AI-powered invoice processing system that automatically extracts data, validates information, and tracks payments for a manufacturing company, reducing processing time and improving cash flow management.
A manufacturing company was processing over 500 invoices monthly through manual data entry, leading to errors, delays, and poor cash flow visibility. The accounting team spent 60+ hours weekly on invoice processing alone.
They needed an automated solution to extract invoice data, validate information against purchase orders, and provide real-time payment tracking to improve accuracy and reduce processing time.
Implemented advanced OCR technology to automatically extract invoice data including vendor details, amounts, dates, and line items with 99% accuracy.
Built intelligent validation system that matches invoices against purchase orders and flags discrepancies for manual review.
Created automated approval workflows that route invoices to appropriate managers based on amount thresholds and department codes.
Developed real-time dashboard showing payment status, due dates, and cash flow projections with automated reminder notifications.
Reduced invoice processing time from 2 hours to 15 minutes per invoice, saving 85% of manual processing time.
Achieved 99% data accuracy with automated validation, eliminating costly payment errors and vendor disputes.
Improved cash flow visibility by 40% with real-time payment tracking and automated forecasting capabilities.
Saved $120K annually in labor costs while improving vendor relationships through timely payments and better communication.