Miz – AI Accounts Payable Executive

Miz – AI Accounts Payable Executive

Profile

 

I am a digital AI co-worker who has been pre-trained on various Accounts Payable workflows, multiple invoice formats, and AP process logic. With my extensive experience in automating the Accounts Payable process and AP cycle processing for enterprises, I collaborate closely with the Accounts Payable team to ensure smooth end-to-end invoice processing. 

 

Unlike manual processing, which is susceptible to errors and frequently results in unnecessarily prolonged turnaround times (TAT), delayed payments, supply chain disruptions, vendor dissatisfaction, and extra expenses, I adeptly optimize the process, ensuring the AP team meets with none of these challenges.    

 

I handle complex exception workflows, which are otherwise resource-intensive and involve inter-departmental back-and-forth communication. My capabilities include detecting patterns and mitigating potential issues like fraud, delayed financial closure, and reduced process visibility. 

 

I am designed to flexibly handle evolving Accounts Payable workflows. Additionally, traditional OCR systems can face challenges when processing complex data, but I leverage ICR (Intelligent Character Recognition) and Cognitive Process Automation (CPA); technologies far more superior than Robotic Process Automation (RPA) and Optical Character Recognition (OCR), to efficiently manage intricate data structures.  

 

Moreover, adapting to new invoice templates can be a cumbersome task for many, but I excel in this area by seamlessly accommodating various invoice formats; I am alao capable of performing template-free extractions. My versatility ensures that the Accounts Payable process remains smooth, regardless of the template changes, all while maintaining efficiency, accuracy, and adaptability to evolving workflows. 

 

Here’s all that I can do within a training time of 6-8 weeks: 

  • Monitor and classify invoice-related information from multiple channels such as web, chat, email 
  • Identify the source of the information as sent from a known vendor 
  • Extract information from various invoice types 
  • Handle handwritten invoices (60-70% accuracy) 
  • Manage poor quality and noisy invoices 
  • Implement multi-level approval for non-PO invoices 
  • Auto-tag fields for untrained invoices 
  • Manage vendor queries with conversational AI 
  • Extract and decrypt QR codes for eInvoicing 
  • Manage escalations via email, MS Teams, WhatsApp, and more 
  • Run 2-way, 3-way, and n-way matches as well as matches against government portals for validation   
  • Communicate with vendors for missing information or discrepancies in invoices  
  • Send extracted data for approvals based on the workflow logic
  • Achieves data cleansing and normalization 
  • Facilitate approvals as per the defined hierarchy 
  • Send reminders and follow-up to the finance team as per the TAT   
  • Process PO as well as non-PO invoices   
  • Process payments based on pre-authorization 
  • Facilitate the final data push to the ERP accounting software 
  • Store the invoices in an internal system  
  • Showcase a custom-built dashboard for analysis of invoice processing  

Skills

 

  • I have the ability to extract data irrespective of the vendor invoice format 
  • I can do a 2/3 way check for invoices against a PO/GRN 
  • I can read and handle multipage/multicurrency formats 
  • My machine learning skills allow me to learn with every interaction and improve continuously as more data is fed in 
  • I learn from your functional expertise 
  • I also learn from initial training and information gathered over context and intent-based conversations 
  • I can follow workflows designed specifically for your organization 
  • I don’t need a techie to train and maintain me 

Integrations

 

  • REST API, SOAP API
  • Backend System: SAP SuccessFactors, NetSuite Oracle, QuickBooks, Tally
  • Middleware: IPAAS, MuleSoft, Tibco
  • Public domain websites
  • Java plugin scripts, Selenium

Results Delivered

  • Saved up to 30% of operating costs 
  • 74% faster processing of invoices and payments 
  • 10x less fraud with electronic transactions as opposed to paper checks 
  • 74% of time freed up for employees, otherwise spent on rote tasks 
  • Successful upgrade from a data-entry to a data-driven organization
  • Reduced invoice processing time by 7.8 days 
  • 24*7 availability for user query resolutions through vendor FAQs 
  • 100% business continuity 

Deployment Channels

 

  • Omnichannel support available
  • Client-specific intranet and extranet websites and apps
  • Social Media:  
  • Collab Platforms:   
  • Communication Channels:    and other internal channels

I Can be an Excellent Colleague With

 

Other E42 AI co-workers including AI Accounts Receivable Executive and AI Employee Assist – intelligently automating your enterprise across functions!

Have Questions? 👉  We’re All Ears!

Objective

 

  • To reduce the burden of repetitive tasks, improve user experiences, and enhance vendor relationships for Accounts Payable teams
  • I speak – 16 global languages including English, French, Arabic, Hindi, and Urdu along with numeric and text identification.
  • I escalate the incomplete processes and transactions for human intervention on – Email, MS Teams, WhatsApp, Web
 

Powering Digital Transformation & Secure IT Solutions

Contact Info

Mon - Fri : 8:00am-05:00pm (CST)
+1 (412) 294-8722
info@amnext.tech

Office Address

6400 N Cicero Avenue, Suite 607 Lincolnwood, Illinois – 60712