The starting point for our proprietary low-code/no-code Accounting Robot is any digitized invoice. Such as: EDI, XML, UBL, TIFF and PDF or the output from our multi-OCR (Optical Character Recognition) robot. Now the real work can start!
Knowledge “Shared = Knowledge²”. You can easily share this feature with your team
Our low-code/no-code Accounting Robot is a rule-based engine that creates rules for itself, by itself
These rules serve to perform the following activities:
PO line and GRN line matching
Non-PO invoice line coding
Fraud protection and duplicate checks
The robot is set up as a multi-dimensional accounting-and compliance framework (see below), where groups of rules are assigned to (groups of) company codes. Based on our technology, the same rule will never have to be generated twice; the same rulesets can be assigned to different legal entities.
PO line and GRN line matching
The basis of the rules on how to code a PO-invoice come from the PO: the robot generates the required rules automatically and can perform line-level matching of the Invoice + Purchase Order + Goods Received Note. This is a fully automated process; the rules are updated once changes from the ERP have been received.
Non-PO invoice line Coding
For the set-up of non-PO invoices we follow a 3-step approach:
STEP 1 (initial set-up): We feed the Robot with 1 to 3 years of historical data, so it can find patterns on how your accounting dimensions are used, such as GL, cost center, project codes, etc. Furthermore, in this step, we consider the “cheat sheets” (or work instructions) with specific rules in specific cases; the same ones the AP agents are using currently. Based on this history, the robot is able to create rules that predict the coding of the invoice. BUT this is only HISTORY of course.
STEP 2 (initial set-up): We also feed the robot with your current GL’s, cost centers and other accounting dimensions. Then the robot starts to READ the INVOICE as a human, to find better accounting information on the invoice, and OVERWRITE it’s opinion based on history.
STEP 3 (Operation): is “LOVE AND CARE” that your ROBOT OPTIMIZATION TEAM gives to the robot. The tweaking and tuning. This can be done by your team or by our partner. No technical knowledge is required to perform this task: basic financial and Excel skills will do! This is done in addition to the self-learning capabilities of the robot once they have been activated.
As a result
The Cevinio low-code/no-code Accounting Robot performs the activities that people normally do, in a controlled way, delivering an audit trail of every posting. This leads to an increase of higher levels of automation of the coding process, and results in higher productivity of the accounts payable team.
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Cevinio offers super smart Invoice-to-Pay solutions than ensure accuracy, productivity and on time payments