Streamlining Invoice Processing in Pharmaceutical Logistics
Document Separation and Classification
Solution
The project had a deadline of 1 week to configure and deploy a solution to achieve the following:
- process 500 thousand invoices a year
- separate and classify all invoices with 100% accuracy without human involvement
A leading player in pharmaceutical logistics faced significant obstacles in their accounts payable (AP) workflow. Handling over 200,000 invoices annually, they relied on a manual process to reconcile received goods at the warehouse against billed amounts and separate, classify, and review documents to ensure compliance and accuracy.
This labor-intensive process required substantial human resources, leading to errors, delays, and inefficiencies. The client sought a cloud-based solution capable of:
- Automating separation and classification of invoice documents.
- Achieving high accuracy to reduce human review.
- Filtering out unwanted supporting documents and routing data to the appropriate AP functions.
A tailored cloud-based automation solution was implemented to address the client’s needs. To ensure rapid deployment within the one-week timeframe, the implementation leveraged pre-configured AI models fine-tuned to handle pharmaceutical logistics invoices. Key features included:
Advanced Document Classification: Using machine learning, the system classified invoices, supporting documents, and other related materials with 100% accuracy.
Automated Data Extraction and Validation: Relevant data was extracted and filtered to ensure only necessary information reached the AP team.
Workflow Integration: Seamless routing of processed documents to appropriate functions in the AP department, ensuring efficiency and scalability.
Impact
The new system delivered transformative results for the client:
Operational Efficiency
Invoice separation and classification, which previously required significant labor, now need only 2.5 hours of validation per week. This enables faster processing and payment cycles and reduces bottlenecks in the supply chain.
Cost Savings
There was a significant reduction in labor costs associated with manual reconciliation and document review. Improved accuracy minimized costly errors in invoice payments.
Scalability and Compliance
The cloud-based architecture ensures the system is scalable and capable of handling the growing volume of invoices. High accuracy and automated filtering ensure adherence to pharmaceutical industry compliance standards.
Separation
Classification
