Automation of invoice processing
Robotic Process Automation
Processing invoices is a tedious and time-consuming process. Cut it down by up to 76%!
The average time to fully process an invoice is 10 minutes. A study by z Canon Business Process Services suggests that over half of all invoice processing requires at least 76% manual data entry.
Automating this process not only saves your business a huge amount of money, but also allows you to make better use of existing resources and reduce the risk of errors.
Invoice processing begins with receipt of the invoice and ends when payment is completed and recorded. Invoices can be in any format: PDF, image or email. Typically, the invoice is scanned or manually entered into the system. From there, the invoice must be entered for the correct accounts and cost locations in the projects. After that, the invoice must be sent for approval. This is a tedious process, and data must be manually copied from the PDF to the target system, which leaves space for human error.
Automation is the solution
Example of automating the invoicing process using RPA (UiPath):
Step 1: Supplier sends an invoice via email.
Step 2: Bot reads all messages and stores attachments (invoices) in local system.
Step 3: The invoice information is stored in variables. The bot automatically logs into the target system where the information is copied to the target application.
Step 4: After the data has been successfully imported into the target system, the invoices are moved to the “processed invoices” folder on the local system
Step 5: Finally, the data is saved and the application is closed.
RPA Bot – Less Cost, More Efficiency
quick implementation, quick benefits, automation of repetitive, monotonous activities and, as a result, reduction of invoice processing time by 70%
by eliminating errors caused by human factors
The bot is always available and can work non-stop. Thanks to this it completes tasks faster.
Increased productivity and better quality of work without costly modifications to processes that are already in place.
Skilled workers can take care of the work using their competences. Automatic activities are done for them by Bot.
Increased team productivity (employees can focus on other tasks).
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