One problem in the AP space that results in financial loss is processing duplicate invoices or payments made to suspicious suppliers. Finding duplicate invoices requires extensive manual effort and is usually tedious for an AP Staff.
Below are some of the standard AI models that are run across the invoices as soon as they are through the reviewing process -
Duplicate Invoice Check
Autonomous AP checks for duplicate invoices, using deep models to flag invoices as high-risk once they are ingested and match the previously processed invoices.
Duplicate Across Expense Check
This model checks to see if an invoice duplicates an expense report already processed and will flag it if it finds a match.
Supplier Check
The Supplier Check audit helps avoid fraud when dealing with certain Suspicious Suppliers. If a supplier's name on an invoice matches an entry in the AppZen source list(s), the supplier checks audit flags the invoice as high-risk.
Enabling Checks from the Exception Settings Page
In addition to the audit model settings available in Autonomous AP, we also allow the early processing of Duplicate Invoices and Suspicious Supplier Checks through the custom exceptions page.
This feature allows the system to configure and flag duplicate invoices and supplier checks as standard exceptions in the “Review Data” state itself.
With the checks enabled from the Exception Settings, it allows the systems to identify duplicate invoices or invoices with suspicious suppliers in the ‘Review Data’ saves valuable time for AP staff and prevents them from working on spurious invoices.
NOTE: Furthermore, the exception messages for duplicates provide clear information on why the flagging is happening, empowering AP staff to take appropriate action swiftly and accurately. |
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