Automate Invoice Consolidation with RPA
Are you spending too much time consolidating invoices?
Any time spent consolidating invoices is probably too much! AI, ML, RPA – these are hot topics in the technology world. Probably not to the extent of robots taking over the world, but how do we leverage them or how should we be leveraging them in order to perhaps automate monotonous tasks and free ourselves up for more value added items?
Let’s break down some of these buzz words that are so prevalent today:
Artificial Intelligence – computer systems performing tasks that normally require human intelligence
Machine Learning – a systems’ ability to automatically learn and improve from experience without being explicitly programmed
Robot Process Automation (RPA) – bots or a software program that operates on the Internet and performs repetitive tasks. This all happens behind the scenes.
There are many benefits to using some of these next-generation technologies, including increased speed and scale, streamlining processes, productivity gains, boosting employee morale, improving customer satisfaction, competitive enablement, reduced risk, increased cost savings, and so much more.
With so many great outcomes within reach, it’s no wonder that all technology providers are asking themselves the same question – how can we leverage these to make our users’ lives easier?
Check out the newest innovation on the SAP RPA store featuring Intelligent Automation for SAP Fieldglass Invoice Consolidation. In the majority of programs, customers use auto-invoicing in which an approved timesheet or deliverable is automatically flipped into an invoice. This provides many benefits, including an automated 3-way match, eliminating the need for reconciliation, eliminating invoice errors, and streamlining the process for the suppliers. It does however, create many invoices, tied one to one with the timesheet. Many organizations like to consolidate these invoices, whether that be by supplier, by company code, by cost center, org unit, or other criteria. While this process is simple, it can be repetitive. The Automated Consolidated Invoice Bot reads a configuration file from Excel and groups those invoices together to create the Consolidated Invoice. You define the one-time configuration, setting the appropriate guardrails, specify the schedule, and let the bot to the rest. Invoices can be consolidated on-demand or on a set schedule.
Humans are fantastic, but by letting the bot take over this repetitive task, we minimize manual errors, and frankly free you up to do something more interesting!
What other repetitive tasks might you want to offload to a Bot?