identified as correct. The relevant patterns are learned and considered in the automatic assignments.
For the performance of the AI tool to accelerate quickly, only one thing is important: the AI must be trained initially on the company-specific task using well-prepared test data. After that, it continues to learn on its own and automatically reduces its error rate more and more. Continuously from day to day, from week to week.
The result could be understood as a much finer, multidimensional assignment table, which keeps itself up to date dynamically and even continues to optimize itself.
The two-fold benefit of avvaneo Expedite in practice
With avvaneo Expedite, you basically get two optimizations in one.
First optimization: Your systems automatically refer to the self-generated assignments if the routing information is not available from the invoice data. You see the effect in that more incoming invoices find their way to the correct recipient automatically - the automation level increases.
Second optimization: If manual post-processing is still desired or necessary (e.g., after a misrouting), the processors receive AI-supported recommendations that have a high degree of reliability. This minimizes tedious reading of the entire invoice text - manual processing times are reduced.
Is it difficult to implement this AI tool?
Is avvaneo Expedite a worthwhile investment for your company or not? Expedite is basically an additional feature. It can be integrated quickly and smoothly into automated financial processes in the SAP environment in most cases. It is important that the solution initially receives "clean" training data. In ongoing operations, the above-mentioned two-fold benefit is achieved quite quickly, meaning that you save the money that you still spend today on countless corrections of assignment errors.