Easier with AI: intelligent matching for multi-line POs and complex vendor invoices

100%

Accurate entry and accounting of invoices

< 15min

Time to process with NO human validation
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Autonomous AP
Invoice Capture
Multi-line PO
Non-PO Backed

Matching invoice and PO lines without rules, tables, or a perfect description match, with 100% confidence

Invoices that read differently than purchase orders are impossible for rules-based systems to reconcile. Only AppZen AI reads and understands the content and context of invoices and POs to guarantee 100% accurate matching–even when items and descriptions are different.

Is the complexity of PO matching holding you back?

“quote

With AI doing the work of AP processing, we were able to increase the efficiency of our AP team by 70% and reduce our FTEs.”

Director, Accounts Payable

Complex invoice matching requires a person to read POs and invoices and decide whether line items and descriptions are equivalent. Rules-based solutions can’t handle these situations:

  • Line item descriptions that are a fuzzy match between invoices and POs
  • Invoice lines that need to be combined to correctly match PO lines
  • Invoice line amounts that need to be matched based on department codes on a PO
  • Identifying purchase order lines to match, even when they lacks sufficient funds

Processing PO-backed invoices requires you to check every line item to confirm they follow the purchasing details of the PO. Rules-based systems rely on an exact match or a cross-reference table to translate specific invoice values.

Every time you have to contact the buyer or use your expertise, focus, and time to read and interpret documents, the 3-way match is held up. Hours and even days of your time are lost.

“ We want to leverage the OCR extraction functionality from Oracle, but it doesn’t work 50% of the time."

— DIRECTOR OF FINANCE,

LEADING EMERGENCY COMMUNICATIONS SOLUTIONS PROVIDER

80%

INVOICES
AUTOMATED END-TO-END

Fully-automated identification without rules, tables, or an exact
PO match

AppZen’s Autonomous AP is uniquely capable of intelligently predicting which PO lines should match against which invoice lines, even when they’re out of order, the items and descriptions are different, or they have to be grouped together. Its match is not dependent on rules or cross-reference tables.

Even when the PO is out of funds, Autonomous AP can still confirm matching line items and will automatically flag the appropriate buyer. It then continuously rechecks the system until requirements have been met, then completes the match process without any additional action from you.

AppZen’s AI models have the extensive finance domain expertise of an AP team with years of experience processing your invoices. Using this AI knowledge and historical insight from your invoice documents, purchase orders, chart of accounts, suppliers, and more, it can interpret your spend data with 100% guaranteed accuracy. No human review is required. The AI also continuously learns from user feedback and downstream transaction changes. This allows it to improve its future predictions, increasing the number of invoices that can be fully automated and require zero human touch.

7 days

REMOVED FROM PROCESS

300%

INCREASE IN
DISCOUNT OPPORTUNITIES

77%

REDUCTION IN FTES

Increased efficiency with Autonomous AP

Reduced headcounts are adding pressure to the already heavy workloads of most AP teams. AppZen makes it easy to transition to zero-touch invoice processing with fewer resources.

 

Challenge

A leading provider of industrial technologies and supplies processing 300K invoices annually took 5 business days to move those invoices from their inbox to ready-to-pay. Their current solution only captured invoice header information and was highly error-prone. While 97% of their invoices were PO-based, because of variations between invoices and POs, the majority had to be manually reviewed and matched. They wanted to be able to process each invoice within 1 day. The only way to do that with their current solution would have required them to add additional headcount.

 

Solution

The day they went live, Autonomous AP integrated with their SAP instance and immediately started learning how invoices had been matched, historically. The AI is able to match over 50% of even their complex invoices to POs without manual review or adding any AP processors. BONUS: They’re also benefitting from accurate, automated GL code prediction.

NEXT UP: NON-PO BACKED INVOICES

100% accurate GL code assignments