Collab on artificial intelligence with Snowfox.AI
OpusCapita and Snowfox.AI collaborate for AI-boosted invoice automation
Snowfox.AI and OpusCapita join their forces on the quest to provide the best possible solution for automating invoice processing for both PO and non-PO invoices.
Although invoice automation and artificial intelligence have been talked about in the industry for years, OpusCapita and Snowfox.AI see that many businesses still handle a majority of their invoices manually. There may be some automation in place, but its use is often limited to 10-20% of the received invoices, and the quality of the invoice data received from suppliers is often below preferred.
”We are very happy to work with OpusCapita and help our common customers reach exceptionally high automation levels,” says Tuomas Haapsaari, Chief Growth Officer at Snowfox.AI.
The collaboration benefits AP teams on two layers:
- First, OpusCapita Invoice Process Automation allows a significant increase in the invoice automation level, allowing automatically processing up to 85% of the received invoices. The Invoice Receiving service feeds the maximum (more than 95% of e-invoices) electronic data into the purchase invoice processing system. Invoices with a purchase order or contract can be automatically matched, and the versatile rule-based automation allows expanding the automation to cover most of the recurring invoices.
- Second, integrating the solution with the Snowfox.AI artificial intelligence allows tackling especially the invoices without a purchase order. This brings a remarkable ability to handle invoices that can’t be processed based on the automation rules, using data such as the supplier or approver, and gradually improving it further with machine learning.
Automation level up to 95%
Together, the two integrated solutions will significantly reduce the need for manual invoice processing, PO matching, and postings. Already now, the shared customers of OpusCapita and Snowfox.AI can raise their automation level up to 95%, or even higher. The collaboration seeks to bring these benefits to more and more businesses in an easily approachable way, and find more and more ways to constantly improve the service for our shared customers and their finance and AP professionals even further.
“It’s great to get to work with Snowfox,” says OpusCapita Sales Director Heikki Pulli.
“Through the partnership, we are able to take our customers’ purchase invoice automation to the next level in the Nordics and Europe. This future-proof AP automation package frees up financial management time for core tasks such as forecasting, cash flow management, projecting profit, and future planning,” Pulli summarizes.
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