Accounts Payable Automation
One of the burning business problems that has led to inefficient business processes is optimizing accounts payable (AP) process. Despite extensive engagements around ERP, OCR and various other document handling and e-invoicing, the core pain points persist. One of the solutions that companies go for in such circumstances is outsource the entire function and capitalize of cost arbitrage.
Below are some of the key roadblocks for efficient AP processes-
Unstructured & silo-ed data
Lack of standardization in invoicing
Manual discrepancies and handling of the same
Cognilytic’s AP Automation Solution
Customizable workflow rules & logics: We appreciate the fact that business processes evolve as businesses grow over time
Approval & issue resolution: Rule based, auto-approval workflow criteria in turn limiting human involvement
Regulatory compliance & governance embedded in the solution
Automation- Data capture and extraction: High accuracy Computer Vision based scanning feature
Therefore, connect with Cognilytic today to embark on the exciting journey of tech adoption to streamline your Accounts Payable processes
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