Invoice Automation / AP Automation

Invoice Automation - AP Automation Process

What Is Invoice Processing?

Invoice automation processing is the process your company’s accounts payable team uses to handle invoices from various Vendors. It starts when you receive an invoice and finishes when payment has been made and recorded.

How AP Automation works?

Vendor sends invoices to respective initiators. You can receive paper invoices, PDF, or other electronic means. The invoice must either be scanned or manually entered into Sysfore AP Automation System. In case of Scanned copy, Initiator can send to a configured e-mail. With the help of Cognitive service capabilities using pre-defined Invoice AI data model, data will be extracted from invoice copy and create an invoice transaction in the Sysfore AP Automation System built using Microsoft Power Apps & Power Automate.

Invoice Automation Process (Video)

Invoice automation details will be validated with the customer’s existing ERP system. Then, the invoice shall be sent to the respective stakeholder or budget owner for review and approval. The multi-step approval workflows take time but can be automated for faster and more efficient processing. This process is seamless, works smoothly with the Office 365 tools and helps approvers to use approve or reject from their mails in Outlook.

Once the approval process is completed, Finance person can post invoice to ERP system for payment processing. Here the direct integration with the ERP system is done, where the invoice entries and payment processing are initiated from within the Sysfore AP Automation solution. System does 3-way matching and the solution can verify all the Goods Receipt Notes(GRN), Purchase Order(PO) and Advance payments made against the same. Power Automate connectors are used to establish secure connection with ERP’s like SAP, Oracle, Dynamics 365 or use custom connectors for API’s provided by the ERP system. Thus, the entire process is automated, and no manual intervention is required except for the approvals or exceptions.

Advantages of Sysfore AP Automation

  • Reduce human error.
  • Easy track of invoices.
  • Avoid late payments which may leads to additional amount.
  • Integrating invoice processing with ERP.
  • Reduce manual work.
  • More Early pay discounts.
  • Increase Productivity.
  • Enhanced Insight with the help of dashboards.

Technologies Used

  1. AI Builder: AI Builder is a Microsoft Power Platform capability which you can use to bring the power of Microsoft AI to your organization, without the need for coding or data science skills. Reference link to know more about AI Builder Learn More
    • AI Builder helps in extraction of invoice data.
  2. Power Automate: How to use AI model in Power Automate?
    • Triggers when an email arrived to a configured Email box.
    • Create transaction in PowerApps with Data extracted with help of AI Builder.
    • Automates Approval process using outlook email.
    • Integrate with ERP systems like SAP, Oracle, MS Dynamics
  3. PowerApps:
    • PowerApps helps to create forms and also to represents data to users.

Automate your vendor invoice payments today!         

Blog authored by Abhilash M., Power Apps Consultant at Sysfore Technologies.

Microsoft Power Automate

Microsoft Power Automate

Formerly Microsoft Flow, is a solution developed by Microsoft to allow individuals to efficiently build workflow implementations across a wide range of applications and services. Thanks to its easy-to-use GUI that requires no professional experience, Power Automate helps everyone to build workflows.

microsoft-power-automate

Enhance your workflows with AI Builder

Bring intelligent automation to your business processes with AI that’s easy to train and configure within Microsoft Power Automate.

Easily add AI to workflows

Easily build, train, and publish AI models without writing a single line of code, using templates and a guided process, or quickly embed prebuilt components directly into your workflows.

Power Automation

Increase efficiency throughout your organization

Quickly simplify tasks using AI models such as prediction, form processing, object detection, category classification, and entity extraction via a simple, intuitive interface. Get straight to productivity with prebuilt AI scenarios including key phrase extraction, language detection, sentiment analysis, text recognition (OCR), business card reader, entity extraction, receipt processing, and category classification.

Automate your workflows and apps

Focus on high-value work by automating your time-consuming manual processes with AI Builder and the robotic process automation (RPA) capability in Power Automate. Quickly access AI Builder components in Microsoft Power Apps to extract text and visual information using your camera or from available images and documents.

Gain value from your data

Built on the strength of Azure AI capabilities, AI Builder in Power Automate allows you to train and build no-code models and enhance the intelligence of your business apps using your data in Dynamics 365, Office 365, and Common Data Service.

  • Use pre-built automation templates for common automations (within the Flow Gallery)
  • Create you own automations by connecting various applications, such as Outlook, SharePoint Dynamics 365 or non-Microsoft apps like Twitter, Asana, Gmail, MailChimp etc.
  • Set up triggers, alerts, automated emails, push notifications and much more – with no coding and in minutes
  • Overall it allows you to save time, reduce human error and streamline your processes

 

Common use cases for Power Platform

Common Power Platform use cases using Power Apps & Power Automate are as follows:

power-platform-use-cases-2020

Power Platform use cases are listed below:

Asset Management

 – Organizational asset issue and return management, with approval request and tracking, integrated with office 365 providing single sign-on. Separate employee app and asset team app. 

Vendor Invoice Automation 

– Powerful application for efficiently managing your entire vendor invoice management process on-the-go with enterprise-grade security.

Employee Productivity management system

(Attendance, Timesheet, Leave, Reimbursements) – Intended to effectively track your workforce, by monitoring employee leaves, time and attendance, as well as work shifts. 

Inspection & Audit Management

– Integrated app used by the sourcing and quality teams to manage the quality and timely delivery of products by vendors, with clear roles defined for managing the various tasks.

Expense approval system

– Streamlines and automates the workflows associated with creating, approving and controlling expense claims. 

 360 appraisal system

– Sets out automatic reminders of upcoming schedule such as employee appraisals, training course, follow-ups and other important dates and meetings. 

Visitor Management System

– Monitoring and tracking the visitors effectively as well as reduce the risk of unwanted intruders and trespassers inside the facility 

Client or Sales Registration forms

– Lets clients sign up for an account or service with a specific company 

Know your Customer system

– Enables frontline staff to conduct KYC with ease and perfection with defined process and checklists moreover allow users to take customer photos, upload their documents, provide status updates and submit KYC while with customer.  

Capital expenditure Management

– You can automate your Expense approvals, involving your stakeholders, subject matter experts, and managers. It’s a Budgeting solution for any organization that requires multiple approvals. 

Requisition Management System

– Web application to manage the various purchase requisitions of the organisations from initiation, capturing the various product inputs, technical evaluation, vendor management, etc..

Extending your SharePoint Portal using Power App mobile apps – This tool provides a report for each analyzed page showing how the page performs against a defined set of performance criteria.

Also Read More about – Microsoft Power Platform in detail 

Sysfore is a Microsoft Gold Partner with unique customer stories using the Microsoft Power Platform. Being a low code/no code platform, partner could help customer in quickly building apps for their key business challenges leveraging the various solution components. As requested sharing with you the solutions which Sysfore has already built on Power Apps platform for customers.

Get Sysfore Cloud Managed Services For Your Enterprise

Sysfore, A Microsoft Cloud solution provider and a Gold Partner, uses leading network, technology, and service expertise to deliver our service anytime, virtually anywhere, quickly and efficiently. We have helped over 80 small enterprises and 30 mid-sized enterprises across the globe for a successful cloud migration in the past 8 years.
Contact one of our experts today and we will help you find the perfect solution for your business. Write to us at info@sysfore.com or give us a call at +91 (80) 4110 5555.