Blogs, Finance, New features
Deal with invoices faster than ever. Harness the power of AI and automatically recognize Purchase Invoices
21 September, 2023
3min. reading time
Logistics is consistently progressing and evolving. This requires constant adaptation and integration of new features in your software solution. That is why over 300 logistics service providers have opted for Boltrics’ commitment to staying up-to-date. With this assurance, you can rely on having access to the latest logistic functionalities and modules. At all times. To effectively streamline your processes and save as much time as possible on tasks. Such function you can look out for is our new AI-powered functionality, which allows you to automatically recognize purchase invoices. This function is already used by our customer Hudig & Veder to recognize the invoices of their suppliers. It can help you save a lot of time when dealing with an influx of invoices. Continue reading to find out how.
Save more time. Automatically recognize purchase invoices with AI-based functionality
How can you use the new function? In 3PL Dynamics, artificial intelligence is used via Microsoft Cognitive Services. In this way, with the help of AI, you simply begin by dropping your invoices in a share. From there, our software picks them up and creates structured information based on your input. You get 100% of Vendor names, 100% of Invoice numbers and 100% of Total amount as recognition results. 3PL Dynamics connects this information towards the contract line referencing the External Vendor Nr. If there is a match based on External Vendor Nr and amount, Purchase Invoice Recognition connects the contract line to the invoice. Afterwards, the purchase invoice gets the status released. From that moment the invoice can be posted in the next batch… And be paid. On average, you can expect to save up to 5 minutes of work per invoice with this new function. And when you have countless invoices to go through, that can be a huge time saver for you.
Say bye to (most) manual inputs
With the new Purchase Invoice Recognition, manual action is required only in a few cases. For example, if the currency changes, the license needs to be expanded or there is information missing in the contract module. Once you take care of all those things, status released is given and the invoice can be posted in the next batch and be paid.
Recognize and process incoming documents automatically with your logistics software
The rise of artificial intelligence (AI) is inevitable. But where a few years ago, we could only guess the practical use of AI, whole texts are now written with the help of AI programs like ChatGPT. And AI offers solutions for your logistics processes too. Maybe not by generating texts but definitely by recognizing them. In this (self-written!) blog, we share different ways in which you can successfully put AI to use in your logistic operation.