Blog / News
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.
You have been driving the automation of your financial processes for years. And then you realize: there are still annoying losses due to inefficiency. For example, invoices that should process automatically but still get stuck in manual workflow loops for 2 to 5 days.
Invoice receipt in SAP - today this essentially runs automatically in large companies. Usually smoothly and quickly, as long as the relevant information for automatic account assignment is within the invoice data received.
You know the drill! The accounting department is expecting purchase orders that are correctly allocated. However, the purchasing department does not have the time or all the necessary information, so they sometimes use just any account assignment.
The first avvaneo User Group was a great success. Presentation by Porsche on the use of artificial intelligence for financial processes with avvaneo Expedite deserves special mention.
Until now, the automation of general expense invoices was limited. We have analyzed how AI can overcome these limitations.
Assigning the correct cost elements and G/L accounts to incoming invoices is a time-consuming task for finance teams.
How much automation is possible?
The use of AI in finance departments allows automation for processes that previously had to be handled manually. Read our analysis of real data of a company on the potential of using AI.
In December, avvaneo attended the inaugural meeting of AIF, where members of the association discussed plans for the sharing of information and knowledge to ensure the region has access to the best talent and resources to hasten AI developments that will benefit citizens most.