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NavBot - AI-based Invoice processing


Business Problem

Accounts Payable is a key process or department under finance of any organization. In Accounts Payable process, handling invoices demands takes several hours of a finance executive's every month, in which there will be lot of  human intervention. Vendor invoices pileup at end of the month causing major challenges The and that be very costly due to the high scope of errors and slower processing time. And also processing the invoices too slowly will result in hefty penalties and delay in payments.

Business Challenges

Inevitable Human errors

Repetitive Tasks 

Increased Operational Risk

What does the Invoice Processing Bot do?

This software robot named Invoice Processing Bot use Intelligent Optical Character Recognition (OCR) which helps in extracting required Invoice's information from different types of formats (including picture copies). Then bot inputs to ERP and proceeds for initating the Payment from Corprate Bank Account.


Reduction in Turn around Time

Reduction in Manual Efforts

Increase in Data Accuracy

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