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AstuteAP
An advanced AI-enabled Accounts Payable Automation tool for ERP systems (PeopleSoft, Banner, EBS, JDE)
AstuteAP
An advanced AI-enabled Supplier Invoice processing Automation tool for ERP systems (PeopleSoft, Banner, EBS, JDE)
What is AI AP Invoice Automation?
AI AP Invoice Automation streamlines the process of handling supplier invoices by converting them into a digital format utilizing an Artificial Intelligence engine and then managing them through an intelligent workflow. This digitalization allows for faster processing, error reduction, and greater visibility into the payment and reconciliation process. Ultimately, it helps organizations save time and resources while improving accuracy and efficiency in their accounts payable operations.
What is AstuteAP?
AstuteAP is an AP Invoice Automation tool that leverages Artificial Intelligence (AI) to streamline the process of handling supplier invoices, thereby reducing manual intervention, minimizing errors, and providing valuable insights for optimizing financial operations.
Features
AstuteAP Key Features
01
Automatic invoice retrieval from source
02
AI-enabled Invoice Capture
03
Key value pair extraction, confidence score
04
Invoice Validation and Pre-Processing
05
Error Detection and Correction
06
Intelligent Invoice Processing in target ERP, pre-built integration to PeopleSoft, EBusiness Suite, JD Edwards, Ellucian Banner
07
Document store for invoice lookup, archive
Accounts Payable Automation Workflow
How is AP Invoice Automation better?
- Touchless and Faster Invoice Processing
- Capture Invoice Header with higher accuracy
- Invoice Data Validation and Verification
- Fraud Monitoring and Alert
- Error Handling
- Dashboard Reporting
Benefits
Benefits of AstuteAP Invoice Automation
Business
- Reduction in Invoice Processing costs
- Faster Invoice processing
- Lower exception rates
- Digital Transformation
- Reduction in Invoice processing errors
- Fraud Monitoring and Alerts
Technology
- Oracle Native - upgraded behind the scenes on the cloud
- Using the learned scanning of millions of previous invoices that is part of the Artificial Intelligence to decrease the manual handling of invoices - with higher accuracy
- Efficiency: AP automation speeds up document processing, reducing manual effort and time required.
- Accuracy: Minimizes errors associated with manual data entry, leading to more reliable data extraction.
- Scalability: Handle large volumes of documents with AP automation, allowing for scalable document processing.
- Cost savings: Reduces labor costs associated with manual document handling and processing.
- Improved decision-making: AP automation provides quick access to extracted insights, enabling faster and more informed decision-making.
- Compliance: Ensures regulatory compliance by maintaining accurate and auditable document records.
- Enhanced productivity: Frees up human resources for more value-added tasks by automating routine document processing activities.
- Integration: AP automation seamlessly integrates with existing systems and workflows, enhancing overall organizational efficiency.
FAQ
AstuteAP FAQ
How does AI Invoice Processing Automation ensure accuracy in data extraction?
AI Invoice Processing Automation employs advanced algorithms and machine learning techniques to extract relevant data from invoices accurately. It can recognize key fields such as invoice numbers, dates, amounts, and vendor details with high precision, minimizing manual errors and ensuring data accuracy.
Can AI Invoice Processing Automation integrate with existing accounting systems?
Yes, AI Invoice Processing Automation solutions are designed to seamlessly integrate with various accounting systems, including popular platforms like QuickBooks, SAP, and Xero. Integration allows for smooth data transfer between the automation tool and your accounting software, streamlining the invoicing process and ensuring compatibility with your current workflows.
How does AI Invoice Processing Automation handle invoices in different languages and formats?
AI Invoice Processing Automation is capable of processing invoices in multiple languages and formats, including scanned images, PDFs, and digital documents. Through natural language processing (NLP) and optical character recognition (OCR) technologies, the system can interpret and extract information accurately, regardless of the language or layout of the invoice.
What security measures are in place to protect sensitive financial data during the automation process?
AI Invoice Processing Automation solutions prioritize data security and employ robust measures to safeguard sensitive financial information. These measures may include encryption protocols, access controls, secure cloud storage, and compliance with industry standards such as GDPR and SOC 2. Additionally, user authentication and audit trails help monitor and track data access, ensuring confidentiality and integrity throughout the invoicing process.
Relevant Blogs
Why CFOs Should Prioritize AP Invoice Automation
Chief Financial Officers (CFOs) increasingly leverage technology to streamline operations and enhance financial health. Among the myriad technological advancements, Accounts Payable (AP) Invoice Automation stands out as a critical tool for modern finance leaders. Here’s why CFOs should consider AP Invoice Automation as their top priority.
Optimizing AP: AI for Cost Efficiency and Streamlined Operations
In the quest for financial excellence, finance departments face the challenge of processing Accounts Payable (AP) invoices efficiently while controlling costs, managing staff levels, and ensuring timely payments according to contract terms.
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Testimonial
What Our Customers Are Saying
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Gain Peace of the Mind with OCI
“We found Astute as one of the strongest companies that not only deals with one of the projects but the somebody who works alongside us during the journey to overcome the hurdles of the project, as well as gives us the technical advice, educates us in the process, and the one whom we can rely on in this process. We have implemented the PeopleSoft Application to the Cloud solution and Astute’s Managed Services. And we continue to modernize our application with Oracle Cloud services.”
Mamuka Khantadze
- Senior Director of Technical Operations, CARE
Seamless Migration to Oracle with No Impact on End Users
“One of the biggest challenges that we were facing was the end of life on a number of servers in our Data Center, and we no longer have to provide hardware solutions as we are a leading provider of Pawn services. Transitioning into Oracle in this critical situation helped us resolve this challenge, especially our PeopleSoft applications into the Cloud, which was a great win as it was a seamless migration with no impact on end users."
Darren McDaniel
- Senior Director, Application Development, EZCORP
Utilizing Cloud Infrastructure for Right-Sizing
“In less time, we moved our finance systems from Oracle EBS to Oracle Cloud, student information to Education Cloud Infrastructure, building and maintenance services, and Amazon Web Services. Now, we are moving our PeopleSoft systems into Oracle Cloud Infrastructure. One of the reasons for Cloud Migration is that updates happen over time and gradually. Meanwhile, patches had become easy to implement and adapt.”
Rob Dickson
- Chief Information Officer, Information Services & Technology, Wichita Public Officer
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