Automation of Payment Posting Process for a Payee Services Provider in the US
Reduction in manual effort
Reduction in process TAT
- Payment posting
- Bank reconciliation
- Seamless automation of data retrieval, document sorting, and information extraction, as well as review and approval, for payment posting in the Exact GPS system. The automation handles multiple complex validations.
Automating Payment Posting
The team processed approximately 100 to 150 bill documents daily through manual classification, validation, and payment processing. The manual nature of the process posed a high risk of human errors. The Nividous platform enabled seamless document classification, data extraction, system integration, bill amount validation, and payment posting. An automated email comprising a summary of successful payments is also sent to the team, enhancing transparency and operational efficiency.
The Nividous Intelligent Automation platform has streamlined our operations by seamlessly automating document retrieval, sorting, data validation and payment processing, allowing our team to handle tasks with unprecedented accuracy and efficiency. This AI-enabled automation has not just reduced our processing time by 67% but also slashed human effort by 83%. It's a game-changer that has truly transformed our operational landscape.
A Payee Services Provider