Accounts Payable (AP) is a resource-intensive business process in large enterprises for paying vendors within contractual payment deadlines for goods and services procured from them. There are multiple verifications before payment to the supplier/vendor. After the validations, the invoice flows through several steps such as vendor identification, line-item matching for Purchase order (PO) based invoices, Accounting Code identification for Non- Purchase order (Non-PO) based invoices, tax code identification, etc. Currently, each of these steps is mostly manual and cumbersome making it labor-intensive, error-prone, and requiring constant training of agents. Automatically processing these invoices for payment without any manual intervention is quite difficult. To tackle this challenge, we have developed an automated end-to-end invoice processing system using AI-based modules for multiple steps of the invoice processing pipeline. It can be configured to an individual client’s requirements with minimal effort. Currently, the system is deployed in production for two clients. It has successfully processed around ~80k invoices out of which 76% invoices were processed with low or no manual intervention.

Accounts payable refer to the practice where organizations procure goods and services on credit which need to be reimbursed to the vendors in due time. Once the vendor raises an invoice, it undergoes through a complex process before the final payment. In this process, tax code determination is one of the most challenging steps, which determines the tax to be levied and directly influences the amount payable to a vendor. This step is also very important from a regulatory compliance standpoint. However, it is error-prone, labor (resource) intensive, and needs regular training of the resources as it is done manually. Further, an error in the tax code determination induces penalties on the organization. Automatically arriving at a tax-code for a given product accurately and efficiently is a daunting task. To address this problem, we present an automated end-to-end system for tax code determination which can either be used as a standalone application or can be integrated into an existing invoice processing workflow. The proposed system determines the most relevant tax code for an invoice using attributes such as item description, vendor details, shipping and delivery location. The system has been deployed in production for a multinational consumer goods company for more than 6 months. It has already processed more than 22k items with an accuracy of more than 94% and high confidence prediction accuracy of around 99.54%. Using this system, approximately 73% of all the invoices require no human intervention.