Accounts payable teams of companies and financial institutions keep track of invoices and identify exceptions before disbursing the right amount to the right vendor on time. But this process can slow down or stall due to ineffective data capture, invoice mismanagement, an insufficient amount for payment, poor record keeping, and so on. Processing invoices amongst large volumes of them is tedious and time-consuming. If fraudulent invoices are submitted and paid, they also get paid along with legitimate transactions without verification of vendors.
An AG-designed bot can automate all SAP transactions
Eliminating monotonous office work
- Fully automated financial reporting anytime
- Fast and effective usage of resources
- Eliminates routine and mundane invoice processing
Reduces human errors
- Error-free financial processes
- Improved efficiencies and turnaround times
- Maintain high accuracy standards
Bot workflow customised to business-rules.
- Searches and finds documents based on parameters
- Checks through documents for consistency in details provided
- Status of the process reported
Run the bot out of office hours.
- Manages invoice processing 24/7
- Provides insight by generating crucial reports anytime
- Increase in productivity while saving man-hours
At AG, we have developed The Payment Run Proposal bot powered by SAP Build (iRPA) solutions that automate regular business processes for account payables. It makes payment processing simple, faster and accurate. Meets targets of vendor payments by clearing payments in minutes, which otherwise would require almost a month. With this bot, payments workflow can be repeatedly run several times a month and make payments against large volumes of invoices on time. With in-built AI capabilities, the bot provides intelligence to the accounts payable process and handles all operations effectively.
- Business Process - Finance
- Category - Account Payables
- Automation Type: Unattended
Conventional accounts payable process flow:
- Enters list of multiple company codes
- Runs payment proposal for each company code
- Manually checks for errors in the payment proposal identifies and marks them.
- Creates a payment exception report by copying comments, creating lookups etc.
Bot configuration steps
- Runs through the list of input parameters.
- Bot logs into SAP
- Accesses Payment proposals based on company codes
- Enters given parameters
- Runs SAP F110 proposal
- Gets payment exceptions
- Creates payment exception list
- Sends report
Reduces human-made errors almost to zero
- Handles data from many invoices with accuracy
- Eliminates chances of duplicate invoice settlements and overpayments
- Makes auditing less cumbersome
Increase productivity to get direct ROI
- Saves up to 1000 man hours per annum (from 2 + FTE's)
- Automated process even out of normal business hours
- Ensures faster clearance of payments based on company accounts balance
Eliminating external and internal fraud
- Better tracking and visibility of invoice processing
- Derive insights with end-to-end analytics, monitoring, and reporting
- Ensure strict adherence to accounting processes
Enhance vendor relationships
- Automated document archival and easy discoverability
- Workflow repeated based on guided configuration every time
- Execute vendor payment proposals in minutes with high accuracy