This technology-oriented provider of regulated mortgage and insurance products needed to bring new products to the market at speed and at low cost.
The challenge was to scale its back-office accounts payable operations so that, among other challenges, new products based on new suppliers could be processed quickly and accurately.
For example, supplier invoices from solicitors who provide conveyancing services needed to be processed or the associated revenues would not materialise.
Cleaning the master record data was also part of this project.
The invoices were linked to the correct contracts in the finance system.
The client opted to deploy Kanbina AP, based on ease of deployment, compelling cost-to-value metrics, and the scalability of Kanbina’s SaaS, multi-tenanted Accounting AI platform.
The platform is adjusted for the customers workflow and data processing requirements by an API management toolset, standard and customised machine learning, and natural language processing. Kanbina is provisioned on Azure Cloud Services.
The client also required that complex Purchase Orders could be processed, such as splitting POs into smaller parts, and correctly recording them in the underlying financial system. This was accommodated with a combination of business logic and customised machine learning decisions on the AI platform.
Impact of Solution
Kanbina successfully provisioned an automated end to end Accounts Payables service for the client that resulted in processing with speed, accuracy, and minimal delays at low unit costs.
The client was able to keep pace with the introduction of new financial products that generated many invoices from new suppliers.
The client now wished to explore how the Kanbina AI platform and Machine Learning Process Automation (MLPA) can be extended to compliance and risk processes that also need to scale with