Accounts Payable Automation
WNS AP Team using ACE RPA
Financial services is one area where RPA is getting implemented rapidly. 34% of the financial organizations rely on manual process and 47% of the AP professionals consider manual data entry & inefficient processes as their biggest challenge.
Below is one of our success stories of Accounts Payable Automation in the WNS using the ACE Platform.
AP process now has fully automated Vendor Invoice Processing cycle right up to Payments, using WNS Intelligent Accounts Payable Automation Platform based on ACE!
WNS Accounts Payable Automation Steps
Using ACE Platform
Indenting Team submits the invoices to Accounts Payable team.
Accounts Payable team then scans the Invoices to an FTP folder.
ACE Engine automatically picks invoices and extracts contents using OCR.
ACE Machine Learning algorithm then enhances the extracts.
First time invoices are trained by users to identify key accounting fields.
After Invoice Training, ACE displays data in the MAKER queue.
ACE automatically detects confidence level of the extracted data.
And if confidence on a particular extracted field is low, it highlights those field for makers to check and correct.
Makers reviews all fields and can modify the filed if required.
Makers can Hold or Reject Invoices having issues, otherwise release the invoice to move forward.
Post Submission by Makers, Invoices moves to CHECKER queue.
Ensures segregation of duty and process compliance.
Checker Logs into ACE and performs quality checks, and can Approve, Reject or put an invoice on hold for further investigation.
ACE then automatically extracts data of Approved invoices and submits to Robots.
Robotic Process Automation then automatically books invoices in Oracle.
Oracle workflow then passes the invoices to Payments team for Payment Processing.
ACE Dashboard provides enhanced visibility to entire life cycle of the invoices at a click of button.
The entire AP Process can be automated using Automation Tools like ACE. There are lots of Automation solutions available in the market, we at ASKEYGEEK Consulting can help you do the end to end automation with the right Automation tool that suits your business requirement.
Please Contact Us before making your Automation Investment, we are happy to help!