Project Overview
Efficient and accurate financial processes are crucial in the fast-paced food industry. ASSIST Software offers a powerful solution for capturing and automatically extracting data from documents such as invoices and delivery orders, streamlining the process and enhancing productivity.
In this case study, we explore how a leading food service provider leveraged ASSIST to automate their invoice approval workflow, ensuring accuracy, reducing manual effort, and boosting overall efficiency, and integrating with their Mysoft ERP system.
Customer's Challenge
In the competitive food manufacturing industry, our customer struggled with:
- High-volume operations: Company receive thousands of documents/invoices/bills from raw material suppliers to customers and it’s all processed by humans to be classified and entered data to the Mysoft ERP system.
- Manual Processes: Time-consuming manual invoice data entter and approval workflows.
- Error-Prone Data Entry: Human errors in data entry and validation.
- Lack of Automation: No streamlined process.
- Security Concerns: Ensuring data security/tracking
Implemented Solution
To address these challenges, we implemented ASSIST Software, which provided the following key features:
AI-Based Data Extraction
- Automated Data Capture: Extracts text from invoices and delivery orders, ensuring accuracy.
- Data & Documents Classification: Classifies data into fields like Invoice Number, Date, and Amount. Categorises documents into another category in case ASSIST receives other document type besides Invoice.
Customizable Workflow
- Tailored Approval: Customizable workflows with approver and backup emails.
- Automated Routing: Routes approval requests to designated approvers.
- Customised ASSIST Software to be aligned with Mysoft ERP system and be able to interact with this system
Integration with Accounting System and ERP System
- Seamless Integration: Syncs with the customer’s Mysoft ERP system for consistent data.
- Real-Time Updates: Provides real-time invoice status updates.
Security and Trackability
Secure Handling: Ensures data security and compliance. Able to track all invoices to avoid company loss.
A Quick Guide
A Quick Guide
The implementation of ASSIST Software resulted in significant improvements:
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Time Reduction
The automated process reduced the time spent on invoice approval by 70%.
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Cost Savings
The customer achieved a 50% reduction in costs associated with manual data entry and processing errors.
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Improved Accuracy
The accuracy of invoice data improved by 90%, virtually eliminating errors due to manual entry.
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Faster Approvals
The approval process was expedited, reducing the approval time from an average of 10 days to just 3 days.
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Enhanced Productivity
Overall productivity increased, allowing staff to focus on more strategic tasks rather than administrative work.
Customer Testimonial
Implementing ASSIST in our invoice approval workflow has been a game-changer. The automated process not only saves us time but also ensures accuracy, allowing us to focus more on our core business operations
Ready to streamline your invoice approval process?
Contact us today to learn how ASSIST Software can transform your operations!
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