A global chemical manufacturing leader was struggling with an inefficient and error-prone invoice reconciliation process. Their accounts payable team manually processed thousands of complex invoices monthly, each with intricate line items, varied rate cards for raw materials, and strict compliance requirements. This manual approach led to late payments, frequent human errors, overpayments due to rate card discrepancies, and a significant drain on skilled resources who could have been focused on more strategic financial analysis.
Template-agnostic OCR agents automatically extracted data from any invoice format with 98% accuracy, eliminating manual data entry and its associated errors without any prior training.
Lasya's AI engine automatically validated every line item against complex, pre-defined supplier rate cards and contracts, instantly flagging price, quantity, or tax discrepancies.
The system performed automated 2-way and 3-way matching between purchase orders, goods receipt notes, and invoices, resolving most matches without human intervention and isolating only the exceptions.
By implementing Lasya AI's Invoice Auditing solution, the chemical manufacturer transformed its accounts payable department from a manual, reactive cost center into a streamlined, strategic function. The newfound efficiency and accuracy not only cut costs but also improved supplier relationships and provided the finance team with real-time data for better decision-making.
