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

Non-standard invoicing

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.

Discrepancies & approvals

Manual processing extends to resolving discrepancies. Automating approval and exceptions workflows are companies’ top AP priorities.

Unstructured data

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.

Technology Adoption

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.