Built natively on the ServiceNow Platform, Aavenir Invoiceflow enables enterprises to process vendor invoices across various invoice formats efficiently and buying categories. Aavenir Invoiceflow captures invoices, automatically extracts invoice information using the most advanced ML engine, automates invoice verification using a 2-way or 3-way match, and finally facilitates processing using workflows and business rules.

Aavenir Invoiceflow offers smart invoice data extraction, N-way matching, and invoice approval capabilities to reduce human intervention by up to 90%.

Built For :

Accounts Payable & Finance Team
Procurement & Sourcing Team
Vendor Management Team

Expected Benefits – Invoiceflow:

Accelerate invoice processing by up to 71%
Lower invoice processing costs by up to 80%
Ensure timely payments and maximize savings from early payment discounts
Achieve audit compliance across invoices, PO’s, GRN’s, and contracts
Reduce spend leakage due to duplicate invoices, fraud, and manual errors before cash leaves the organization
Provides end to end visibility into invoice and payment status across all stakeholders and vendors

Why Use Invoiceflow on ServiceNow?

Aavenir Invoiceflow is built on ServiceNow to improve cash flow by accelerating the speed and accuracy of multi-vendor invoices processing while reducing human intervention.
Aavenir’s Invoiceflow solution leverages ServiceNow’s enterprise-class platform for efficient digital workflow, eliminates the need for manual checks, and reduces AP cycle times by validating and bringing thousands of invoices from procurement systems, emails, scanned PDFs, and even printed letters on one platform.
Aavenir’s advanced AI engine is trained to handle different invoice formats payment terms, and extract vital information such as invoice dates and numbers, PO dates and amounts at the header and line item level.

Key Features

Aavenir Invoiceflow solution is available as a unique SaaS solution, offering complete capabilities along with ease of use, administration, and deployment to ensure on-time accurate payments for well-negotiated costs.

Smart Invoice Data Reader: Identifies, categorizes, ingests data required for account payable workflow from any invoice formats (PDF, EDI, XML, paper, etc.) covering PO and non-PO invoices captured via scanner, e-invoice, or mobile app.
Configurable Invoice Processing Engine: Detects various parts of invoice through regular expression, machine learning extraction models, and unique parsing strategies, in other words extracting structured field-level invoice data elements from image or document.
Split Invoice: Automatic or manual splitting of a PDF document with multiple invoices into separate records for each invoice.
N-way match: Automatically match a combination of the invoice, purchase orders, goods/services receipt, quality check, vendor contract, etc. using configurable tolerance levels.
Invoice Approval Workflows: Eliminate manual validations and inefficient follow-up calls or long emails. Execute on-time payments on ServiceNow powered flexible workflow platform with rules-driven conditional approvals, complete audit logs, and alerts.
Analytics and Reporting: Pre-built analytics reports and insightful dashboards to help you monitor KPI-based vendor performance, identify process bottlenecks, take proactive actions and set KPIs for continuous improvement.
Integrate Payment Data to existing CRM and ERP: Collect and share invoice data to multiple endpoints, including existing accounting and procurement systems built with SAP, EMC, and any other CRM or ERP solutions using the ServiceNow Integration framework.
Vendor Portal / Collaboration Portal: An efficient platform provided to buyers and suppliers to manage, interact, and have more visibility. Built with a purpose to enable onboarding of suppliers, raising an RFP, creating a contract or PO, and sharing an invoice. This platform allows businesses to connect and collaborate to process business transactions more efficiently.
Invoice Audit: Provide visibility to the AP Admin around invoice details with real-time matching and comparing of Price, Clause, and Terms mentioned in the Invoice and the Contract. A real-time auditing tool allows the AP team to manage the invoice by considering the exceptional score of the invoice.