Aavenir Upgrades Invoiceflow Vendor Invoice Process Automation for Improved Accuracy, Traceability, and User Experience

DALLAS, March 02, 2022-(BUSINESS WIRE)-Aavenir, a next-generation AI-based Source-to-Pay solutions provider, has announced the latest version of Invoiceflow that makes invoice processing more inclusive for a wide range of needs.

Invoiceflow offers an AI-enabled automated invoice extraction, classification, and digitization of the Accounts Payable process. Invoiceflow’s proprietary machine learning algorithm has been trained over time to handle a wide variety of invoice formats across vendors and purchase categories. The solution matches invoices against POs, receipts, contracts, and vendor details before routing them through the dynamic approval workflow on ServiceNow’s Now Platform®.

Release Highlights

Extended scope of the Invoiceflow AI engine to offer industry-leading data retrieval accuracy, retrieval of discounts, retrieval of multiple invoices from a single document, and simplified invoice field mapping.

Extended 2/3-way matching of invoice data to identify duplicate or inaccurate invoices, allowing multiple partial invoices that match the PO.

Connecting experience using seamless integration with ServiceNow applications such as vendor management, PPM, ITBM, and systems such as SAP, Salesforce.

Improved user experience with multilingual support, multiple call-to-action, drag-and-drop invoice attachments, customizable list view, etc.

Improved flexibility of workflows with dynamic delegation of approval authority to expedite approvals. Approvers can view relevant PO/vendor details, audit history, duplicate status, and approve/reject invoice (s) directly from the invoice/email list.

AP performance monitoring using role-based dashboards to view invoice status (s), generate metric reports, and prioritize workload. New usage reports help measure the productivity of AP staff and identify bottlenecks.

“Aavenir integrates customers into its product development, therefore all solutions are designed for customers and customers. The new version of Invoiceflow processes most invoices without intervention, eliminating 80% up to 90% of manual effort and offers up to 99.5% accuracy. ” said Jesal Mehta, CEO Aavenir. “Invoiceflow integrations provide a single version of reality for project management, finance, and procurement teams in applications,” he added.

Learn how businesses optimize invoice processes: https://aavenir.com/case-studies/

Visit the Invoiceflow website for more information and download the product brief to learn more about automation and integration capabilities.

About Aavenir Aavenir delivers the ‘future of work’ to optimize vendor sourcing, commercial relationships, and spending management. Aavenir’s AI-enabled Source-to-Pay solution portfolio, built on the ServiceNow platform, includes applications for Vendor Onboarding, RFP Management, Contract Lifecycle & Obligation Management, Accounts Payable Automation. www.aavenir.com

Check out the source version at businesswire.com: https://www.businesswire.com/news/home/20220208005661/en/


Nupur Patel | Marketing and Communications, Aavenir [email protected]

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