Why MountainTop Supplier Invoice Management?
Supplier Invoice Management plays a crucial role in Accounts Payable by ensuring that all incoming supplier invoices are processed and paid on time. Traditional invoice handling is often manual, paper-driven, and prone to errors such as data entry mistakes, delayed approvals, and lack of visibility. These inefficiencies create exceptions that can disrupt cash flow and prevent timely payments.
With a modern supplier invoice management solution, businesses can automate the entire process—from invoice receipt and validation to approval and posting. Automation not only reduces manual effort and processing costs but also strengthens internal controls, improves accuracy, and provides complete visibility across the Accounts Payable cycle.
KEY BENEFITS
MountainTop’s AI-powered Supplier Invoice Management automates the entire invoice processing lifecycle, from receiving to payment, significantly reducing manual effort and errors. This involves using AI technologies like OCR and NLP to extract data, validate it against purchase orders, and streamline approvals. AI-driven systems also improve fraud detection, ensure compliance, and provide real-time insights for better financial management.
Automated Data Extraction
AI can accurately extract data from various invoice formats, including PDFs and images, eliminating manual data entry.
Smart Data Validation
AI algorithms validate extracted data against existing records, such as purchase orders, and flag discrepancies, reducing errors.
Automated Approval Workflows
AI streamlines the approval process by routing invoices to the appropriate approvers based on pre-defined rules, accelerating the process.
Fraud Detection
AI can identify anomalies and potential fraud indicators in invoices, helping to prevent financial losses.
Improved Compliance
AI-powered systems ensure compliance with company policies and regulatory requirements by automatically verifying invoices against predefined rules.
Cost Reduction & Scalability
By automating tasks and reducing manual errors, AI helps to lower processing costs and improve overall efficiency. AI systems can easily scale to handle increased invoice volumes as a business grows, without straining resources.
How MountainTop Supplier Invoice Management Works?
MountainTop’s Supplier Invoice Management AI powered solution converts inbound supplier invoices into clean, usable financial data – automatically. Here’s an illustration of how the system works, from intake to integration.
1. Invoice Capture & Digitization
Invoices come in through email, vendor portals, or mail. MountainTop’s Digital Document Data Capture using Mistral LLM will capture and digitize all supplier invoice information, eliminating manual sorting and creating a digital record for each invoice.
2. Data Extraction
Once digitized, Mistral LLM will analyze the invoice and pulls out key information like vendor name, invoice number, dates, and line items—even across varied formats. This replaces manual entry and speeds up processing.
3. Validation:Existing Records
MountainTop’s AI algorithms will cross-checks invoice details with purchase orders, contracts, and vendor master data to catch discrepancies early and enforce procurement policy compliance.
4. Approval Routing & Exceptions
MountainTop’s AI algorithm will route invoices to the right approvers based on rules and learned patterns—such as dollar amounts, departments, or expense categories. If exceptions occur (like missing PO numbers or price mismatches), the system flags them for review while continuing to process compliant invoices.
5. Integration: Accounting & ERPs
After approval, the MountainTop system will transfer all validated invoice data directly into your ERP or accounting platforms. This integration eliminates duplicate data entry and keeps your financial records in sync across systems. This can be achieved by using APIs, CSV file uploads and RPA solutions.
6. Scalability and Expansion
MountainTop AI powered BPA solutions scale with your needs. You can start with basic functionality and expand as your business grows. Small businesses might focus on simple data extraction, while larger companies implement multi-level approval workflows and advanced analytics.
64%
Digital world class finance organizations deliver 64% lower transaction processing cost as a percentage of revenue. AP is prone for excessive cost and fraud. Take control.
Common challenges you face
- 45% of invoices have exceptions requiring manual intervention*
- 57% of finance professionals say the invoice and payment process takes too long*
- Less than half of organizations can measure key AP metrics*
- Manual processes cannot be managed in a work-from-home environment
*Source: Ardent Partners: The State of ePayables Report 2021
Integrate MountainTop AP Automation with your back-office
Rapidly bring together your back-office and third-party systems using API Connect. It features:
Out of the box connectors for major ERP systems means a rapid and predictable implementation. Native embedded capture means a single user interface to manage all invoices from initial input to final approval
Seamless integration with our MountainTop AP Automation