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Cherrywork Digital Applications

Pre-packaged, ready to deploy applications

Overview

Intelligent Task Management
Deliver Intelligent Notifications, Tasks and Process
Insights in Real-time

In-Store Perishables Management
Enable grocery retailers to prepare for
peak hour sales

Accounts Payable Automation
Automate Tasks for Better Visibility and Control
over Financial Data

Proof of Delivery
Organize, Manage and Track Shipment Detail
in Real-time

Supplier Collaboration Portal
Gain Control over Supplier Data and
Collaboration across the Processes

Collaborative Order Management
Simplify, Streamline and Integrate Orders to
Grow Revenues

Intelligent Price Management
Manage Pricing and Respond to Marketplace
Changes Quickly

HXM Modernization Suite
Deliver More Intuitive, Engaging Experiences that
Boost Productivity

Travel and Expense
Control and Manage Travel Expenses with
Real-time Visibility

Resource Management
Plan your Resources and Project Schedule
Effectively

Time and Attendance
Manage the Total Workforce with Insights
and Flexibility

Advanced Metering Analytics
Transform SMART Meter Data into Actionable
Intelligence

Predictive Asset Maintenance
Balance Risk and Maximize Value Across the
Asset Lifecycle

Digital Solutions

Overview

Robotic Process Automation

Application & Process Integration
Connect People, Processes, and Applications to
Build an Intelligent Enterprise

Robotic Process Automation
Mobility
Leverage Enterprise Mobile Applications for
Agility, Scalability, and Availability

User Experience
Visualize Business Operations with
User-Friendly and Intuitive Designs

Data Management and Analytics
Utilize Actionable Insights with Advanced Data Analytics

Robotic Process Automation
Robotic Process Automation

Hyperautomation

Robotic Process Automation
SAP BTP Starter Pack

Industries

Consumer Products & Retail
Drive Intelligent Value with Digital

Manufacturing
Digitize E2E Value Chain

Oil and Gas
Extend Beyond the Barrel with Digital

Life Sciences
Improve Patient Outcomes and Safety

Cherrywork.com

Faster Invoice Processing with AP Automation

WRITTEN BY

Incture
PUBLISHED​
17th October 2021
HR TECHNOLOGY
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How intelligent is your process to understand the payment invoices and receipts? One of the biggest challenges for the accounts payable section of any organization is the tracking and maintenance of numerous bills. As businesses struggle with issues like invoice processing delays, processing errors and late payment fees, it’s imperative that accounting automation tool is the ultimate set-up.

Enterprises are increasingly aware that paper and people-based processes lead to high AP transaction costs and missed business opportunities. In a recent survey, 42% of the organizations stated that they were experiencing delays in receiving invoices and/or difficulties in information matching. Researches show that automation is the ultimate way forward for cost savings and improved efficiency.

In fact, companies with best-in-class automation ‘are 89% more likely to view AP as either exceptionally or very valuable from a strategic perspective’. Taking a cue, Incture technologies have built Cherrywork’s Accounts Payable Automation (AP automation) application, with basic Artificial intelligence (AI) algorithm, predictive analysis and distinctive 2-way and 3-way matching process.

Successful implementation of this tool is reducing the invoice-processing time by over 50%. This tool reads the invoices in various formats (paper, email, PDF, XML, EDI, etc) from every possible source. The Optical Character Recognition (OCR) scans the invoice headers and line item data and converts it into a readable data. From OCR, the data is then uploaded in the SAP landscape. Hence reducing the time-limit invested on reading the invoice by almost 200 percent.

PROCESS FLOW

It is a complete, integrated solution that addresses full range of functions across the accounts payable process. It includes invoice capture, single point of entry, scanning, data validation, extraction and integration with SAP, electronic routing for approvals and other workflow (exception handling), Two Way Match, Three Way Match, Planned Cost, Unplanned Cost Details, PO / Non PO based invoices with all process variants.

One of the world’s largest online grocery store has been successfully auto-posting almost 500 invoices every day. It even routes the invoice/bills to the accounting clerks and has made the system paperless. Unique functionality of 2-way and 3-way matching helps to segregate the line-items of the invoices

Benefits

  • Reduces the cost of operations
  • Speeds up the Invoice processing
  • Paperless format to add more value
  • Suppliers/vendors get payment on time
  • Processes purchase-order (PO), non-PO and recurring invoices
  • Lessens the operational complexity
  • Increases profitability

Be a part of our journey and if you believe in transforming businesses, reach out to us at marketing@incture.com for a free demo!

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