Hermes
Accounts Payable Automation
Easy AI-Powered accounts payable automation for busy accounting teams.
Does your organization face these issues in accounts payable?
Say hello to Hermes accounts payable automation
Easily process your vendor invoices 24/7 using AI
Hermes uses AI based OCR to extract data from invoices and Robotic Process Automation(RPA) to validate business specific rules and automatically send your invoices to your financial system, to transform your accounts payable department from cost center to profit center.
- Reduce costs
- Decrease human error
- Pay invoices quicker
- Increase productivity
- Highly scalable
How the A/P department can benefit from Hermes accounts payable automation
Automated invoice detection
Invoice is recieved via email or SFTP and the bot detects and picks up file. Invoices received from email and other configured sources serve as inputs. The employee scans the paper and handwritten invoices and uploads them to the system for conversion to a machine-readable format.
AI driven data pickup
AI Picks Up data from the file and matches with custom business rules required data. The system stores the information in a database, and the bot classifies and extracts the required data. The bot processes the information and sends the errors or exceptions for review by an authorized employee
Integration with ERP
Once approvals and in place structured data is sent back to the ERP for payment processing. Processed invoices go to A/P ERP for payment processing. The bot stores the processed invoices in a file for on-demand report printing.
Accelerate, automate, and simplify your A/P process
Our accounts payable and expense management software can be deployed to work all day, every day, no sick days or holidays.
Hermes streamlines operations and reduces processing time from 8minutes to 0.83 minutes, resulting in a whopping 90% savings
Hermes takes less than 20 seconds to process an invoice. This boosts productivity by 65% while improving employee morale.
Digital invoices from vendors are read from emails or an SFTP Invoice scan be uploaded using the intuitive user interface and then extracted into a machine-readable format using optical character recognition (OCR) technology
Hermes is 100% accurate in processing invoices. All entries are checked against a master file, and any exceptions are flagged for manual processing by users you authorize. The system generates reports live.
Artificial intelligence and machine learning are combined to build and automate custom business rules. The system uses automatic straight-through processing (STP; no manual intervention is required).
All processed invoices are stored in a file and can be retrieved by authorized users based on the roles and the business units they belong to for on-demand printing or report generation for the senior management.
Hermes lets employees can focus on exceptions, MI analysis, deep dive, and other high-value work that will increase the profitability of the organization instead of repetitive and time-consuming tasks.
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