Financial Services Technology Use Case


Client:  

Oracle NetSuite                                                                                                                                                                                                                                                                                                      

 

Problem: 

All businesses are different across industries but the one thing that every business has in common is the fact that they all receive invoices from vendors that must be processed and paid. NetSuite is the #1 Cloud ERP system that includes an AP/AR solution. Currently, invoices must be processed manually which we know is not an efficient use of a business’s time and resources and it can introduce clerical errors into the system. Poor data costs businesses 20-35% of their operating revenue annually. There are several optical character recognition (OCR) tools in the Oracle NetSuite ecosystem that try to automate certain pieces of the AP/AR workflow, but all fall short and cannot work on dynamic invoices that change the look, feel, and design over time.

Tackle Ai’s Solution:

Our sales channel partner with 20+ exclusive years of NetSuite experience stated it best by saying, “Upon seeing the Tackle Invoices demo live, we realized that we could offer up a full end-to-end invoice automation solution… a tool that is not currently available in the Oracle NetSuite world.” Starting from the customer’s email inbox, to downloading, separating and extracting of invoice data, to generating the bill record within NetSuite. TackleInvoices will fully automate the entire AP workflow process in Oracle NetSuite.

Results:

Cost-per-invoice has an industry median of $7.75 but can go as high as $30 per invoice. Not only will tackle Invoices be much faster and more accurate (99+%) but it will also bring this cost to below $2 per invoice, saving companies valuable time and resources.