Breaking language barriers with AI, for efficient invoice processing
Leon Muller, the Director of Finance and Accounting at a major European producer of induction devices, was determined to find a solution to tackle the lack of efficiency in their invoice-to-pay process. Taking decisive action, he partnered with Infosys BPM to transform the accounts payable process with an AI/ML model. The outcomes were impressive as the initiative improved efficiency by 30%, reduced processing time to 2 days, and drastically minimised backlogs, delivering a substantial $300K in cost savings
Approach summary:
- Reviewed process for inefficiencies
- Identified invoice formats, languages, and dialects
- Ensured availability of infrastructure for external environment
- Trained the AI/ML model
