P2P Blog series: Enterprises automate their P2P process with Intelligent Document Processing (IDP) – Delivery notes
In this blog series, we focus on Procure to Pay (P2P) documents that enterprises process in the P2P process. Next-generation Intelligent Document Processing (IDP) enables the automated processing of the most common P2P documents and the delivery of structured data, allowing enterprises to significantly increase the efficiency of their accounts payable processes.
After an order is placed, the goods are received by the enterprise – together with the delivery note. An employee must now compare this with the purchase order and check whether the data match. If this is done manually in enterprises, it not only leads to increased error proneness, it also slows down the entire P2P process unnecessarily.
Unnecessarily, because Intelligent Document Processing (IDP) is offering a powerful solution for automation. This frees employees in enterprises from manually matching the delivery note with the purchase order and only informs them specifically in the event of discrepancies. Thanks to powerful AI technologies, IDP enables the automated capture and matching of the delivery note with the purchase order.
In the fourth part of the P2P blog series, we discussed automated processing of order confirmations in enterprises
Delivery note as a crucial document in the P2P process
The delivery note gives enterprises an accurate overview of whether the correct goods from the original order are included in the delivery or whether too little or too much has been delivered. To ensure that the delivered goods match the purchase order, the data on the delivery note must be matched against it.
In many enterprises, reconciliation is done manually because there are no automation solutions that can cope with the numerous different document types in the P2P process. As a result, this process step involves considerable effort for employees on one hand, and on the other hand, the risk of overlooking discrepancies is high.
Automate delivery notes with Intelligent Document Processing
By contrast, automation through Intelligent Document Processing (IDP) reduces manual intervention to an absolute minimum. If there are discrepancies between the data on the delivery note and the actual purchase order, a notification automatically pops up in the system and informs the responsible employee. In this way, errors can be identified in a targeted manner and suppliers can be informed.
With IDP, in addition to the important header data on the delivery note, such as delivery number and order number, all line item data can also be extracted automatically. Especially the quantity of the delivered items and the unit is of course essential for enterprises. As can be seen in the photo of the Parashift IDP platform, this includes the following line item data, which IDP automatically extracts from the delivery notes:
Line item data: Delivery date, title and description, article number, customer article number, quantity, unit, etc.
Each individual item data is read out from the delivery notes with IDP in structured form and can be automatically matched with the purchase order. With offers and invoices already automated and available in structured form, enterprises can thus automate their P2P process end-to-end.
Customize P2P document types within minutes
To give large enterprises full flexibility, P2P documents can be easily customized to meet their own needs. By deleting or adding fields, they can be customized. With the user-friendly, no-code IDP platform, large enterprises can also create their own document types in no time at all.
Missed part 1 of the P2P blog series? You can read the article about purchase orders here.