Boost Efficiency with Sales Process Automation Tools for Accounting and Tax

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[Music] the accounts payable process is known as a highly manual and labor-intensive task there are many exceptions invoices formats and different sources it is therefore classified as a time-consuming process with unstructured data making Automation in general more complicated the most common AP challenges are reconciling the invoice lines with a purchase order and the goods receipts an unclear and inefficient workflow the allocation and booking of cost invoices and detecting fraudulent or duplicate invoices as a result the booking of an invoice can sometimes take weeks resulting in inefficiency and higher costs per invoice our mission is to help you transform improve and automate the accounts payable process KPMG works with technology partners that focus on optimizing and automating the purchase to pay cycle in our proven project approach we will perform an analysis on the as is and the two big identifying the gaps and possible improvements based on the outcome the preferred solution is selected for implementation and ready for automation but how does it all work the solution is directly integrated with your Erp so all data is at hand to match and book the invoice automatically it contains Ai and machine learning components with these features the invoice verification and matching can be partially or fully automated optical character recognition OCR is used to easily detect and extract information from the invoice on the header and lines regardless of the format or language prices and quantities on the lines are automatically reconciled with the order to detect any discrepancy furthermore it can detect anomalies on the amount duplicates or fraudulent invoices by comparing the received invoice with previous documents dashboards and automated reports give real-time insights and alerts on early payment discounts late payment penalties and help you identify bottlenecks in the approval workflow the based on the sector and organizational requirements we can customize the system so it can deal with any exception automating also the more complex invoices the AP team can now book invoices better faster and cheaper reducing the cost per invoice up to 50 percent as a result work can be allocated to more value-added activities making the work of the AP clock more efficient and fun interested in how we can help your organization transform and automate the accounts payable process please reach out to our digital process Excellence team for more information transform the process deliver value start now