Celaton’s Commercial Director, Gina Gray discussed the challenges faced by organisations in reducing the manual effort involved in accounts payable processes. For many organisations it can take up to 10.6 days to fully process an invoice, with manual tasks including validating the invoice, checking data against POs, confirming supplier terms and ensuring compliance with both business and financial rules and regulations. The time spent completing these manually repetitive tasks can lead to not only missed early payment discounts, but are also error-prone and can have a negative impact on staff morale.
Celaton’s Intelligent Document Processing (IDP) platform inSTREAM™, offers organisations a more efficient way to fully process invoices through the application of Intelligent Process Automation (IPA) technologies.
inSTREAM comprises multiple technologies including Artificial Intelligence (AI), Machine Learning (ML), Robotic Process Automation (RPA), Optical Character Recognition (OCR) / Intelligent Character Recognition (ICR), Natural Language Processing (NLP) and cognitive computing to streamline the tasks within an end-to-end-process. IDP enables organisations to reduce the manual tasks involved in invoice processing; improving processing times, minimising errors, but most importantly freeing up staff to complete more rewvalue based tasks such as conflict resolution and relationship building, significantly improving job satisfaction, supplier relationships and productivity as a result.
During the webinar Celaton’s CTO Richard Hill also provided an exclusive demonstration of the inSTREAM platform and its applications for invoice and sales order document processing.
If you weren’t able to attend or would like to view the webinar recording you can do so by following below. In addition, you can also view the Kuoni invoice processing case study featured in the webinar by following this link.