Finance Process Automation & Accuracy Enhancement
2 Sep 2025
To combat inefficiencies in invoice processing, Neo Tangent deployed AI technology for a beauty and cosmetics company. By automating the accounts payable process, the company achieved a 99.99% accuracy rate, reduced manual effort by 18%, and significantly improved processing speed and efficiency.
Results at a Glance
Customer Background
A company specializing in the beauty and cosmetics industry, focusing on the EU and US markets, with a sales turnover of $700M+.
Challenges
01. Inefficient Invoice Processing
High levels of manual intervention in invoice capturing, matching, and voucher creation led to delays and supply chain disruptions.
02. Re-work on GR Matching
40% of invoices were received before goods were receipted, requiring multiple matching attempts and leading to inefficiencies.
03. Inadequate Technology
Outdated systems hindered automation and increased the risk of errors in payment processing.
Solution
Neo Tangent deployed AI technology to automate the capture of invoice data and the three-way matching process, reducing manual workload and improving accuracy. Coordination with the IT team ensured smooth integration of AI into the existing systems.
Impact
99.99% Accuracy Rate
Significantly reduced errors in the accounts payable process.
18% FTE Savings
Enhanced productivity by reducing the manual effort required, leading to cost savings.
Improved Efficiency
Enhanced the GR re-matching cycle from weekly to daily, ensuring faster processing and fewer disruptions.