3x Invoice Processing Volume

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90% Accuracy and 90% Straight Through Processing

A leading U.S. home furnishings wholesaler (the client) needed to automate the data extraction and data insertion for their invoice processing functions to reduce the turn around time required to process invoices, and to reduce the frequency of human errors, as the entire process was being performed manually. This impacted the client’s bottom line as errors directly translated into financial penalties.

The client chose to deploy Automation Anywhere’s cloud-native Document Automation platform as the data extraction platform. However, given that the client processed invoices in different formats from over 50 vendors, the training of the platform was taking too long, and the expected benefits were not being achieved.

The Solution

The client hired the MOZAIQ automation team to implement the Document Automation data extraction solution, given MOZAIQ’s experience in having deployed the platform with multiple other clients.

  1. A subset of eight vendors of the overall 50 vendors was used to train the data extraction model so that the model training time could be minimized
  2. New vendors were then fed to the trained model and any issues in extraction were fixed during the development phase
  3. Post-Production defect management was provided to the customer as a managed service
  4. Data validation, when required, was enabled in the workflow via a human-in-the-loop support function

The Benefits

The solution deployed into production surpassed the 90% accuracy metrics and successfully met the straight-through processing goal of 90%.

  1. The development, configuration and deployment process of the solution took 3 weeks
  2. Using the Intelligent Data extraction platform resulted in faster execution of invoice processing by 3x
  3. The client is now able to train new vendors with a minimum effort on the newly trained model
  4. The post-production defect management managed services combined with the human-in-the-loop support function ensured minimal extraction issues and enabled real-time validation for the new vendor invoices
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