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Multi-line PO matching
Non-PO backed invoices
Case study | Georgetown University
100%Accurate entry and accounting of invoices
< 15minTime to process with NO human validation
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With AppZen, entities, business units, cost centers, account codes, and allocations are all assigned accurately without the need for manual review.
We have a complex chart of accounts. Getting things coded to the right place can be challenging for the accounting team when it comes to reclassification.”
Director, Accounts Payable
Your organization has a distinctive set of business units, chart of accounts, and business practices. Only your accounting team knows, from its years of experience, how to correctly assign GL codes and approvers to your invoices.
Your AP team reads and interprets your invoices to determine accounting codes using several factors:
Ensuring this information is correct during invoice entry is challenging, time-consuming, and error-prone. Companies have tried to address this issue in different ways, such as writing detailed Standard Operating Procedures (SOPs) and rules for AP staff. Invoice approvers from business teams are often asked to fill in this information, which they are poorly equipped to do – a poor use of their time.
— DIRECTOR OF FINANCE,
LEADING EMERGENCY COMMUNICATIONS SOLUTIONS PROVIDER
Artificial intelligence that can process an invoice autonomously must be able to read an invoice in PDF documents and enter the information on it correctly. It must also ensure that its predictions of the assignment of entities, business units, cost centers, account codes, and allocations are accurate and do not require any human review.
AppZen’s AI is purpose-built to understand invoice documents, spend taxonomies, vendor information, and accounting patterns. It's specifically trained to understand your company's business practices and chart of accounts. It can train itself on the knowledge of your AP staff and business units by analyzing the historical processing of invoice documents and accounting. In just hours, AppZen's AI models can learn from your historical data, to GUARANTEE the assignment of GL codes to your invoices is 100% accurate, without any human review.
Autonomous processing of non-PO invoices means:
GL CODES ASSIGNED
REDUCTION IN FTES
Finance teams are increasingly being asked to do more with less, as staff reductions and a difficult economic outlook become the norm. The must-have for immediate cost-savings and increased efficiency is AppZen’s proven AI solution.
A leading, national lawn care services provider needed 13 FTEs to manually process over 20,000 non-PO-backed invoices each year. With 250 locations, correctly assigning GL codes and appropriate entities for all cost centers proved challenging.
In the first 9 months after AppZen Autonomous AP integrated with their JDE instance, this customer achieved 70% autonomous GL code assignment for their invoices, saving over 1700 hours. Now, only 3 employees are needed, allowing the rest to be assigned to more strategic positions.
See for yourself how Autonomous AP can optimize your invoice processing.Schedule a Demo