AP invoice processing is entirely manual (printing, hand-delivering, signing, coding, filing) and the most time-consuming step is determining cost centers and phases from invoice data when entering into the ERP.

Workarounds Described

• prints invoices and hand delivers for approval
• uses pen/pencil signatures on paper invoices
• manually cost accounts/codes and enters into ERP
• files paper invoices in filing cabinet
• manually collects matching paperwork from filing cabinet for payment runs

Implied Software Gaps

• Automated invoice data capture with cost center and phase allocation
• Digital approval workflow that eliminates physical routing
• ERP-integrated automated data entry that replaces manual coding

CostFlow AI

CostFlow AI automates AP invoice data extraction and cost accounting by using machine learning to parse line-item details and allocate costs to the correct cost centers and phases. It integrates with existing ERPs to replace manual data entry, routing for digital approvals, and digital archiving, cutting processing time by 80%. Designed for mid-market companies, it provides a cost-effective alternative to enterprise solutions.

Existing Solutions Mentioned