Automated Invoice Processing and Approval Workflow
This use case automates the end-to-end management of invoices—from receipt and data extraction to validation, approval, and payment processing. By integrating Optical Character Recognition (OCR), business rules, and workflow automation, organizations reduce manual errors, shorten processing times, and improve financial accuracy.
How It Works:
1. Invoice Receipt: Invoices are received via email, portal uploads, or EDI systems.
2. Data Extraction: OCR and data extraction tools capture key information (vendor, amount, dates).
3. Data Validation: Extracted data is automatically validated against purchase orders and contract terms.
4. Approval Routing: Invoices meeting the criteria are routed for automated or manual approval based on set thresholds.
5. Payment Processing: Approved invoices are forwarded to the payment system for settlement.
6. Audit and Archiving: An audit trail is created and data is stored for compliance and reporting.
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