Maximize Efficiency with Accounts Payable Invoice Automation
The Cevinio accounts payable invoice automation SaaS solution contains processing software that has the capability to handle your end-to-end invoice process; from invoice reception to posting into your current ERP system(s). During this process, we apply machine learning, artificial intelligence and smart algorithms to deliver an autonomous accounts payable process.
Your journey towards a touchless invoice process starts and ends here, in 5 easy steps:
Step 1
Importing and OCR Recognition
Step 2
Initial analysis and batch splitting
Step 3
PO and non-PO invoice classification
Step 4
Compliance and accounting
Step 5
Approval and exporting
The Strengths of Cevinio's platform
Cevinio provides an innovative accounts payable automation solution (that offers a range of powerful features) to help companies streamline their invoice processing flow. Some of the key strengths of our software include:
Read invoices like a human:
intelligent approach where no templating is required. We further reduce manual intervention as we split invoice batches with high accuracy, and without the requirements of barcodes or other mechanisms.
Consolidate global operations:
ability to serve multiple shared service centers, and a large number of suppliers, across entities and invoices in multiple languages. In addition, we help you automate complex invoice scenarios (involving the responsible departments), run all required compliance checks, and export the invoice into the relevant ERP system.
Monitoring and control tools:
set of functionalities and solutions to monitor the invoice processing flow. Discover our precise Cevinio Analytics Suite and advanced approval workflow. The latter is easily configurable and supports all best practice paths for informative and approval processes. We also can generate audit trails, flag deviations, and help prevent fraud and duplicate payments.
Smart approach to automation
by using artificial intelligence, machine learning and our proprietary algorithms, we provide automatic PO matching and non-PO coding (general ledger, cost center, project, divisional units) of invoices ensuring correct bookings. This all contributes to autonomous AP processing.
Features that Transform
Cevinio's accounts payable invoice software is a game changer for multinationals looking to streamline their invoicing process at scale. With a range of cutting-edge features, our solution is designed to meet their demands; such as advanced data matching capabilities, automated compliance checks, coding of PO and non-PO, and insightful analytics.
OCR Recognition, reading invoices resembling a human
- Eliminates templates: we have developed an algorithm that matches the OCR (data on the invoice) with the information found in the Master Data
- Sorts and splits scanned invoices without barcodes or separating pages
- Compares unstructured data on the invoice (no templating required) and the structured data from your VMD (Vendor Master Data) to identify the vendor
- Uses machine learning to recognize data fields such as invoice number and invoice date
- Auto-corrects errors of scanners (0 vs O, 1 vs I, B vs 8, etc.)
Automated non-PO invoice coding on header level and GL accounting lines
- AI (Artificial Intelligence) and ML (Machine Learning) based
- Audit trail of posted invoices
Invoice approval workflow tool that is rapidly scalable
- Easy to maintain without IT involvement
- Features like delegation, inquiring advice, and escalation
- Operational with any type of mobile device
- Supports both approval and informative flows
Analytic tools available with Cevinio Suite
- Productivity
- Accuracy
- Audit trail
- Volume
- Workload and aging
- Workflow
- Invoice splitting stage
- Supplier performance
Ability to handle any kind of invoice
- EDI
- E-invoicing: XMl, UBL (any version)
- PDF (image & text)
- TIF, JPEG
- Scanned paper invoices
- PO & non-PO invoices and credit notes
PO/non-PO invoice classification
- AI based
- Automatically connect multiple purchase orders to a single invoice using OCR data.
Compliance toolbox for tax, legal and corporate compliance
- Algorithms take-over current compliance checks
- Easy detection of discrepancies and exceptions on invoices: automatically presented to a specialist for exception handling
- Toolbox that can anticipate future changes
Vendor invoice portal as well as connectivity with other portals
- Onboarding of your suppliers free of cost
- Your suppliers can use the portal for free
- Unlocks access to e-invoicing portals worldwide
- PO-flip
Benefits of processing your invoices with Cevinio
When processing your supplier's invoices with Cevinio's accounts payable invoice automation solution, the entire invoice management process is covered. Discover the benefits of 24/7 lights-off robotized Accounts Payable processing:
Standardize AP invoice processing across shared service centers and offices. Cevinio can handle a wide variety of invoice types in different languages, and can connect to multiple ERP systems simultaneously.
Cevinio has specialized tools that can handle unstructured data (scanned invoices...) with structured master data, which results in high accuracy, increases efficiency and reduces human errors./p>
Invoice allocation to AP teams based on easily configurable elements, such as company codes, specializations, and other criteria, which ensures the invoice goes automatically to the right team, to avoid payment delays.
Ensure invoices remain compliant with global and local regulations, including tax laws, country laws, and corporate requirements. This avoids penalties and risks of fraud.
Automated accounting data enrichment for PO and non-PO invoices, reducing AP agents matching and coding time.
Avoid late payment fines and blocked accounts (from your suppliers) by ensuring timely payments using our monitoring and escalations functionalities.
Smart design allows us to configure new compliance checks, invoice attributes, rejection reasons and other business requirements (all configurable in our SaaS solution).
Improves communication and efficiency by providing vendors with a portal where they can submit their invoices and view their invoice status.
After deciding to adopt Cevinio, we will be at your side to guarantee a seamless implementation process that supports your business objectives.
Technical features
Fully Cloud-based solution, connecting to multiple ERPs
Cevinio has created APIs that can deal with a complex ERP landscape. We can easily work with Master data duplication issues that often occur when multiple ERPs are being supported. This smart technology makes integrating with Cevinio easy and efficient.
Simple integration via API
Our well documented APIs and knowledge of the most common ERP systems, allow easy integration with our APIs. Thus, removing the risk from implementing our solution.
Archiving and data protection
Within the Cevinio solution, you can rely on a powerful and validated tool for archiving and storing your data. Furthermore, we can easily connect with your archiving system of choice.
SLA, Backup & Recovery, ISO27001
All developments Cevinio performs are continuously monitored and validated to maintain stability over the platform. We employ very strict backup and recovery policies, and adhere to a high level when providing services to our clients in our SLA.
Trust Cevinio: Delivering Reliable Solutions with Industry-Recognized Certifications
