Automation & AI
Save Time and Money
Automate minor tasks, leading to faster cycle times, fewer touches, and a lower cost per invoice.
Improve Productivity
Decrease labor-intensive manual processes resulting in more streamlined operations and increased productivity.
Reduce Errors
Reduce human errors by taking over small tasks that can easily be done incorrectly to ensure more accurate results.
Automation and AI in the Back Office, Visualized
Functionality
Expiration Tracking
Automatically send reminder notifications as your vendor gets close to the expiration date instead of manually ensuring your vendors maintain compliance.
Onboarding Workflows
Automate gathering contact and banking information, payment terms, and setting up a vendor profile. Set standards to automatically verify legitimacy and ensure compliance.
PCard and Out of Pocket
Automatically perform receipt audits against submitted charges to ensure compliance with company audit requirements.
PO Invoice Processing
Systematically compare invoice data against POs and Receivers to automatically identify discrepancies and route for exception handling either internally or externally based on the nature of the issue.
Disputes
Systematically facilitate collaboration with your vendors to resolve disputes quickly. AI can facilitate Dispute triage and help automate resolution based on historic trends and backup documentation.
Reporting and Search
AI-enabled searching allows for more complex queries to answer critical questions quickly. In addition, reports, search results, and usage patterns can be automatically delivered to the user via email.
Non-PO Processing
AI-driven GL coding followed by automated approval routing helps improve invoice cycle times and enforces GL coding standardization.
Why ICG for Automation & AI?
Standard Benefits
Reduced Cycle Times
Process cycle times can be significantly reduced through automations and notification escalations, helping your team know which transactions or exceptions to focus on.
Standardization
AI and Automation help enforce standardization by leaning on historical trends to guide the process on current items. Users no longer need to go searching through “cheat sheets” or perform queries on last transactions to make sure processing is consistent over time.
Process Tracking, Analytics, and Reporting
All actions, validations, and events are recorded and available for reporting and analytics as well as to indicate trends of current versus historic transactions.
Take Over Repetitive Back-Office Processes
Data entry, invoice approvals, report generation, and other repetitive tasks can be completely automated in many cases. With manual repetitive tasks off their plate, your team can focus on activities that add more value to the company such as interacting with vendors and/or internal constituents on disputes and discrepancy resolution, identifing cash flow management opportunities, payment method optimiziation opportunities, and more.
ICG really understands our business and processes. Their team established a level of automation for us far beyond our original goals. Between that and their ongoing support, we were able to achieve ongoing savings after the initial implementation and even as our business model changed over the years.
Relevant Blog Posts
Workflow & Process Automation
Workflow and process automation are an ongoing part of the business landscape in most organizations. Companies are continuously looking for ways to improve internal and external processes to accomplish many goals: Increased customer service Smooth out supply chains...
Automating Vendor Management
Benefits of Automation Vendor management covers many areas regarding how companies identify, onboard, and transact with vendors and suppliers who supply goods and services to their organization in exchange for payment. The processes involved in managing these...
Cash Optimization
Finance and treasury departments are arming themselves with tools and processes to help monitor, conserve, and maximize cash returns in uncertain times. Accounts payable can also play a prominent role in the cash optimization process. After all, accounts...
See ICG’s solutions in action
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