AUTOMATED INVOICE RECONCILIATION PLATFORM
Nordic Service
General info
Client
Nordic Service offers a platform that identifies and classifies tax documents (primarily invoices) and reconciles them as part of the accounting process. This supports actions like management accounts and codes as well as other financial decisions.
Project
DLabs.AI designed and developed a platform that automates the process of invoice reconciliation.
The tool removed the manual effort involved in classifying invoices, helping the accounting department better track costs.
About the project
Problem
Nordic Services had to classify over 20,000 invoices manually, primarily to help with accounting and decision-making.
Solution
Automatic invoice classification streamlined a repetitive business process, enhancing output by using advanced machine learning algorithms.
Results
The tool auto-classified over 83% of all invoices, significantly reducing the manual overhead of a time-consuming task.
Project duration
5 months
Before & after
Before
After
Technologies used
The path to success
Step 1: Remove manual labor
The client had to process 80,000 invoices, of which over 23,000 were done manually
The new tool means 83% of invoices are processed automatically
This frees resources to focus on value-adding accounting tasks
Step 2: Simplify the process
The new setup has put power back in the hands of the decision-makers, simplifying a time-consuming business process through automation
Step 3: Leverage the new system
In combining machine learning techniques with accounting expertise, we’ve developed a unique system that enables optimal results
See it in action
Schedule a call with a Dlabs.AI expert and see what we can do for you.
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