AI-Based Invoice Automation Solution
Finance
đź“Ť Location: Mumbai, India
The client is a well-established Chartered Financial Analyst (CFA) firm with a nationwide presence. Renowned for their expertise in financial analysis and investment strategies, they’ve built a reputation for delivering excellence and upholding high standards of integrity in the financial sector.
*For confidentiality reasons, the client’s name is withheld.
Overview
The client faced persistent challenges in handling last-minute invoices submitted in inconsistent and unstructured formats. Manual processing led to inefficiencies, errors, and delayed payments.
Jina Code Systems introduced SyncMaster, an AI-driven automation solution, to revolutionize their invoice processing operations and streamline their Accounts Payable (AP) workflow.
Advanced Data Extraction for Unstructured Formats
SyncMaster was configured to leverage OCR (Optical Character Recognition) and NLP (Natural Language Processing) to extract data from various file types, including scanned images, handwritten notes, and screenshots. The extracted data was then converted into structured formats for seamless processing.
Automated Cross-Platform Integrations
The solution parsed invoice data into structured Excel formats for tracking and analysis. It also synchronized data with Tally in real time, eliminating manual updates and ensuring data consistency across platforms.
AI-Powered Validation & Error Detection
SyncMaster was customized to cross-check invoice data with Tally records, flagging discrepancies instantly. This reduced manual verification needs and ensured accurate, timely payments.
Vendor Communication Automation
SyncMaster’s AI capabilities were used to draft personalized emails for vendors, providing real-time updates on payment statuses and resolving issues promptly. This improved vendor satisfaction and minimized communication delays.
Real-Time Insights with Financial Dashboards
A custom-built dashboard allowed AP leaders to monitor performance metrics, such as cost savings, invoice processing time, and early payment discounts. This enabled data-driven decision-making and greater financial oversight.
Automated, timely communication helped the client secure 30% more early payment discounts while reducing penalties.
Real-time dashboards offered instant visibility into AP operations, allowing leaders to track savings and productivity in real time.
We Dont Store Your Data