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. JIFFY.ai has the invoice processing solution you need to save significant time and money. Take charge of surging costs of invoice processing with AP invoice automation.
The performance gap between enterprises with automated invoice processing and those without it is huge. 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. You need a complete invoice automation solution that easily handles your accounts payable invoice processing from start to finish.
A true business process automation program does just that: automates business processes from beginning to end. Your automated invoice processing system must correctly handle sourcing, indexing, extraction, validation, exceptions, approvals, and workflows; plus, it needs to integrate with ERP and accounting systems and be able to pay your suppliers quickly – all with minimal human intervention. AP invoice automation can eliminate the most common human errors that occur.
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) invoice automation solution lowers your total cost of ownership because it does not require added costs for installation, configuration, or server sizing. This adds up to significant savings, right from the start.
JIFFY.ai can quickly connect your enterprise with various e-Invoicing networks across the globe (Peppol*, Mercurius, Chorus Pro, and many more) and allow you to receive all invoice types globally. By enabling you to engage with suppliers across geographies on a single platform, we bring you 360-degree spend visibility and higher efficiency in AP operations. Your suppliers can send invoices in their preferred format (Peppol BIS, ZUGfERD, Svefakutra, EDI, XML, paper, PDF, etc.) and our Invoice Processing HyperApp automatically converts, processes and delivers those invoices electronically to your downstream applications such as ERP.
By combining the powers of machine learning, artificial intelligence, and natural language processing the HyperApp brings you a truly automated end-to-end e-Invoice processing solution*. Its highly configurable dashboards enable AP managers to:
e-Invoicing, or electronic invoicing, streamlines invoice management and simplifies how invoice and compliance documents work together. This helps companies to move away from the traditional use of paper invoices to a digital format, and enables them to stay on top of their cash flow and collaborate with their buyers from any location.
By digitizing invoice data and matching it against contracts, purchase orders, and goods receipts, e-Invoicing reduces the risk of errors and exceptions. When e-Invoices are transmitted over a digital business network and programmed with related document data and business rules, they can be validated automatically before posting for payment.
Peppol is a set of artifacts and specifications enabling cross-border e-Procurement. The use of Peppol is governed by a multi-lateral agreement structure which is owned and maintained by OpenPeppol.
Peppol’s technical specifications can be implemented in existing e-Procurement solutions and e-Business exchange services to make them interoperable between disparate systems across Europe.
It enables trading partners to exchange standards-based electronic documents including e-Orders, e-Advance Shipping Notes, e-Invoices, e-Catalogues, and Message Level Responses over the Peppol network.
Peppol Access Points connect users to the Peppol network and exchange electronic documents based on the Peppol specifications. Buyers and suppliers are free to choose their preferred single Access Point provider to connect to all Peppol participants on the network.
JIFFY.ai enables suppliers and buyers across the globe to connect more efficiently and process payments faster. We can be your single point of reference and analysis for all invoice data globally, help you streamline your Accounts Payable operations across geographies, and achieve comprehensive payments visibility. As various countries are building their own e-Invoicing networks, we are continuously enhancing our product to work seamlessly with all new invoice formats.
D-I-Y Supplier Portal: Our solution includes a fully customizable supplier portal that brings all users on a single platform, enables validation at source, and ensures significant reduction in time and expense for enterprises and vendors. Suppliers can upload invoice information using templates, key in one-off invoices, and get real-time visibility into invoice and payment statuses without having to contact your Accounts Payable team.
Direct B2B/EDI connections: Your high-volume suppliers can have a direct, B2B integration via EDI or XML, so they can send invoices directly from their ERP systems without any manual effort.
Better adoption through interoperability: Even if your suppliers use other business networks to transmit financial data, they need not switch over. The interoperability feature can help you connect with them seamlessly, which means higher supplier adoption for you.
PDF/Paper invoices: The end-to-end intelligent automation features of our Invoice Processing HyperApp enable your AP team to handle invoices in any formats – PDFs or paper or electronic – without any manual effort. It extracts invoice data from multiple sources, classifies, learns, validates, seeks approvals and posts to downstream applications, thus saving 60-70% of your AP cost.
Got more questions on e-Invoicing? We're happy to share our experiences.
A global manufacturer turned to JIFFY.ai to automate its 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 invoice processing and related workflows, JIFFY.ai helps you reduce the cost of invoicing by 70%, reduce invoice processing errors by 98%, and improve 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. We can also show you how to re-charge your invoicing pricing strategy.
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. A manufacturing unit would have to process 1,000+ invoices originating from different locations in a single month, 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 accounts payable invoice 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. Invoice processing 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.
Whatever industry you may be a part of, we have an invoice processing automation solution to enhance efficiency and reduce costs. Contact us today to discover how we can boost your business process automation with the help of our HyperApps.
