Company 3E Projekt extracts received invoices using artificial intelligence16. October 2019
16th October 2019, Brno – Ostrava-based company 3E Projekt with 160 employees has started using the Invoice Flow cloud service developed by Grit. The service enables the automated processing of received overhead and service invoices. Thanks to the deployment of Invoice Flow, the company has been able to eliminate two new job positions as well as dramatically increase its speed of invoice processing.
As little as one year ago, the company 3E Projekt, which is engaged in property rental as well as the running of restaurants, casinoes and franchises, used to receive part of its invoices by post. „The receptionist woud scan the invoices and upload them to the Premier information system. Our accountants would then rewrite all invoice data by hand and only after that enter the invoices into the system. The whole process was inefficient and often resulted in our employees making mistakes,“ said Šárka Macurová, Executive Director of 3E Projekt.
For this reason, the company‘s management board has decided to replace paper invoices with digital ones and to process everything automatically. „We have chosen the Invoice Flow cloud service developed by the company Grit. We have already had good experience with this supplier, as we are also using its Orion solution, which ensures EDI communication,“ said Šárka Macurová.
After deploying Invoice Flow, they have completely transformed their work system. These days, all 3E Projekt invoices are received electronically. The artificial intelligence in Invoice Flow automatically extracts data from the invoices in pdf or other formats, which means that there is no more rewriting to be done. Persons responsible approve the invoices electronically and then the accountants simply send them over to the information system.
What is more, the Invoice Flow solution has a number of additional functions. „For instance, it allows users to allocate line items to any cost centers or attach documents such as statements, delivery notes or photos. Companies can keep track of their obligations and the system takes care of monitoring due dates for them,” said Kateřina Líbalová, Product Manager of the Invoice Flow solution.
The company 3E Projekt is satisfied with Invoice Flow. „As our business grows, so does the volume of received invoices and, thanks to Invoice Flow, we did not need to fill two new job positions. In addition to that, we have eliminated human error as well as the need to store our invoices in physical form. Instead, we keep them in the digital archive of Invoice Flow,“ said Šárka Macurová.