Processing invoices

Now that we understand the different invoice formats, let's explore how invoices are processed and how the Onventis Hybrid Artificial Intelligence setup can help organizations save time and money.

Coding dimensions based on a purchase order
Regardless of the invoice format, if a purchase order is linked, matching can often be done automatically using a three-way match. This is highly beneficial as the purchase order already indicates the relevant financial dimensions (cost center, general ledger, etc.) and confirms receipt.

Coding dimensions based on artificial intelligence

When a purchase order is unavailable, the process becomes more complex. In such instances, we leverage Artificial Intelligence to generate a coding proposal. This proposal is derived from various factors, including invoice details, historically booked invoices, and your financial dimensions. This approach ensures that invoices are consistently coded, even without a purchase order.

Coding dimensions based on supplier defaults

In some cases, specific suppliers deliver only certain goods that can always be booked under the same financial dimensions. For these scenarios, the AI-generated coding dimensions can be disregarded, and the default booking dimensions can be used instead.

Summary

In summary, Onventis Invoice Processing typically relies on purchase orders, AI-powered coding proposals, or supplier defaults to determine the coding of invoice lines. Whether the invoice is from a one-off supplier or a frequently used one, our various methods can always provide you with an accurate coding proposal. This will save you time and money while enabling faster invoice payments.

This article explains the invoice processing methods available. Many existing customers have specific setups in place. To enhance your current setup, such as adding AI coding proposals, a consultant will need to configure it. Your account manager can discuss the available options and license costs with you.