Invoice automation software, the next generation of vendor invoice management
What is invoice automation software?
Invoice Automation software is one of the key areas when considering an accounts payable automation or AP automation technology. The end goal is to be able to digitize and reduce the number of “touches” required to process a vendor invoice. By implementing a smart Invoice-to-Pay software into your AP system, you will be able to automate and streamline repetitive tasks such as: invoice receiving, manual data entering, page splitting, coding and line-matching, approval processing, and ERP system posting. All of these “touches” (and others) will be performed and completed in a more expedient and efficient manner when using our invoice automation solution. At Cevinio we embrace human-machine collaboration as the workforce of today, as well as tomorrow.
Smart invoice automation with Cevinio
Discover our low-code/no-code (technology and industry agnostic) accounting robot, which is used to achieve high levels of invoice automation. Our state-of-the-art robot is seamlessly integrated into your existing technological landscape, to resolve challenges using your current invoice approval workflow tool. This will speed up the process, and effectively lower the cost. When achieving a lower expense per invoice (increased compliance and decreased throughput times) the results will create a high-productive and high-value accounts payable team; improve supplier relationship management; and foster a higher impact in the business bottom line and growth.
What will Cevinio Invoice-to-Pay bring to your element?
If you are searching the market for an invoice automation solution, you may have read about the basic features and technologies available. At Cevinio we make this process easier for you by bringing clarity on what we can do for your accounts payable processes, and by highlighting the must-haves that will benefit your individual needs.
We are committed to continuously improve our invoice-to-pay software, understand reasons why a particular set of features might change in the future, and add new functionalities and technologies; all targeted to satisfy your needs and business goals over time.
Multi-OCR (Optical Character Recognition) solution that reads like a human.
No templating: we have developed an algorithm that matches the OCR (data on the invoice) with the information found in the Master Data
Sorting and splitting of scanned invoices without barcodes or separating pages
Compares unstructured data on the invoice (no templating required) and the structured data from your VMD (Vendor Master Data) to identify the vendor.
Using machine learning to recognize data fields like invoice number and invoice date
Auto-correct for errors of scanners (0 vs O, 1 vs I, B vs 8, etc)
Line-level matching between invoice, Purchase Order and Goods Received Note
Automated non-PO invoice coding on header level
AI (Artificial Intelligence) and ML (Machine Learning) based
Audit trail of posted invoices
Compliance toolbox for tax, legal and corporate compliance. (Find out more about the compliance toolbox)
Algorithms take-over current compliance checks
Easy detection of discrepancies and exceptions on invoices: they will be queued automatically to a specialist
Toolbox that can anticipate future changes
Invoice approval workflow tool that is rapidly scalable. (Find out more about our approval workflow module)
Easy to maintain without IT involvement
Features like delegation, ask for advice and escalation
Operational with any type of mobile device
Vendor invoice portal
Onboarding of your suppliers free of cost
Your suppliers can use the portal for free
Easy maintenance of VMD (Vendor Master Data)
Reporting, Cevinio offers the following standard PowerBI reports
Accuracy
Duration
Productivity
Workflow report
Splitting and Sorting analysis
User friendly user interface
Easy to learn
Responsive design
Is Cevinio invoice automation the right solution to achieve your business goals?
At Cevinio we have a qualified and passionate team with more than 15 years of experience, developing algorithms and assisting large companies on their digital transformation journey (with a strong focus) on the Invoice-to-Pay market.
We can give you more clarity concerning the markets, explain the solutions available and describe how we can help your accounts payable system. Schedule a call with our team. Avoid a long search and save time by getting actionable information from Cevinio’s experts in the field. Contact us
Why we win | Adding value to your vendor invoice management process.
We provide the features you need to reach your goals by improving speeds of productivity, processing, and compliance. Not to forget: our solution offers the accounts payable team more less-repetitive tasks, and also a focus on more value-added activities (such as vendor engagement).
We cover the full spectrum of the Invoice-to-Pay process through a developed and agile environment that easily integrates with your existing technological landscape.
Our latest posts and news
Post
5 accounts payable KPIs outstanding finance leaders are tracking
To help finance leaders stay in control and lead high-performance accounts payable teams, we have created a shortlist of 5 accounts payable KPIs for modern AP (Accounts Payable) teams. Read more..
Whitepaper
How artificial intelligence can boost your accounts payable process
In this whitepaper we show trends in Artificial Intelligence and how Cevinio makes use of it for our Humanized Intelligent OCR and other elements to move towards the promise of tomorrow: e-invoicing. Read more..
News
Cevinio listed as a representative vendor in 2021 Gartner® …
Cevinio was recognized as a Representative Vendor in this 2021 report, as a leading provider of Accounts Payable Invoice Automation solutions. Read more..
New whitepaper alert!
Navigating the evolving Accounts Payable landscape: A guide to 6 key trends
Looking to stay ahead of the curve in the ever-evolving accounts payable landscape? Download the white paper and get all the details.
