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May 18, 2021
Accounts Payable Vendor Invoice Processing An Automation Journey
A well-executed business strategy brings along a rapid growth and accelerated production; Furthermore, an increase in staff and customers.
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Transform your accounts payable department from cost center to profit center.
We know it requires reliable and optimal accounts payable (AP) invoice automation solutions to manage large volumes of invoices and financial transactions. We are introducing Hermes— an enterprise-level accounts payable software streamlining and automating AP processes to provide better control & visibility over critical financial data. Hermes uses AI-based OCR to extract data from invoices and Robotic Process Automation (RPA) to validate business-specific rules and automatically send invoices to your financial system.
Hermes is an automated invoice management software that will automate your overall invoice process end-to-end.
Improve your AP department’s efficiency and accuracy with accounts payable process automation empowered by Hermes. Let us help you:
Hermès uses robot process automation (RPA) to automatically input your invoice into your system. It reduces costs, decreases human errors, makes invoicing quicker, which translates to an overall increase in productivity. Even better, the solution is highly scalable, so you don’t have to worry about a sudden increase in vendor invoices when company sales go up.
Our accounts payable and expense management software can be deployed to work 24/7 – 365 days a year.
Hermes streamlines operations and reduces processing time from 8 minutes to 0.83 minutes, resulting in a whopping 90% savings.
Hermes takes less than 20 seconds to process an invoice. This boosts productivity by 65% while improving employee morale.
Digital invoices from vendors are read from emails or from Secure File Transfer Protocol(SFTP) network. Invoice scans are uploaded using the intuitive user interface and extracted into a machine-readable format using optical character recognition (OCR) technology.
Hermes is 100% accurate in processing invoice. All entries are checked against a master file, and any exceptions are flagged for manual processing by users you authorize. The system generates reports live.
Artificial Intelligence (AI) and machine learning (ML) are combined to build and automate custom business rules. The system uses automatic straight-through processing (STP). No manual intervention is required.
All processed invoices are stored in a file and can be retrieved by authorized users. Based on their roles and business units, users can retrieve those invoices for on-demand printing or generating reports for the senior management.
Hermes lets employees to focus on exceptions, deep dive Management Information (MI) analysis and other high-value work that will increase the profitability of the organization instead of repetitive and time-consuming tasks.
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Achieve a real-time overview of payable for proper decision making
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Discover approval bottlenecks, allowing you to pay vendors faster, and get more things done
Focus on high-value, high-ticket items with a direct impact on company’s bottom line
We use Artificial Intelligence AI) to understand the key processes and workflows and machine learning to automate and create custom business rules per vendor.
We use OCR to scan invoices and process them, turn the information into metadata, and input the data in your ERP system with little to no error
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We use a secured cloud-based system, so that you and your team can access the invoices with comfort from anywhere.
As your customers increase, you need to scale up to meet their demands when it comes to your supply. Unfortunately, you may find that encoding from manual data sources impedes operational sustainability. Here are some of common problems that you probably encounter on a day-to-day basis:
When this happens, you end up with delayed payments and unpaidinvoices, which can have a significant effect on customer service. Worse,unresolved A/P issues eventually have an impact on your bottom line.
Customer satisfaction is the key to our success. Find out what our customers are saying about Hermes A/P Automation.
Before we implemented Calpion’ s Hermes AP Automation Solution I had to constantly field calls from vendors asking status of payments on their invoice. My AP team was regularly behind schedule and we needed to work weekends to catch-up on the entry of invoices. Our accountants found many errors in the invoice key in process and it was a nightmare to track all the 1000s of invoices we received every week. Calpion’ s Hermes AP solution gave me the ability to move into a completely automated and hands off model where the Hermes bot was able to extract data for a vast majority of invoices, validate it with all of our business rules and upload it into our ERP in the format we had specified.
Do you want to gain real-time financial visibility & control throughout your business via compelling accounts payable process automation? Connect with us for a detailed analysis of your accounts payable system. We’ll help you identify bottlenecks and show how we can make the process efficient for your A/P department using RPA technology.
We aim to simplify your accounts payable processing for yourself, your vendors, and your team. Contact us today and learn how Hermes is the best AP automation software to reduce inefficiencies & optimize your processes. Ready to automate?
Allows your employees to focus on activities that are closer to the bottom line
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