ACCOUNTS PAYABLE INVOICE AUTOMATION
Simplify Invoicing with Precision and Speed
Pay vendors on time with fewer errors and lower invoice processing costs. Vroozi APIA captures invoice data; automatically validates, matches, and codes invoices; and expedites exception handling with custom workflows.
Transform Accounts Payable into an intelligently orchestrated and automated flow.
End-to-End AP Automation
Vroozi automates every step of the invoice lifecycle, from receipt to payment. Intelligent data capture reads words on a page in multiple languages to digitize invoices in non-digital formats – no training required. Smart coding accurately codes invoice lines with accounting based on history and confidence scores, and automated two- and three-way matching ensures you only pay for what you ordered and received.
With custom workflows tailored to your organizational needs, your team will route approvals and resolve exceptions faster. Additionally, digital invoices that match orders and have followed all company processes and approvals can be configured to process straight through to increase touchless invoice processing.
Cognitive Scan and Capture
Eliminate manual data entry from paper and PDF invoices
- Digitize content from electronic and scanned PDFs and images – no invoice template training required
- Retrieve invoice numbers, dates, due dates, totals, taxes, and more
- Match invoices to orders even with missing or incomplete information from the supplier
- Delivers all invoice lines from non-PO invoices so you can track all your spend
- Greater than 95% data extraction accuracy
- An intuitive interface and confidence scores for verifying captured data
- Machine learning that gets better at capturing and coding each time
Invoice
Streamline invoice handling and processing
- Receive invoices via email, API, cXML, EDI, Vroozi Supplier Portal
- Granular invoice user roles, including AP processors, managers, approvers, coders, and auditors
- Configurable alerts and notifications to preempt or quickly resolve exceptions
- Automatically route exceptions to the right person or group with AI-based resolutions
- Post invoices to ERP and financial systems
- 2- and 3-way matching
- Detailed document and process reporting, including accrual reporting
- Configure straight-through processing
- Supplier self-service for invoice and payment status
Credit and Debit Memos
Issue credit memos against invoices and purchase orders
- Receive credit memos via email, EDI, or cXML
- AI that detects when a document is a memo
- Categorize memos by returned item, rebate, billing error, and more
- Automatically generate memos based on exception resolutions
- Post credit memos to external ERPs
- Track and search credit memos and statuses
- Cognitive OCR that intelligently scans and captures document data
Tax and eInvoicing Compliance
Comply with domestic and international tax and eInvoicing regulations
- Support for a wide range of country-specific eInvoice formats and standards
- In-country invoice and tax compliance in any country
- Integration with tax engines to accurately calculate tax
- Ensure invoice data fields conform to legal requirements
- Raise invoice exceptions based on invoice tax from supplier not matching tax calculation
- Connect with mandatory governmental systems and networks for eInvoicing
- Support digital signatures, storage, and security requirements for country-specific eInvoicing
Invoice Data Capture
Eliminate manual data entry. Digitally capture any invoice in any format with advanced OCR and machine learning.
- Intelligently extract header and line-item data from any invoice document.
- Capture scanned and emailed PDF invoices.
- AI proposes coding and data elements with confidence scores.
- Machine Learning improves data capture and coding in a short time.
N-Way Matching
Increase straight-through processing, eliminate invoice fraud, and reduce invoice exceptions.
- Verify invoice details against the original purchase order for two-way matching.
- Verify against PO and goods/services delivery receipts for three-way matching.
- Supports configurations for fully touchless invoice processing.
Custom Invoice Approval and Exception Workflows
Reduce payment delays by intelligently routing invoice approvals and exceptions.
- Create custom rules to route invoice documents to approvers and approver groups.
- Quickly resolve invoice exceptions with the right person or group digitally connected and AI-based resolutions.
- Exception queue for disputed invoices or invoice match failures.
Smart Invoice Coding
Eliminate manual invoice coding with AI-powered smart coding.
- Leverage the Vroozi AI and ML engine to intelligently propose accounting strings.
- Automate invoice coding and verification for PO and non-PO invoices.
- Improve spend data quality and consistency.
eInvoicing
Receive and process electronic invoices from digitally-enabled vendors.
- Process electronic invoices delivered in cXML, EDI, and other electronic data formats.
- Accelerate payment cycles with end-to-end digital invoice processing.
- Reduce invoice touch points for more straight-through processing.
Invoice and Tax Compliance
Streamline regulatory compliance for country eInvoicing and tax.
- Support post audit and clearance countries.
- Integrate with governmental tax agencies for invoice clearance.
- Comply with tax and invoice retention regulations through eArchiving integration and digital signature.
- Reduce the risk of penalties with real-time updates on changing tax laws and regulations.
Fraud Detection and Duplicate Checks
Secure AP operations and prevent costly errors with advanced fraud and duplicate detection.
- Identify, flag, and resolve potentially fraudulent transactions.
- Leverage real-time duplicate invoice detection to eliminate overpayments and financial discrepancies.
- Receive instant alerts for suspicious activities, enabling prompt investigation and resolution.
Receipt-to-Payment AP Automation
Check out our latest insights, tips, tools and more to guide your accounts payable transformation
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