Innovate Inc. Cuts Invoice Processing Time by 90%
By implementing the AI Streamline platform, Innovate Inc. automated their entire accounts payable workflow. This led to a 90% reduction in processing time, a 20-hour work week saving, and the elimination of manual data entry errors.
The Challenge
Innovate Inc.'s finance team was spending over 30 hours per week manually processing hundreds of invoices. The process was slow, prone to human error, and made it difficult to track payments accurately, leading to occasional late fees and strained vendor relationships.
The Solution
Innovate Inc. used the AI Streamline platform to build and deploy an AI agent that automatically ingests invoices from emails and scanned documents. Using our platform's built-in document processing features, the agent extracts key information, validates it against purchase orders in their ERP system, and flags any discrepancies for human review.
The Results
Within the first month, invoice processing time was reduced by 90%. The finance team reclaimed over 20 hours per week, which they now dedicate to strategic financial planning. Manual data entry errors were completely eliminated, and the company has not incurred a single late fee since implementation. The ROI was realized in just under three months.