Automate your Accounts Payable
Updated: Oct 4, 2021
Let us explain how Australian small to medium size businesses can start using disruptive technologies; i.e. Artificial Intelligence (AI), Optical Character Recognition (OCR), workflow and real time analytics to deliver significant measurable bottom line results.
Businesses today require an enormous amount of documentation to operate. This documentation whether it be sales order processing, invoice processing, journal entries, customer and vendor on boarding, customer service enquires etc. are predominately paper based and manually performed.
What are we solving
The challenge for small to medium Australian businesses is that unlike the multi-nationals and Fortune 200 companies they do not have the resources or the hundreds of thousands or millions of dollars for “digital transformations, end to end P2P projects, big data analytics projects and the list goes on”!
Another issue is that depending on where and who you get your information; Gartner, attending conferences, speaking to consultants or reading articles there are many definitions and “flavours” for IT acronyms and solutions which can be confusing.
What AI means and projects deploying AI in one organisation can be very different to an AI project in another company and have different connotations. The same is true for solutions.
how to start:
a digital transformation project in one company may be as simple as removing as much paper documentation as possible where in another company they may look to digitally integrate as many processes and systems throughout the business. This may incorporate using multiple technology “tools”; AI, RPA an OCR integrating sales, supply chain planning, procure to pay and financial systems in real time.
The goal is to automate these processes with little to no human intervention, across many different systems, provide real time visibility of information while increasing customer satisfaction and reducing costs.
This sounds good although somewhat confusing, expensive and time consuming!