Home Appliance Manufacturing
$10 – $50 Billion
As part of the reconciliation process, the finance department had to manually process thousands of transaction-based invoices every month. For the remittance entry of invoices, they reconciled every invoice with the respective sale and payment made by dealers.
The client wanted to streamline their global invoicing process and was looking for a partner who could build an optimal automation solution for their invoice reconciliation process involving multiple enterprise systems.
Emtec Digital’s Intelligent Automation team recommended a cutting-edge, custom developed solution utilizing the latest Robotic Process Automation (RPA) and Machine Learning (ML) tools. The client’s entire invoice processing flow and potential scenarios were analyzed to ensure an efficient and user-friendly solution with improved cycle time and accuracy.
The product and payment details are extracted from the invoice document and matched against the purchase order in the ERP system. The invoice is then marked as fully /partially paid / advance payment under the account. The solution is designed with the following capabilities:
The automated invoice reconciliation solution utilizing custom developed RPA workflows operates 24×7 enabling higher productivity, better process control, rapid invoice processing and improved turnaround time. The client’s manual end-to-end invoice processing has now been transformed into a well-defined, automated and rule-based process for error-free invoice reconciliation. This RPA solution has also helped the client free up critical finance resources for more strategic tasks directly related to revenue recognition and business forecasting.
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