Live in less than 3 weeks, over 90% Accuracy
A leading manufacturer of advanced aerospace vehicles and components deployed Automation Anywhere’s cloud-native intelligent document processing solution, Document Automation, as its invoice processing solution to manage the growing number of vendors. The current process was entirely manual, with invoices being received across multiple channels, invoices of variable format, and the data manually keyed into the system of record.
The new data extraction system provided insufficient precision, achieving less than 60% accuracy, and the straight-through processing (STP) metrics were falling short of the targeted thresholds, with a success rate of less than 40%. Consequently, this led to an increase in manual document validation, resulting in significant processing delays and an accumulation of penalties due to late payments.
The Solution
The MOZAIQ team was called in to redeploy and optimize the Document Automation platform from scratch.
- An initial set of 10 vendors was used to train the extraction model.
- New vendors were deployed onto the trained model and extraction optimization was performed during the development phase.
- Post-production defect management was provided by MOZAIQ as a managed service, and a human-in-the-loop system was incorporated into the solution to validate the data.
The Benefits
The re-deployed and optimized Document Automation solution achieved accuracy levels exceeding 90% and straight-through processing goal of over 90%.
- The solution was in production in less than three weeks, enabling the customer to work through the invoice backlog and eliminate the late payment fees
- The customer could effortlessly onboard new vendors with minimal effort using the newly trained model
- The involvement of a human-in-the-loop guaranteed minimal problems with data extraction and offered validation for documents from new vendors
