Taking the first step is easy
and free of charge.
Our experiences with artificial intelligence are really promising. Also the possibilities of savings are honestly unbelievable.
Snowfox.AI routes and posts our purchase invoices automatically. This has really helped cut costs on both the accounts payable side, as well as the business side. After these experiences, I wouldn’t know how to go back to the way we did things before.
This guide provides a comprehensive overview of how artificial intelligence can be utilized to automate the purchase invoicing process.After reading the guide, you will understand:
What it is now
With indirect purchases, you can reach an automation level of 20—40% by using purchase invoice systems. The rest is done by humans. A manually handled purchase invoice costs at least 10 € per invoice.
What it could be
The AI works in conjunction with the rule-based automation that’s built in invoice processing systems. The work that would normally be handled by humans is then taken care of by the AI—and it costs less than 1 € per invoice.
A lot of companies handle their purchase invoices manually. The manual routing and posting costs around 10 € per invoice. The costs of AI are a tiny fraction of the costs of manual work, and you’ll see the benefits instantly after implementation.
With built-in rule based automation in purchase invoice systems, you can usually have an automation level of 40–70%. You can then automate the remaining purchase invoices with AI with only a fraction of the costs of manual handling. The AI goes through all invoices that you’d normally handle manually.
Implementing AI doesn’t require you to set up an entire IT project. Snowfox.AI can easily be integrated with whatever system you’re currently using to process purchase invoices, using pre-existing interfaces.
Our pricing is based on the benefits you get, which means that you only pay for the automated purchase invoices. Each purchase invoice automated via Snowfox means significant cost savings for your company.
A lot of purchase invoices require manual handling. When you have AI to support you with routing and posting, the costs related to handling purchase invoices drop significantly. Handling them manually costs over 10 € per invoice—and AI will do the same work with a fraction of the costs.
When AI takes care of the routing and posting of purchase invoices, their handling becomes significantly faster. The only remaining tasks are validating and approving the invoices and confirming the posting. This makes the invoices move through the cycle much faster.
With AI, you can automate up to 90% of the manual work required to handle purchase invoices.
Different people post invoices in different ways. With AI, you can make sure that all your processes are aligned, and your reporting is clear and consistent.
To test Snowfox.AI, we need purchase invoices and their postings, as well as the related invoice circulation data from the previous 3—12 months. You can get this information from your invoice operator and purchase invoice system.
When we’ve received the data from you, we’ll start teaching it to our AI. From the data you provide, we give around 70% to the algorithm to learn. During this time, the AI will use the data to learn how invoice posting and routing is done at your company.
After we’ve taught the AI, we’ll conduct the test with the remaining 30% of the data you provided. We’ll then have clear results to show how well the system can predict future routings and postings. We go through the results together with you in further detail.
and free of charge.