Dematerialization and automation of supplier invoice management
In order to comply with the 2020 finance law, which calls for the end of paper invoices as of 2023, this independent bookstore on the island of Reunion was looking for a workflow solution to manage and digitalize its supplier invoices.
The client's challenges and objectives
Our client is an independent bookstore located on the Reunion Island. It wanted to dematerialize the management of its supplier invoices and automate this process with the implementation of a workflow solution.
Their needs were multiple:
To process in an automated way the export of recognized invoices and to reconcile them with an existing order to the management software package
To rely on a learning solution to manage different suppliers without the need for IT intervention
Have a configurable workflow for the business to manage the approval and payment cycle of supplier invoices
Provide suppliers with a dedicated space to deposit and track invoices
It has chosen the Novy POM solution designed and published by Novelis and offering an automated integration with the management software. Novy POM (Purchase & Order Management) is a business solution, offered in SaaS or On Premise mode, allowing the intelligent automatic processing of supplier invoices and customer purchase orders.
Interfaced with the IS, Novy POM relies on Artificial Intelligence and OCR (Optical Character Recognition) to automatically process invoices and orders from end to end. The solution allows organizations to save valuable time and secure these key processes, which can be a source of costly errors if handled manually.
Novy POM’s OCR module is based on the ABBYY FlexiCapture for Invoices – SDK partner solution.
Novelis' added value
Our software solution for intelligent processing of invoices and purchase orders: Novy POM
Our Novy POM solution makes invoice and order automation accessible to all organizations regardless of their size. Our customers benefit from significant gains in terms of :
Time: By automatically processing your invoices and orders, you speed up your management processes and Novy POM gives back value to your time by replacing human resources in heavy and time-consuming manual processes.
Financial: With Novy POM, you reduce the cost of manual processing of your invoices and orders and directly impact your cash flow with accelerated processing. You also reduce the risk of late payment and the associated penalties.
Human: Novy POM relieves your teams from repetitive and unrewarding manual processing so that they can focus on tasks that generate business for the company. You increase their quality of life at work.
Administrative: A manual data entry error leads to a lot of exchanges and administrative manipulations that ultimately generate a cost for the company. With an unequalled extraction quality, Novy POM guarantees the quality of the data extracted and imported into your IS.
Logistics: By automating the processing of orders, you can better manage your stocks and raw materials with visibility and alerts in real time. The result is cost optimization and customer satisfaction through on-time delivery!
Security: Novy POM offers a totally secure interface for your data processing with an On Premise or PaaS formula. The management of duplicates or errors protects you from any risk of fraud.