The cost to process a single invoice can easily surpass $12. Worse, the time to process that same invoice can take nearly 11 days. You need an invoice processing automation solution that blends artificial intelligence, machine learning, and natural language processing so that you can cut costs, speed up process time, and gain usable workflow insights.
The performance gap between enterprises that automate invoice processing and those that don’t is big. Paper invoices, manual data entry, and excessive exception handling adds time and cost to process each invoice. Conventional robotic process automation simply connects partial solutions, which often leads to other problems. That means more manual intervention.
A true business process automation program does just that: automates business processes from beginning to end. Your automated invoice processing solution must correctly handle sourcing, indexing, extraction, validation, exceptions, approvals and workflows, integrate with ERP and accounting systems, and pay your suppliers quickly – all with minimal human intervention.
JIFFY.ai HyperApps cloud-native low code/no code approach to invoice processing accelerates your time to value. Automated invoice processing and related workflows reduce operating time by 80%. Our hosted HyperApps as a Service (HAaaS) solution lowers your total cost of ownership because it does not require added costs for installation, configuration or server sizing.
HyperApps combine machine learning, artificial intelligence, and natural language processing into a truly automated end-to-end accounts payable solution. Configurable dashboards enable managers to:
A global manufacturer turned to JIFFY.ai to automate their entire invoice processing function. Over a 12-week period, our invoice processing HyperApp achieved 85% straight-through processing on 150,000 invoices per month from 5,000 suppliers across multiple countries.
READ MOREBy automating your invoice processing and related workflows, JIFFY.ai helps reduce the cost of invoicing by 70%, reduces invoice processing errors by 98%, and improves straight-through processing by 100%.
Equipped with a built-in analytics engine, our Invoice Processing HyperApp provides end‑to‑end visibility of the entire invoice process and provides comprehensive insights into your financial data.
Tamra Butler, RPA Manager
Southwest Airlines
Mah Johnson
International Organisation (Public Health), Malaysia
RPA Manager
Leading US Airline
Managing Director, Business Transformation
Leading US Airline
A typical manufacturing company deals with a large, distributed supplier landscape. In a single month, a manufacturing unit would have to process 1000+ invoices originating from different locations, each with its own payment parameters and discount timelines. Scaling manufacturing operations entails adding new vendors and suppliers, making AP processes more complex. Our Invoice Processing HyperApp can enable complete, end-to-end automation with support for exceptional scenarios through AI. Equipped with a GUI interface, plant operators and business users can set their own workflows with minimal IT intervention. The HyperApp integrates with ERP, manufacturing execution systems (MES), and other components of the existing technology stack to fetch data for invoice validation and process reconciliation.
The Invoice Processing HyperApp is field-tested for manufacturing use. It helped one of the world’s largest automobile manufacturers to achieve 85% straight-through processing for a volume of 15,000 invoices per month across 5000+ suppliers.
The aviation industry and flight experiences are undergoing a dramatic change in the digital era. Passengers now expect seamless service and greater convenience when interacting with airline providers, and the COVID-19 pandemic added more complexities. Automation can be instrumental in delivering service excellence in a low-touch manner, addressing immediate challenges in the wake of the pandemic, and unlocking lasting efficiencies. Automation can simplify AP processes for carriers and airports working with thousands of vendors. It makes consumer transactions faster, more accurate, and scalable. Adopting intelligent automation is essential for airlines if they are to grow and innovate.
JIFFY.ai helped a leading American airline cope with an overwhelming volume of requests for flight cancellation, rescheduling, and refunds during COVID-19 with limited personnel. By monitoring and automating the downstream processing of these requests, the company saved 2000+ person-hours of work and processed nearly 100,000 transactions in 6 weeks.