RPA to automate invoice processing : Use Case

InvoiceIt takes many days to process an invoice from receipt through payment approval.

Robotic process automation is streamlining the invoicing process to reduce valuable time and resources, and can make finance & accounting departments more efficient.

Despite all the innovations and technologies, invoice processing is still burdened with a large number of manual tasks and inefficiencies.

AP and finance teams that are already leveraging Robotic process automation are experiencing powerful benefits across a number of dimensions including reduced costs, improved compliance, quality/accuracy, and productivity.

From a workforce perspective, RPA improves staff satisfaction by taking over monotonous tasks. allowing individuals to focus on higher value work.

Invoice Formats : Paper copy, a Word document, a PDF email attachment, or a fax

RPA software robots can automate data input, error reconciliation, and some of the decision-making required by finance staff when processing invoices.

Invoice Proccessing Flowchart
Invoice Proccessing Flowchart

Invoice Processing Step-by-Step

  • RPA software robots are able to constantly monitor a email or dedicated folder where invoices are saved.
  • Once robots detect the presence of an invoice in the folder, they begin to extract information from the document.
  • Robots extract the key information from each invoice, they use their credentials to open the company’s database or enterprise resource planning system (ERP).
  • After successfully registering each invoice, the software robots are then able to send posting notifications in the form of emails to the responsible employee or to the vendor in question.
  • An email is also sent to the responsible party in case of an exception.

Limitations of RPA : Invoice Processing

Every technology has its limitations, and RPA is best viewed as an additional cost reduction lever.

  • RPA has limited capabilities in case of unstructured inputs.
  • Diverse inputs coming from multiple sources can be a challenge.
  • There will always be a volume and cost threshold below which RPA is not an economic solution.
  • Applying RPA to a broken and inefficient process will not fix it

RPA ToolsPopular Robotic Process Automation Tools
UiPathManage credentials, encryption and access controls, faster automation through Citrix
Automation AnywhereBank-grade security, authentication, encryption, and credentials, Real-time reports and analytics
Blue PrismMulti-environment deployment model, Network and software credentials Security, Multi-platform
high-volume, repetitive tasks, bridging system and data integration gaps at scale
Power AutomateMicrosoft Power Platform
NICE Systemsmakes routine desktop tasks easy, fast and error-free, for improved efficiency, customer satisfaction and employee engagement.
Kofaxautomate repetitive tasks and manual processes
OthersRedwood Software, Contextor, Jidoka, Kryon Systems, Visual Cron, WorkFusion, Inflectra Rapise