Like many growing organizations, your current AP invoice processing system probably cannot keep up with increasing volumes of invoices and complex business guidelines for invoice processing.
- Are you still handling invoices manually?
- Do your employees still need to read every invoice one at a time, verify them with purchase order (PO) information and delivery information, approve each invoice, and then check the general ledger (GL) coding required for the items?
- Does your AP teamwork overtime and on weekends to deal with backlogs?
If the answer to these questions is Yes, then it is time to embrace invoice automation! with Hermes invoice automation software, you can process vendor invoices 24/7 using artificial intelligence (AI).
- Hermes uses a machine learning algorithm in its invoice processing software to learn vendor-specific data points and processes invoices accordingly.
- The system uses AI-powered Optical Character Recognition (OCR)to scan invoices, convert the information into structured data, and transfer it into your ERP system with 100% accuracy. Exceptions get reported for human review.
- Authorized members can access your invoices anytime and anywhere on the cloud.
- The system generates automated audit logs and reports based on customizable filters.
Here are some of the features of Hermes accounts payable automation that will help you save time and effort:
- Secure multi-factor authentication to log in.
- Automate invoice pickup from emails or SFTP.
- Set custom business rules based on vendor, approver, and company business units.
- Match data from invoices with purchase orders (PO) and inventory/delivery information.
- Customize approval workflow with triggers based on business rules.
- Map the correct general ledger (GL) code for the invoices.
- Send data back to the ERP using API integrations or using an SFTP.
- Archive data for IRS purposes.
- Design custom reports based on requirements.
Hermes AP automation solution allows your organization to switch to a hands-off-invoice processing software, freeing up your team’s precious time and resources. Say goodbye to costly data errors from manually tracking the thousands of invoices you receive every month. Our AI bots can automatically extract data from all formats of invoices, validate them, and upload the information into your ERP in the desired format.
- Your accounts payable (AP) team can utilize their time and energy on high-value tasks to improve the company’s ROI.
- Bottlenecks get removed, so you can pay your vendors on time and improve customer relationships.
- Your employees become 65% more productive.
- Data breaches and operational risks get reduced while data accessibility and transparency are enhanced.
- Your finance executives can easily see real-time snapshots of payables to aid in quicker decision-making.
If you’re ready to switch to automatic invoice processing then don’t hesitate to connect with us. We’ll analyze your current AP invoice processing system to identify bottlenecks and demonstrate how machine learning invoice processingcan reduce inefficiencies and transform your organization.