Invoice Processing and Reconciliation Automation

Industries: Healthcare. Supply chain
Systems: IFS ERP platform 

Overview: 

No matter what the industry is in today’s business environment, organizations are searching for ways to automate business processes. One fast-growing area is Intelligent Document Processing (IDP). CampTek, as a leader in this market, was selected to conduct an automation feasibility assessment for a large healthcare surgical supply provider.  

Problem: 

CampTek found that the invoice processing and reconciliation process was a heavy manual and antiquated process. The manual effort processes direct and indirect invoices into IFS, and their ERP system caused delays to payment, inaccurate coding, and high employee utilization. 

Solution: 

CampTek’s Bot LifeCycle (BLC) solution was selected to build, host, and support the end-to-end process. As part of the automation, the bot receives invoices via email and feeds them into the IDP solution, ABBYY, for reading, parsing, and processing. The bot then takes the data and logs into IFS to perform reconciliations between IFS and the invoice. The solution can also send unknown or unreadable invoices to the validation station for human-in-the-loop adjudication, which can then return the invoice to the queue. This human intervention aids the AI (Artificial Intelligence) model, which will continue to increase its overall success rate.