Up to 100% Process Accuracy
Saved Operational Cost Annually
90% improvement in Compliance
99% improved Process Speed
Revolutionize your Accounts Payable processes with Robotic Process Automation (RPA). Experience unparalleled efficiency as RPA accelerates invoice processing, ensures accuracy, and reduces operational costs. AP automation caters to greater effectiveness and productivity through the:
Accelerate turnaround times with minimal manual invoice processing help you leverage benefits like early payment discounts, reduce DSO/DPO, and optimize business processes.
Automated invoice extraction reduces the data entry errors leading to late payment charges and penalties. Also, it ensures a strong vendor relationship that drives revenue.
RPA in accounts payable can quickly complete the tasks of manually repeating the data from an invoice, matching that information with other data sets stored in the database, and producing reports and notifications.
Automating the AP approval/invoicing process reduces human intervention, routing invoices to the correct approver, and automated follow-ups can be triggered for upcoming deadlines.
Robotic Process Automation quickly addresses fluctuations in workload and are easy to implement across different verticals and domains.
Integrating RPA in accounts payable helps implement long and unmanageable processes including numerous worker’s inputs seamlessly.
Establishing an RPA solution manages multiple invoice data entries, leading organizations to realize significant savings by accelerating the invoice lifecycle.
RPA implementation in the account payable process ensures the 24*7 availability of accounting services, allowing businesses to enhance customer service and curate their nook in the hierarchy.
RPA solutions in account payable systems enforce approval hierarchies, establish segregation of duties, and manage an audit trail of activities effortlessly.
If you are also planning to integrate RPA solutions into your finance and accounting operations,
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Bring about new level of invoice processing performance
While implementing AP automation, choose between UI Path, a commercial RPA platform, or an open-source platform powered by a machine learning model.
An unassisted RPA bot will be developed and deployed on hosting servers. This bot will operate without any human intervention throughout the business process.
The bot will be initiated daily at a fixed time, ensuring regular and automated invoice processing.
Once started, the bot will access the source, identifying where the invoices must be processed. It’ll use pre-saved credentials or an internal repository.
The RPA bot is trained using a Machine Learning model to intelligently parse invoices, gather relevant information, and understand the content and context.
Once the information is stored, the bot then reads and carries a three-way match. It'll compare specific invoice data with an original purchase order or contract to ensure the invoice's validity for vendors, applicable VAT, invoice cycle, amount, etc.
Besides being a preferred RPA consulting services partner, Signity specializes in designing, developing, and deploying intelligent bots using commercial & open-source tools to empower you in business process automation.
Choosing the right partner is pivotal to achieving seamless and efficient financial processes. Signity boasts a wealth of expertise in the deployment of automation solutions for accounts payable:
Have a question in mind? We are here to answer. If you don’t see your question here, drop us a line at our contact page.
What is RPA, and how does it relate to accounts payable automation?
RPA is a technology that uses software robots (bots) to automate rule-based, repetitive tasks. In accounts payable automation, RPA can be used to streamline processes like invoice processing, data entry, and validation, making the entire accounts payable workflow more efficient and accurate.
What specific tasks in accounts payable can RPA handle?
RPA can handle a wide range of tasks in accounts payable, including data extraction from invoices, validation of invoice data against purchase orders and contracts, routing invoices for approval, and even generating payment instructions.
How does RPA improve the accuracy of accounts payable processes?
Can RPA integrate with our existing accounts payable software or systems?
Is it possible to customize RPA bots to match our specific accounts payable workflows?
What is the cost associated with implementing RPA in accounts payable, and how is it structured?
Can RPA handle unstructured data, such as invoices in different formats or languages?
What security measures are in place to protect our financial data when using RPA?
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