Task: Pre-Auditing Tool
The Challenge
Auditing is a tedious, time-consuming nightmare as industries require every document to comply with contractual terms. This means dedicating auditors for the weekly, monthly and quarterly reviews, which means leaving a room for human error and operational cost.
Manual auditing of each invoice could take 10-15 minutes. So, hundreds and thousands of invoices would multiply at that time. It drains the time and energy simultaneously.
The Solution
Online Dimensions developed an AI-based solution that completely changes the invoice handling for businesses:
Here’s what we bring to the table:
- Along with the requisite invoices, the user uploads contracts.
- After scanning and comparing the two documents, the system immediately points out any discrepancies.
- It highlights accurate entries as well as overcharges and undercharges.
- In addition to listing each line item, the final report also provides a summary of any overpayments.
The AI examines up to ten invoices in less than 30 seconds, whereas a skilled auditor would have needed more than two hours to do it manually.
But the thirst wasn’t quenched yet,
Designed to adapt to countries’ contractual laws, making it a feasible solution for any user in any country. Additionally, our AI-based solution generated these results:
- Cost saving on manpower
- Accurate auditing
- Adaptation to various legal frameworks
- Instant invoice validation
