Role of Al in AP Invoice Automation – Top 5 Things to Know

Enterprises have witnessed the transformative benefits of automation through its deployment across multiple business processes, including automating Accounts Payables (AP). However, the whole context of automation changed with the introduction of Artificial Intelligence (AI).

Traditional AP process automation performs well based on a predefined set of instructions – often hardcoded into the system. However, there are several instances where rule-based process automation fails. One key area is when the system fails to extract data from invoices. It happens commonly with AP teams, as they witness invoices bearing diverse types and formats – ranging across multi-invoice, multi-page, scanned, and invoices in PDF, JPEG, formats etc. Also, rule-based automation cannot determine fraudulent transactions, and AP fraud risks remain high. AI-powered workflows deliver actionable decision-making insights on a real-time basis to business teams which traditional automation cannot.