A leading U.S based corporation struggled to deal with tall volumes of invoices due to outdated and manually intervened invoicing processes. Errors were found at a regular interval in customer invoicing. The company’s staff spent a large portion of their time and effort in managing these slothful accounts payable (AP) processes. This led to delays in customer payments and poor remarks on customer service. The client needed a quick solution that could streamline and optimize the entire accounts payable (AP) process, reduce payment delays, and exceed customer experience.
MSRcosmos identified three use-cases in the AP process that could be automated using robotic process automation (RPA). These included
Blue Prism was selected as the RPA platform for AP process automation. Using Machine Learning (ML) and Artificial Intelligence (AI), MSRcosmos developed in-house engines that could identify, and segregate invoices downloaded from vendor websites. Once the invoices were downloaded, the ML algorithm read all the costs and other attributes from invoices and queued them for the Blue Prism tool, which processed the information for the Oracle ERP system.
Accounts payable (AP) process automation allowed the company to issue invoices more quickly, reduce human process errors, and lower costs.