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Business Need
Errors and delays in processing invoices led to inefficiencies and increased costs.
The company required a solution to automate the end-to-end invoice processing workflow, including 3-way matching with Purchase Order (PO) and Goods Receipt Note (GRN), and posting entries in the accounting tool.
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Solution offered
Invoice Processing Automation using Microsoft Power Platform, Data verse, and AI Builder for OCR (Optical Character Recognition).
3-way matching performed between PO, Invoice, and GRN data to validate invoice accuracy. Power Automate to orchestrate the workflow and automate approvals
Data managed in Data verse for seamless integration with other Microsoft apps
Entries posted in the accounting tool upon successful validation.
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Challenges
Ensuring OCR accuracy and reliability, especially for handwritten or poorly scanned invoices.
Integrating the solution seamlessly with existing ERP systems and accounting tools.
Exceptions and discrepancies in the 3-way matching process for specific cases.
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Outcomes
Drastically Reduced Invoice Processing Time.
Minimized errors and improved invoice Data Accuracy with AI-Based OCR
Enhanced Transparency with real-time tracking and monitoring of invoices
Streamlined and Efficient Invoice Processing
Enabled better cash flow management with Payment Calendars
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Approach
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Tech Stack
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