Supplier Invoice Management

Automatically extract invoice data and prepare payments and accounting informations

Nobody likes invoice lists

Except your accounting department, they want all invoices categorized, connected to the correct supplier, with payment details, due dates and amounts extracted. Who likes to manually get all the data from invoices and put them on a list? How likely is it that errors will be added to that invoice list?

Extract invoice data

Let AI extract invoice data for you, gather all the required information from the invoices, and prepare the data for your accounting department. By automating the process, you will save time and reduce the risk of data entry errors.

How is the data extracted?

Every invoice is different, by using AI and machine learning, the system will learn to extract the invoice and supplier data from every invoice. All you need to do is forward the invoices to the invoice management system and the system will do the rest. All the extracted Data will be added to the invoice list.

Detect supplier data changes and prevent fraud

When a supplier changes their bank account, address, or contact details, the system will detect the changes and notify you. This way, you can be sure that the payments are going to the right place and additionaly adds an extra layer of security to prevent business email compromise

Generate payments

Generate payment files* for your bank to initiate the correct payments to the suppliers. This again prevents data entry errors since only approved supplier data will be used, ignoring any changes that were not approved from new invoices. Invoices will undergo an approval process and once approved the payment file will be generated.

Just upload the payment file to your bank and you are done.

*currently only CAMT.053 XML files and Revolut API is supported

Get the insight you need

You quickly need the last invoice from a supplier, but the accounting department is not available, the invoice can’t be found in the mailbox where it should be and you are left scrambling to find it.

Having all invoice details in one place gives you the ability to analyze the data, know how much you are spending and when the payments are due, but also to quickly search for invoices or suppliers, giving you the information you need when you need it.

Connect invoices to purchase orders

By connecting the invoice management to the purchase management, invoices beloning to purchase orders will be automatically connected to the correct order. This will allow the detection of any discrepancies between the order and the invoice, notifying you of any issues.

Generate accounting data

Exporting data for your accounting can be configured to the requirements and formats requested by your accounting software or accounting department. They will receive all the data required including the original PDF of the invoices.

Photo by Christa Dodoo on Unsplash

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