In today's rapidly evolving business landscape, internal finance functions of organizations are facing challenges like never before. These functions feature as one of the key focus items and solution for most ERP implementations across different industries and geographies. Most of these processes suffer with legacy challenges resulting in process inefficiencies and several quality related challenges.

Gen AI led automation can potentially help resolve several of these challenges including manual interventions, higher error rates, limited scalability, compliance risks, decreased visibility, and higher costs.

Based on Sonata’s assessment, Gen AI led automation in financial processes can lead to significant productivity and performance improvements irrespective of the ERP platform and address several other issues related to quality and errors caused by manual interventions.

Our solution focuses on the entire finance functions’ portfolio available within any ERP platform.. For this offering, we will showcase a detailed view of how our solution transforms Invoice processing as part of Accounts payable and Vendor Onboarding processes.

Invoice Processing Standardization

Key challenges

Multiple sources for invoices and manual effort spent toward invoice scrolling in ERP
Mismatched and non-standardized invoices
Error prone payment processing workflows
Missing invoice reports and extensive efforts spent towards vendor reconciliation
Lack of detailed analysis and insights

Proposed solution

Automated invoice extraction and invoice standardization
Gen AI powered BOT for invoice data comparison with PO and Order receipts
Gen AI automated payment approval workflows
Power BI and Gen AI powered reports and analytics

Observed benefits

Cost optimization for invoice processing (Up to 25% improvement)

Processing errors reduction (Up to 15% improvement)

Quality improvement in finance data

Improved vendor consolidation

Enhanced employee satisfaction

Vendor onboarding

Key challenges

Error prone process thus requiring several manual interventions for corrections

Time consuming requiring up to several weeks for onboarding a new client / vendor/ partner/ employee

Proposed solution

Automation for repetitive tasks including vendor details updates, email follow ups, vendor record creation in ERP etc

Gen AI driven vendor documents’ verification for correction and completeness

Observed benefits

Streamlined vendor onboarding with visibility to all stake holders
Vendor onboarding time reduced to less than half a day
Improved vendor satisfaction
Improved employee experience

Our solution is designed and built to generate responses and insights using Azure OpenAI large language model, while automating specific Dynamics 365 finance processes hosted on the Azure.

Sonata Advantages: –

Our Approach: Sonata understands that its clients are at different stages of maturity and Gen AI adoption and has built Gen AI services portfolio in line with each of these different phases thereby helping its clients to adopt Gen AI seamlessly and accelerate progress to the next stage smoothly.
Industry leading Frameworks and Tools – Sonata has built an industry leading Responsible first Gen AI asset called Harmoni.AI which forms the underlying platform for enabling several of our Gen AI solutions and offerings.

Robust consulting services: Sonata provides a comprehensive consulting framework to assess and envision Gen AI adoption for all our clients and help them transform their businesses. Outcome Based Pricing - Defined on KPIs and results for our accountability in Automation success. At Sonata, we specialize in driving transformative changes through Gen AI led automation solutions. Our offering is designed to modernize your internal finance processes, enabling you to achieve unprecedented efficiency, accuracy, and cost savings.

At Sonata, we specialize in driving transformative changes through advanced Automation solutions. Our offering is designed to revolutionize your Finance Functions, enabling you to achieve unprecedented efficiency, accuracy, and cost savings.

Explore - Gen AI+ Automation Led Finance Transformation at https://www.sonata-software.com/platformation-services/finance-processes-automation Our team of experts are ready to assist you | Let’s Connect at info(at)sonata-software.com to get started today | Sonata Software Ltd. |

Financial Services

Приложения резултата за Финансови услуги