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INVOICE PROCESSING

Streamline Accounts Payable with AI-led Invoice Processing Automation & Outsourcing Solutions

Enhance finance operations with AI-led invoice processing automation. Streamline accounts payable and outsource for efficient invoice automation.

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Vulnerable to processing error?

Extracting data from multiple invoices across vendors can become a tedious task. Further, inconsistent formats, physical invoices, variable incoming sources, and missing line items can cause errors in extracting and recording the necessary data.

SOLUTION

Track invoices with seamless accuracy

DocVu.AI’s Intelligent invoice processing solution uses AI to identify, capture, classify, and record invoices automatically, irrespective of their formats, within minutes. DocVu.AI’s templateless invoice processing extracts information fast and eliminates efficiency bottlenecks to accelerate invoice management and track transactions effortlessly.

Value Propositions

Why AP teams prefer DocVu.AI to reduce invoice processing time?

DocVu.AI’s Intelligent Document Processing platform streamlines AP operations with greater agility, flexibility and accuracy.

INTELLIGENT INVOICE

Templateless and intelligent invoice processing

Extract and record transactions across vendors and invoices irrespective of the source or format. Have a simple standard invoice processing format for better clarity on accounts payables.
Signature Verification

Fraud detection and signature verification

Identify fraudulent invoices or signatures with AI-based pattern recognition engine to keep your financial data safe.
Document Indexing

Accurate document indexing

Index your invoices better to have a clear record of every transaction and reduce complications during settlements.
Electronic Invoices

Electronic issuance, transmission, and receiving of invoices

Collect and send invoices over electronic media and declutter your office desk from piles of physical invoices.

End-to-end automated Invoice processing Workflow

Choose AI-led Invoice Processing Automation and Outsource Your Invoice Management!

Talk to an expert

Make invoice processing efficient and accurate with DocVu.AI.

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How would you like to partner with us?

Want to know how DocVu.AI makes  document processing efficient? Get in touch with us!

Frequently Asked Questions

Accounts Payable automation refers to streamlining and automating the tasks and workflows involved in managing and processing accounts payable (AP) functions within an organization. It involves the use of technology, such as software solutions and robotic process automation (RPA), to automate and optimize invoice processing, payment approvals, vendor management, and reconciliation tasks.

AP automation streamlines and automates accounts payable processes. Invoices are captured using OCR and data extraction. The software validates and verifies invoice data, routes them through automated approval workflows, and initiates payments. Reporting and analytics provide real-time visibility. Integration with ERP systems enables data synchronization. AP automation improves efficiency, reduces errors, speeds processing, and enhances control over AP functions.
An AI-automated solution for invoice processing streamlines and optimizes invoice handling. It captures invoice data using OCR, extracts key information, validates and verifies data, automates workflows, integrates with accounting systems, and provides reporting and analytics. This solution reduces manual effort, minimizes errors, speeds processing, and improves efficiency.

Automating invoice processing with AI involves the use of artificial intelligence to streamline and optimize the handling of invoices. AI automates data extraction, validation, verification, and workflow management. It captures invoices, extracts information, validates data, and facilitates automated approval workflows. Integration with accounting systems and advanced analytics enhances efficiency and accuracy in invoice processing.

DocVu.AI uses OCR technology to efficiently ingest invoices, extract critical data, and undergo a rigorous 3-way match process. By validating the extracted data and cross-referencing it with relevant documents, DocVu.AI ensures accuracy and integrity. The solution further automates approval workflows, handles exceptions seamlessly, integrates with financial systems, and provides in-depth analytics for monitoring and continuous improvement.
Invoice automation refers to using technology and automated processes to streamline and simplify the handling of invoices within an organization. It involves replacing manual, paper-based tasks with digital solutions to digitize, capture, process, and manage invoices more efficiently.

Automated accounts payable process offer several benefits:

  • Time and cost savings
  • Improved efficiency and accuracy
  • Enhanced vendor relationships
  • Streamlined workflows
  • Increased visibility and control
  • Compliance and audit readiness
  • Data analytics and insights
  • Environmental sustainability
The cost savings resulting from accounts payable (AP) automation can vary depending on the size and complexity of the business, as well as the level of manual processes being replaced. However, studies and industry reports suggest businesses can achieve significant savings through AP automation. Estimates range from 40% to 80% reduction in invoice processing costs compared to manual processes.
Accounts payable automation software detects and deters fraud through various measures. It employs fraud detection algorithms to identify suspicious patterns and anomalies, performs validation checks on invoice data, incorporates matching capabilities to compare invoices with purchase orders, and enforces approval workflows with the segregation of duties. The software also manages vendor information, implements access controls and security measures, maintains an audit trail, and provides reporting for fraud detection and investigation.
Yes, AP (Accounts Payable) automation systems can integrate with other accounting software.
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