In today’s fast-paced business environment, efficiency and accuracy in financial operations are essential for organisations. DAC Systems, which positions itself as a leader in integrated business solutions, finds that the advanced AI-driven Accounts Payable (AP) Automation feature of Microsoft Dynamics 365 Finance redefines invoice management. AP Automation streamlines workflows, enhances data accuracy and drives significant improvements in business efficiency.
The AP Automation solution employs artificial intelligence (AI) and optical character recognition (OCR) technologies. These facilitate the automation of the entire invoice processing life cycle, from data capture to workflow integration.
Key features include:
- AI-powered data extraction: Automated and accurate extraction of invoice data, reducing the need for manual entry.
- Advanced OCR technology: Provides rapid, precise recognition of invoice details, ensuring efficient processing.
- Seamless integration: Designed for easy incorporation into existing financial systems, minimising transition challenges.
- Unified experience: Ensures consistent data usage and streamlined finance operations across the business.
“Automating AP processes with Dynamics 365 Finance allows businesses to reduce errors and save time, which can then be redirected towards strategic initiatives. This solution leverages AI and advanced OCR technology to ensure that financial operations are not only efficient but also highly accurate and compliant," says Gary Regan, Chief Operating Officer at DAC Systems.
The AP Automation solution delivers transformative benefits across various industry sectors. Automating invoice handling and approval processes significantly reduces the risk of human error, ensuring that data is consistently accurate and compliant with regulatory requirements.
Notable benefits:
- Error reduction: Studies show up to a 70% reduction in invoice processing errors.
- Increased efficiency: Companies can achieve a 50% boost in invoice processing efficiency.
- Improved compliance: Organisations see a 20% reduction in compliance-related costs.
- Enhanced cashflow management: Real-time insights into financial data lead to better cashflow visibility and management.
According to a Gartner report, companies adopting AP automation solutions can experience a 30% increase in productivity. Additionally, research from the Aberdeen Group indicates that best-in-class companies achieve an almost four times faster invoice processing rate compared to their peers.
By utilising AP Automation within Dynamics 365 Finance, businesses not only streamline their financial workflows but also enable teams to focus on high-impact tasks and make informed decisions. This holistic approach to financial automation drives substantial business growth and operational excellence.
“Businesses can achieve significant improvements in productivity and cashflow management through this automation solution. It equips teams to concentrate on strategic initiatives, ultimately propelling business growth,” says Regan.
As companies navigate the complexities of modern financial operations, AP Automation stands out as a robust solution that ensures efficiency, accuracy and compliance. By adopting AI and OCR technologies as part of its capabilities, DAC Systems is at the forefront of using advanced technologies that transform invoice management and driving business success.
For more information about the DAC Systems AP Automation solution, please click here.
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DAC Systems
DAC Systems specialises in using technology to the benefit of our customers to optimise their operations. We focus on the IT capabilities and management systems our customers need to help them run their businesses such that they can plan, collaborate, forecast, report and make timely decisions while executing and optimising their day-to-day core business functions.
We specialise in the Microsoft ecosystem, including the Dynamics 365 business management suite, the Microsoft 365 productivity suite as well as the services and scaling capabilities provided by Azure. Our people are current with the latest Microsoft certifications and specialisations enabling us to perform various roles for our Customers including advisory, solutioning and/or support.
We have a strong 29-year track record in the manufacturing, distribution, services, and project-based industries as well as the public sector. A key focus area that we have recently added is the renewable energy sector. We remain at the forefront of the latest industry trends and innovations enabling our customers to benefit from a wealth of experience across these key industry sectors and organisations of variable sizes.
Our headquarters are based in South Africa, and we are currently servicing customers in Africa, the US, the UK, Australia, Europe, and the Middle East.