Ultimus AI Invoice creates a sophisticated, end-to-end invoice processing solution capable of meeting the most demanding enterprise requirements.
6-Month Payback with Machine Learning-based Invoice Workflows
Ultimus customers have been able to lower the cost of invoice processing from about $10 per invoice to around $0.14 per invoice.
New York, NY – September 28, 2021 – Ultimus, the award-winning low-code BPM technology leader, demonstrates a 6-month payback on its machine learning-based invoice processing and approval workflow solution.
Using the Ultimus Digital Process Automation Suite and pre-integrated advanced machine learning data extraction capabilities, Ultimus customers have been able to lower the cost of invoice processing from about $10 per invoice to around $0.14 per invoice. Moderate volume organizations receiving around 100,000 invoices per year have been able to offset the total cost of solution acquisition and configuration in about 6 months.
Ultimus AI Invoice, developed using the Ultimus Digital Process Automation Suite and proven AI-extraction capabilities, is configurable in hours or days to create a sophisticated, end-to-end invoice processing solution capable of meeting the most demanding enterprise requirements.
Unlike Robotic Process Automation approaches, Ultimus AI Invoice leverages the advantages and flexibility of a powerful workflow automation platform to create a fully-configurable end-to-end invoice solution – from automatic process launch as invoices are received through ERP recording and payment. And flexible, built-in reports give visibility into process bottlenecks and spend analysis.
With Ultimus’ patented rules-based workflow and pre-built business friendly configuration applications, customers can configure:
- Automated escalations to capture available discounts
- Automated invoice approval based on 3-way matching, invoice value, and/or purchase type
- Human-in-the-loop verification and approval matrices based on the dollar value, the nature of the purchase, the department, and/or other variables.
Perhaps the most valuable benefit of Ultimus AI Invoice: Our workflow platform approach allows customers to automate other business processes – one platform to learn, manage, and pay for to realize seamless process interoperability.