Accomplish More, Faster with the Right Tools.
Have An Expert Contact Me
Continously Learns
Since no data extraction model guarantees 100% accuracy, the solution identifies which documents to route for human review to ensure accurate output and further train the AI model - thus improving performance as more documents are processed.
Easily Scales
The workload queue efficiently distributes invoices across multiple unattended “runner machines,” allowing the solution to scale to meet peak demand.
Seamlessly Integrates
In addition to extracting and validating information from unstructured invoices, the solution seamlessly feeds the extracted data to other systems to complete invoice processing.
Enables Actionable Insight
Since the status of each work item is tracked, the solution gives the accounts payable team the information and insights needed to manage the end-to-end process including the status of invoice registration and matching.
Manchester University NHS Foundation Trust uses Artificial Intelligence (AI) to automate invoice processing, saving 23,000+ staff hours annually.
The Challenge
When you require proof of payment before accepting delivery of medications and other procured items, late processing of invoices can directly impact patient care.
That’s why Manchester University NHS Foundation Trust (MFT) engaged BP3 to streamline its end-to-end invoice & purchase order processing.
Burdened by legacy technology and an inefficient process that required frequent human intervention to extract information from invoices, plus additional manual steps to load, validate and match documents, MFT struggled to keep pace with the sheer volume of transactions it needed to process. The result? Large backlogs, manual processing errors, late payment penalties and a range of other compliance issues
Accomplish More, Faster with the Right Tools
BP3‘s process and automation experts worked with MFT to design and deploy an entirely new process, enabled by cutting-edge Intelligent Document Processing (IDP) & Robotic Process Automation (RPA) technologies, to extract, classify, and validate information from invoices and feed that data into downstream financial systems.
Features of the solution include:
- Continual Learning: Since no data extraction model guarantees 100% accuracy, the IDP platform identifies which documents require a human review to ensure the output is accurate. The review process also trains the AI model allowing the system to improve performance as more documents are processed.
- Scalable Architecture: A workload queue efficiently distributes the invoices across multiple unattended “runner machines,” allowing the solution to easily scale to meet peak demand.
- Legacy System Integration: In addition to extracting and validating information from unstructured invoices, the solution seamlessly integrates with legacy systems to complete invoice processing including invoice registration and matching against purchase orders.
- Reporting and Insights: Since the status of each work item is tracked, the solution gives the accounts payable team insights to manage the end-to-end process including the status of invoice registration and matching.
Real World Impact
With a new automated process, enabled by advanced AI technology, MFT significantly improved the invoice processing Key Performance Indicators (KPIs) including:
- Increased Straight Through Processing Rate (touch free)
- Reduced Cycle Times
- Reduced Processing Error Rate
- Improved Compliance Rates
- Increased Peak Volume Capacity
What does that really mean? It means saving 23,00 hours of staff time annually while also reducing the risk of incorrect payments and avoiding late payment penalties.
What it really means is that MFT is better at its core mission --- serving patients!
Want to learn more? 