Aavenir Upgrades Invoiceflow’s Vendor Invoice Process Automation for Enhanced Accuracy, Traceability, and User Experience
-Aavenir, a next-generation AI-based Source-to-Pay solutions provider, announced the latest version of Invoiceflow that makes invoice processing more inclusive for a wide range of needs.
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“Invoiceflow integrations provide the single version of truth for project management, finance, and procurement teams across applications”
Invoiceflow offers AI-enabled automated invoice extraction, classification, and digitization of the Accounts Payable process. Invoiceflow’s proprietary machine learning algorithms are trained over time to handle an extensive variety of invoice formats across vendors and buying categories. The solution matches invoices against PO, receipts, contracts, and vendor details before routing them through dynamic approval workflow on ServiceNow’s Now Platform.
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Expanded Invoiceflow AI engine scope to offer industry-leading data extraction accuracy, discounts extraction, multiple invoice capture from a document, and simplified invoice field mapping.
Expanded 2/3-way invoice data matching to detect duplicate or inaccurate invoices, allowing multiple partial invoices matching against PO.
Connected experience using seamless integrations to ServiceNow applications such as vendor management, PPM, ITBM, and systems like SAP, Salesforce.
Improved user experience with multi-language support, bulk call-to-actions, drag-and-drop invoice attachments, customizable list views, etc.
Enhanced flexibility of workflows with dynamic delegation of approval authority to speed up approvals. Approvers can view related PO/vendor details, audit history, duplicate status, and directly approve/reject invoice(s) from invoice list/email.
AP performance monitoring using role-based dashboards to view invoice(s) status, generate metrics reports, and prioritize workload. New usage reports help measure AP staff productivity and identify bottlenecks.
“Aavenir involves customers in its product development, therefore all solutions are designed for customers and by customers. The new version of Invoiceflow processes most invoices without intervention, eliminating 80% to 90% of manual effort and offers up to 99.5% accuracy.” said Jesal Mehta, CEO Aavenir. “Invoiceflow integrations provide the single version of truth for project management, finance, and procurement teams across applications,” he added
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