I didn’t know the Back-office could be so exciting! — Adrian Guttridge, CEO of Blockchain Warehouse
So much time is spent in the back-office on reconciliation….in the procurement world this is typically reconciliation of invoices.
But how does your company ensure that the invoice, insurance claim, or any other request for payment is directed to the correct person to verify and authorise, ensuring it is legitimate, ensuring the value is correct, the tax treatment and any deductions are correct.
If there was an original letter of authority or purchase order — do they match?
The idea of automating previously manual processes is clearly an attractive one. Keep in mind though, it is vital that the business leader has a true sense of the long-term operational vision before any decision can be made.
Using AI technology, aXpire’s Resolvr will apply machine learning to incoming invoices verifying that they are legitimate and routing them to the correct person. This will reduce the number of human touch points, speed up reconciliation of invoices, and payment to suppliers.
All of this ultimately leads to customer success, and with procurement available from MatchBX’s P2P platform, or Resolvr’s B2B RFP platform, businesses can run at the speed of blockchain.
How exciting is that?