Companies are continuously searching out for revolutionary solutions to streamline operations, minimize prices, and toughen customer satisfaction. At Navia, the team is having a peep to attain this by integrating Raft’s AI platform into its invoice processing machine.
Greg Amanatidis, Director of Communications and Enablement at Navia, outlined that the process historical to involve manually coming into recordsdata. This labour-intensive methodology not handiest consumed intensive time but additionally equipped a plethora of problems.
“Sooner than implementing Raft’s AI, our operations team had to process invoices from suppliers equivalent to shipping lines, airways, transport carriers, and company companions,” Amanatidis outlined.
“With the exception of the intensive time spent, we additionally skilled recordsdata entry errors, particularly in reimbursements, leading to excess prices for Navia. Our finance team then had to reconcile these errors manually, which took even extra time.”
AI integration
Navia grew to alter into to Raft’s AI to revolutionise their Accounts Payable (AP) invoice processing. The AI handles invoices from diversified suppliers, making certain precision and effectivity in recordsdata management. This integration aimed to alleviate the repetitive and error-inclined nature of handbook recordsdata entry.
“Navia makes exhaust of Raft to process our AP invoices to suppliers—masking shipping lines, airways, transport carriers, and company companions,” Amanatidis elaborated.
The introduction of Raft’s AI platform has resulted in sizable improvements in accuracy and operational effectivity. Navia processes approximately 1,500 invoices weekly, with every requiring not less than two minutes of recordsdata entry.
“Automating our invoice processing with Raft has saved us over 3,000 minutes every week, beforehand spent on slack recordsdata entry,” Amanatidis highlighted.
“This shift has not handiest boosted our effectivity but additionally greatly diminished human error, saving us tens of thousands of bucks yearly.”
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Benefits
The monetary implications of AI integration salvage been profound for Navia. By eliminating handbook recordsdata entry and the associated errors, the company has realised sizable be aware financial savings. Amanatidis estimates these financial savings to be between US$50,000 and $100,000 yearly.
“Our operations groups are now extra ambiance pleasant, focusing extra on customer wants in location of being slowed down by repetitive responsibilities,” he well-known.
“Furthermore, our finance groups salvage reclaimed hours every week, allowing them to take trace to extra significant responsibilities as a substitute of correcting recordsdata errors.”
Navia is in the early stages of rolling out the AI to process pre-alert documents for import shipments, aiming to streamline cargo registration into their FMS.
“This could per chance possibly put our groups from yet any other layer of time-ingesting recordsdata entry,” Amanatidis added.
“Subsequent pause…. compiling entry lines in opposition to industrial invoices.”
