Invoice Reconciliation

Optimise invoice reconciliation processes using the power of automation with Firemind

Overview

Regenerate your workflow by exploring the possibilities of Firemind’s intelligent reconciliation tool which translates all languages, line matches instantly and provides on-the-spot results.

Find out how Firemind provided the client with a fully automated invoice reconciliation process which increased success rates to 95% and achieved average matching times of 3 minutes per invoice.

Client: Global Telco Organisation

Industry: Telcom

Services: AI & Machine Learning

Problem

Time-consuming, unproductive and inefficient work practices burdened our clients finance team.

Firemind embarked on a proof of value project with the goal of eradicating repetitive work tasks and transforming their invoicing processing system within their business operational model.

Services

AWS

Sagemaker

Train, and deploy machine-learning models.

Textract

Extract key values and data

Lambda

Triggers document analysis

Data lake to store documents

Solution

Automating your invoice reconciliation workflow through matching document data and deploying an intelligent confidence scoring system.

We built a customisable and automated invoice processing system which overlapped our client’s existing reporting workflow relating to finance and invoices, allowing for a polished and efficient end-to-end view of all the finance information relating to services.

We have partnered with Firemind on several projects where the use of AWS has been core to the delivery of the solution. The team has always proven to be knowledgeable and adaptable, allowing us to achieve the best possible results in our projects in a timely and cost effective way.

Jas Moorley Head of VBG COE

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