Invoices flood in from every direction, arriving as PDFs, images, spreadsheets, and text files. Sorting through each one, validating data, and reconciling accounts can feel endless, leaving AP teams tied up in manual work that could be automated.
Rethinking Invoice Processing
For AP teams, managing high volumes of invoices from countless vendors is about more than just data entry. It’s about maintaining accuracy, hitting payment deadlines, and supporting vendor relationships. Traditional solutions, such as OCR and RPA, often fall short, achieving a pass-through rate of only 40-60%. While they automate some aspects of invoice processing, these tools frequently encounter issues like errors or mismatched data, necessitating extensive human review to resolve exceptions. This results in increased costs, slower processing times, and a continual backlog–effectively mitigating any benefit from automation.
Klarity’s AI-powered platform changes this by delivering a significantly higher Pass-Through Rate of 92%+ and allowing AP teams to process invoices faster and more accurately, enabling fully touchless invoice processing.
Key Benefits of Klarity’s Invoice Processing Solution
Klarity doesn’t just simplify invoice processing; it provides measurable improvements to AP workflows:
- High Pass-Through Rate: Klarity’s automation achieves a Pass-Through Rate of 92%+, meaning most invoices are processed without manual review. This drastically reduces AP workload, cutting down on time spent on repetitive tasks by up to 70%.
- Cost Efficiency: Klarity automates high-volume invoice processing, lowering operational costs without the communication gaps and quality issues that often come with offshoring. AP departments can handle growing invoice volumes without increasing headcount, making for a leaner, more efficient operation.
- Improved Data Accuracy and Consistency: Reduce errors and manual corrections with clean, validated data, enabling accurate payments and smoother audits.