Technomancy
Power Platform, Portals , COE & more
Invoice AI automation
Save money and time with AI-powered automated vendor invoice processing
Save costs
Save between $5,000 and $30,000 annually on manual invoice data entry
Free up resources
Let people do more meaningful and satisfying work than keying in invoice data.
Streamline operations
Improve data quality and reduce errors and time wasted on payables errors and follow-ups.
Fit for you?
Are you processing hundreds of invoices from various vendors per month?
Is your finance/account payable team stretched and behind the due dates?
Do you want to scale and save costs at the same time?
The cost of manual invoice processing
If you are a housing provider or a real estate agent, you receive thousands of invoices per year from trade vendors – plumbers, electricians, handymen etc. They all come in all sorts of templates, and it takes ~5 to 10 mins to enter such invoice in accounting software and find the correct purchase order to associate it to. These 5..10 minutes per invoice may costs you $15,000 per year just for data entry job if you process more than 250 invoices per month (see the cost-benefit Excel spreadsheet below).
And this is only in direct cost of the time spent on the data entry. But what about data entered incorrectly and follow ups for incorrect payments? Or missing payments and completely unnecessary back and forth on missed due dates and overdue invoices?
Luckily, modern technology offers very simple yet powerful solution. We offer you an automated invoice processing and AI driven purchase order matching.
As a result, with one off implementation cost, your ROI can be as high as 250% in Year 1 and 6m break even if you process 250+ invoices per month! You will have much more confidence in data being entered correctly and no time wasted on fixing errors, follow ups, delays etc.
Our offering
- Standard package
- Implementation time: 1 week
- One off setup cost: $2,800
- Generic invoice template (no PO matching)
- Specific invoices template training
- At least 20 sample invoices of the same template
- Cost: $200 for initial training per invoice template
- Additional integrations (MYOB, Xero)
- Contact us for a quote
Ongoing costs for Microsoft 365 & Azure are not included. See below the cost-benefit analysis tool.
What's in the solution
The solution we will implement for you:
- Cloud-native – no self-managed infrastructure
- Your organisation isolated – all resources, including AI trained models, are contained within your organisation, with no shared resources to any other organisation.
- Ongoing costs usage-based – you only pay for what you consumed, depending on the volume of the invoices.
- Transparent – you see the status of each invoice processing and if any issues are identified.
Solution components
The solution consists of the following Microsoft 365 (Office) and Microsoft Azure Cloud components:
- Outlook shared Mailbox – set up in your organisation to receive the invoices by email for processing.
- Azure AI Document Intelligence service – the AI service containing a Machine Learning (ML) model trainied to recognise specific invoices and purchase order elements.
- SharePoint – Document Library to store the processing results – extracted information and processing logs.
- Teams – notifications channel for processed invoices and errors.
- Power Automate – the automation engine to integrate the above component from the email arrival to processing completion.
Cost estimates
Receive this Excel spreadsheet in email to estimate the cost-benefit analysis of running the solution.
Page hero image by JerzyGórecki from Pixabay
Get in Touch!
Level 36, Gateway, 1 Macquarie Pl, Sydney NSW 2000
experts@technomancy.com.au