Sometimes it’s easier to understand how robotization can help you with a practical example. That’s why today we’re going to dig into a solution for one of the most challenging problems in any company: invoice automation.
The key to the problem
Invoice automation is born as a solution for one of the most tedious and repetitive tasks that occur in any business. Sorting, organizing and storing invoices for later reference can be a full-time job depending on the size of the company. In smaller businesses, not having a person dedicated exclusively to this task can lead to loss of information, increased errors in classification or problems in subsequent queries.
We are, therefore, faced with a real problem. One that can easily be solved by a solution developed through software robots. Robots that automate the task, allowing workers to free themselves to dedicate their time to activities with greater productive value. But what do robots do?
Invoice automation is an effective solution.
The contributions of software robots
In this blog we have previously discussed how the incorporation of software robots can help improve any company’s workflows.
Software robots are applied in those repetitive tasks, which always work under the same set of criteria or parameters. Also in those that, by their nature, follow a constant flow of steps that are easily replicable. Just as one person can replace another in a task that follows predetermined steps, a software robot can take over a process that is well defined and recurrent.
And invoice automation is one such situation. The steps to follow are the same case after case, which allows you to identify a uniform workflow that the robot can complete.
A process not free of problems
The classification and management of invoices in companies is not exempt from a common problem. The first is the initial classification, which must take into account different parameters. The person in charge of classification must take into account different aspects in invoices of different appearance. Searching and sorting by VAT number, supplier name, address, due date, etc. invariably results in an error rate that grows as the number of invoices increases.
This high number of checks, error corrections, endless classifications, etc., results in an increase in the time spent, which inevitably leads to a significant loss of productivity.
In addition, if at the end of the process we wish to be able to consult the invoices under some type of specific criteria, it will be necessary to implement an archiving and search system. All this results in an inefficient system that consumes excessive resources and has an associated error rate that may not be affordable.
Invoice automation as a solution
Faced with this detected problem, the solution is an invoice automation system that digitizes the process and improves it in tangible ways for the organization.
Technologies such as Abbyy Flexicapture allow you to extract information from invoices for automatic analysis. It is a system that reads the invoice as a person would do and compares each piece of information to contrast it, identify it and act accordingly. In this way, invoice validation is automatic, as it ensures that the data and parameters are correct.
The system is able to match the received data with the stored data, so that the VAT number or tax rates are collected quickly and efficiently. In the event of an incident, the system returns control to the operator for unambiguous management. The different control points throughout the system ensure that everything is always under control. As a result, the error rate tends to decrease to zero.
Last but not least, we have the fact of classifying and archiving invoices. Thanks to the initial recognition system, it is very easy to generate different search fields that allow us to filter all the content according to the requirements of each moment. All this allows for a customized, secure and consistent review and audit.
Solutions for real problems
As we have seen, efficient solutions can be developed for real day-to-day problems in any company. Invoice automation, which Devol offers through its own development, is just one example among many.
Increased efficiency, reduced error rates and freeing up staff time are just some of the most obvious benefits. But there are others that are specific to each business case.
Whatever the problem in tasks that involve recurring processes, software robotics can help offload work and have a direct positive impact on any organization.
