AI-Driven Accounts Payable Automation for Automotives
Accounts payable automation tailored to meet the unique needs of automotive industry
Accounts Payable Challenges Unique to Automotive Industry
High Invoice Processing Cycle Time
The large volume of invoices requires significant time to review, validate and process
Complex Invoice Approval Process
Complex approval/hierarchies involving multiple stakeholders
Duplicate Payments and Fraud Detection
Working with multiple vendors are prone to duplicate payments due to processing errors
Vendor Communication
Hundreds of productive hours lost in replying to supplier queries
Processing Non-PO Invoices
40- 70% of invoices are Non-PO due to indirect spends/service invoices resulting maverick spending
Explore Zycus AP Automation Solution
AI-led Accounts Payable Automation for Automotive Enterprises
Faster Invoice Extraction and Matching
- Achieve high STP with accurate data extraction of invoice headers and line items using Merlin AI
Processing
Non-PO Invoices
- Streamline Non-PO invoice processing with Merlin Al's automated cost allocation prediction for line items, reducing coding time and effort
Faster
Invoice Approvals
- Instantly route invoices to the appropriate personnel for easy review and approval
Fraud Prevention
- Utilize automated anomaly detection technology to identify and prevent fraudulent payments by flagging vendors
Vendor Communication
- Zycus AP Smart Desk uses NLP and ML algorithms to identify email types, extract relevant data, and automate invoicing email processing
Automotive Enterprises Trust Zycus
Zycus helped a leading automobile manufacturing giant streamline their AP processes
95.24%
Invoice Extraction Accuracy
Less than 5 days
Invoice Processing Time
100%
Three-way Match
Our Marquee Clientele
Why Leading Enterprises Love Zycus!
North American health insurer achieves 98% accuracy in invoice data extraction with Zycus
Leading business solutions provider drives procurement efficiency with Zycus’ AI-powered solutions
Global automobile manufacturer transforms invoice processing with Zycus Merlin AI suite
Resources
Navigate through and come out stronger from a recession with AI-powered AP automation
Assess your e-invoicing maturity against peers and plan for effective change management
