SOLUTIONS BY PROCESS
FINANCE AND ACCOUNTING AUTOMATIC PROCESSING
E-voluciona helps organizations improve operational performance while reducing costs and risk. How do we do this? By combining our unique experience with our innovation toolkit and extensive business knowledge.
Finance leaders must find ways to achieve their top target: paying invoices on time, while simplifying the approval route and handling exceptions.
E-voluciona offers AP departments a new way of invoicing automation. Based on Robotic Process Automation (RPA), this type of automation has a low impact on both capital and operational expenses and means no IT burden on current systems.
Challenges to achieve an efficient and error-free AP Department
Despite the promise (and hype) of electronic invoicing, uptake among suppliers remains disappointing, and companies don’t expect it to increase significantly any time soon. The vast majority of invoices arrive as paper documents, fax documents, or PDF email attachments. Few are alike, so manual handling is tedious.
Manual processing extends to resolving discrepancies. Automating approval and exceptions workflows are companies’ top AP priorities.
The AP staff also transfers data manually from different invoice formats to the corporate standard format. This repetitive task is slow and prone to human error. What initially appears to be a series of straightforward AP activities reveals itself as a complex and inefficient process. However, optimizing this process can easily transform inefficiencies into financial and organizational reward.
The adoption of data extraction and/or image recognition technologies is still at an early stage. This is a challenge that finance areas must embrace in order to ensure and improve the percentage of invoices paid on time.
OUR SOLUTION
Automated data capture and data entry
Approval and exception resolution
Configurable workflow automation rules
Regulatory compliance and governance
Flexible & adaptive
MAIN BENEFITS
Standardization of invoicing process
Efficiency boosted by operational cost reductions
Regulation and risk management compliance
Traceability over process, planning and budget forecasting. Real-time and up to date visibility of all pending debt.
Focus on orders including invoice discrepancies
Validated invoices recognized in the ERP
Cash flow and performance management