Accounts payable automation
ABBYY intelligent document processing (IDP) delivers accurate, efficient invoice automation, no complex coding required.
From day one, your accounts payable team will be equipped to process even the most challenging, unstructured invoices—in any language—straight-through, error-free, and in record time.
Do more with less. ABBYY’s solutions have delivered up to a 4x increase in productivity, with full ROI in under a year. There’s a reason we’ve been recognized as an IDP market leader for the last six years.
Invoices are vital documents detailing the cost of goods or services provided by a seller to a buyer, specifying payment terms and amounts owed.
The Vantage Purchase Order Processing Skill is a production-ready process skill, comprising of document classification and pre-trained AI extraction models for processing purchase orders from USA, Germany, France and Spain.
The Invoice Document Splitter skill is designed to split files with multiple invoices into separate invoices for further processing.
The Invoice CN document skill is a production-ready AI extraction model designed to accurately and efficiently capture key data points from Chinese invoices (English and Chinese) of a certain type and structure.
METRO AG
CLAY LACY
RENAULT
time savings in the invoice processing cycle
countries served
content accuracy
increased efficiency
paperless operations
digital transformation achieved
to process an invoice
capture and recognition accuracy
Accounts payable (AP) automation uses technology to streamline the entire process of handling invoices. Instead of manually entering data, chasing approvals, and matching information with POs—processes that are prone to errors and delays—AP automation uses software to do all this work automatically with minimal human intervention. No matter the source, format, or language, invoices are processed faster, with fewer errors, and at a lower cost.
With AP automation, you also get immediate control over and insights into your cash flow, ensuring that you stay compliant and avoid losses. It easily adapts to changes in your supply chain, quickly learning about new vendors and invoice formats as they emerge.
AP automation uses smart software to handle common AP tasks like data entry and validation. Using the latest optical character recognition (OCR) technology, AP automation solutions accurately read and capture invoice details. Most invoices are processed without human intervention, seamlessly integrating with your existing AP, robotic process automation (RPA), enterprise resource planning (ERP), and enterprise content management (ECM) systems for a smooth, end-to-end workflow.
AP automation makes it easier for employees to submit expenses by allowing them to do it digitally. The system automatically reads receipts using optical character recognition (OCR), checks for compliance with company policies, and gets them approved electronically. Reimbursements, too, are processed quickly, based on the employee’s payment instructions. AP automation platforms also work seamlessly with your accounting software and provide valuable insights into your organization’s spending patterns.
Slow or error-prone AP processes can cause a ripple effect of problems for your accounting and finance teams. Delays, mistakes, lack of transparency, regulatory risks, and even liabilities issues can arise.
Intelligent AP automation can address these challenges by processing invoices significantly faster and more accurately than is possible manually. With the ability to work around the clock and handle invoices in many formats and languages—all while adhering to country-specific tax and compliance rules—today’s AP automation platforms offer a comprehensive solution for streamlining your financial operations.
AP automation connects with ERP platforms using secure digital bridges called application programming interfaces (APIs). This allows information to flow seamlessly between the two systems, streamlining your financial processes.
Your data updates automatically in real time, reducing manual errors and saving time. Plus, you get a single source of truth for vendor information, making it easier to match and reconcile invoices. The integration also enhances reporting and analytics and maintains accurate records for audits and compliance with regulations.
Schedule a demo and see how ABBYY intelligent automation can transform the way you work—forever.
