Accounts Payable Invoices Automation | WorkFusion

Accounts Payable: Extracting, Structuring and Entering Invoice Data into SAP

Invoice handling is a common problem for companies of every size in every industry
Problem

While all invoices include similar fields, they are sent to AP operations in hundreds, sometimes thousands, of different formats from different suppliers. The work of extracting data from each invoice and entering it into applications like SAP is repetitive, but variability of the formats makes it very difficult and expensive to program “if-then- else” rules in RPA. The frequency of changes to these documents makes a template-based automation approach even more difficult, and cloud-based AI solutions are too expensive and require data science expertise. Additionally, manual processing is time- and labor-intensive, and exceptions must be handled on a case-by-case basis.

Solution

WorkFusion SPA provides reusable components that AP teams can quickly configure, without IT support, to automate their unique invoice- handling process. OCR captures and digitizes text, and SPA creates cognitive bots to extract key data with its patented Process AutoML, which uses historical and real-time human work to train machine learning models. SPA automatically flags missing or unreadable information as exceptions and routes tasks to the right people. Each manual intervention improves the completeness and confidence of machine learning models, which makes cognitive bots smarter and more accurate. Finally, RPA bots send validated payment requests to Accounts Payable for processing. These same capabilities can be used to extract and structure data from any type of document, such as bills of lading, hospital bills, credit letters and mortgage deeds.

Impact
58%
Straight-through processing (STP)
99%
Quality
Find out more about the AI-driven RPA capabilities in WorkFusion’s Smart Process Automation and how we automate work that’s too complex for rules by turning high-volume data into smarter automation.
Case Studies
Webinars
Reports
Blog

Automation of Trade Finance

This operations team used SPA to fully automate a process, using RPA and Cognitive Automation to accept, classify and extract data, plus update systems with greater efficiency.

Accounts Payable Invoices Automation

WorkFusion SPA provides reusable components that any company's Accounts Payable teams can quickly configure, without IT support, to automate their unique invoice handling process.

Email task routing automation

Using SPA, this customer's operations team configured a workflow that ingests and digitizes emails, then executes requests or routes them to the right person.

Anti–Money Laundering: Improving compliance and reducing cost with AI

PwC’s Michael Lammie, Director of its Financial Crimes Unit, joins with WorkFusion experts to walk through the latest developments in Anti–Money Laundering efforts.

The State of Intelligent Automation: Bots that Learn

Where do you go when you hit the limits of RPA 1.0? Learn how AI-driven process automation works and how it complements existing RPA programs.

The Phases of an IA Project: A Deep Case Study of Email Intake Processes

What happens during an Intelligent Automation project? Walk through the phases of an automation project for email intake.

Everest Group’s Intelligent Document Processing PEAK Matrix™ 2019

In this important Everest Group analysis, learn why WorkFusion was recognized for its vision and capability, and was named as a leader among the intelligent document processing vendor landscape.

Robotic Process Automation Game Changers Advance Financial Services Institutions Toward Intelligent Digital Workforce

What does “intelligence” really mean in a process automation software product, and what are the critical capabilities? Find out in this licensed report.

Times UK/Raconteur Special Report: AI for Business 2019 

This “Artificial Intelligence for Business” special report, originally published in The Sunday Times, UK, considers how global enterprise is responding to business innovation and explores some of the opportunities provided by machine learning and artificial intelligence. 

IDP Webinar Follow-up: We Answer 5 Bonus Audience Questions

WorkFusion recently hosted an informative webinar on the opportunities and benefits of intelligent document processing (IDP) — featuring Anil Vi...

If You’re Only Automating with RPA, You’re Playing the Short Game

New Everest Group research explains: For long-term success, companies need Intelligent Automation solutions with integrated AI Automating purely to r...

Intelligent Document Processing, the New Enterprise Technology Superpower

Robotic process automation (RPA) is one of the fastest-growing sectors in business, but it can deliver even more benefit to users with an injection of...