Invoicing Process Automation of Client’s Accounts Payable Operations
The client is one of the world’s largest online social media companies, with global operations and revenues crossing $3.5 Billion.
The client’s Accounts Payable teams were facing a high volume of invoices, which were being processed manually. High processing times and complexity resulted in a lot of delays.
Xoriant Solution | Key Contributions
After evaluating and testing 5 other solutions with their real data, they chose X·CELERATE Invoice (powered by Amazon Textract and CloudIO low-code platform) for its speed, accuracy, and simplicity.
The solution integrated with the customer’s existing workflows, procurement, ERP, and finance software with a straightforward workflow.
The client was able to simplify invoice processing and reconciliation with high accuracy. Powered by Adaptive Deep Learning models, which improve processing accuracy over time, the solution seamlessly integrated with workflows and systems across Finance, ERP, and Procurement.
The Accounts Payable teams were able to automate the capture of invoices and free-form expense reports and ensure payables were paid faster, with fewer exceptions and lower costs.