AI-Enabled Accounts Payable Workflow
From Automated Invoice Data Capture to Payment Approvals
Discover how Aavenir Invoiceflow can help the accounts payable team to process thousands of invoices in minutes and track payments to foster vendor relationships
Manual invoice processing keeps accounting and finance departments beholden to slow, expensive, and error-prone vendor payments. An efficient AP department is essential to manage working capital and vendor relationships for the enterprise. As per research, some measurable operational benefits of AP automation include:
- Accelerates invoice processing time from ~10 days or more to ~5.95 days or less *1 &*2
- Reduces average invoice processing cost from ~$15 per invoice to ~$6.70 to $2.36 per invoice *1
- Improves Invoice Data Accuracy from 89% to 95% *2
The data above directly speak the benefits of AP automation should be undeniable. Want to explore a smarter way to automate invoices data capture and the entire accounts payable process workflow?
Join Russell Seifert, Account Executive and Rohit Pareek, Director of Product Management at Aavenir to learn how Invoiceflow can reduce manual efforts, improves accuracy, track invoice status and manage payments. Built natively on the Now Platform, Invoiceflow minimizes upfront costs and offers faster deployment via the app store for ServiceNow customers.
What will be covered in this webinar?
- The Role of AI in Accounts Payable
- How do zero-touch invoice data extraction work using proprietary AI technology?
- How to set up the accounts payable workflow as per your approval matrix and business validation rules?
- Live demo: Aavenir Invoiceflow on ServiceNow
- Use Case: 2-way/ 3-way matching with Purchase Orders (POs) and Goods Receiving Notes (GRNs)
Can’t make it on that day? Go ahead and register. We’ll send you the slides and a recording after the session is delivered.
*1 – Payables Insight Report by PayStream Advisors
*2- Reap the Benefits of Invoice Excellence with AP Automation by Aberdeen Group
Rohit leads the Product Management group at Aavenir. Rohit has deep expertise in Source-to-Pay domain and implemented multiple projects in Supply Chain domain across multiple industries with total experience of 12 years.