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AI Prediction Service

This section is dedicated to ExFlow's AI service, which predicts invoice line items and their corresponding codes. Invoice processing can be tedious and intricate, often leading to a lack of user understanding. An excess of alerts can increase workplace stress. Implementing AI-assisted automated invoice coding has the potential to significantly mitigate these challenges.

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The AI Prediction Service showcased in the image highlights ExFlow's innovative approach to simplifying the intricate task of coding invoices. This service utilizes machine learning to predict the correct line items, associated codes, and account allocations, thereby reducing the cognitive load on users and improving overall efficiency in processing invoices. The intuitive user interface provides predictions with varying levels of confidence, allowing users to apply the most probable codes quickly. The AI's continuous learning from historical data ensures that predictions become more accurate over time. By enabling features such as auto-approval thresholds, the system empowers users to streamline routine tasks while maintaining control over critical decision points.

With the potential to greatly reduce human error and the time spent on repetitive tasks, the AI Prediction Service stands as a valuable tool for financial departments. As the service evolves, features like confidence-based auto-approval will further reduce the need for manual intervention, allowing teams to focus on more strategic activities.

Overview​

The solution is comprised of the following key components:

  1. FO Integration: The FO system is responsible for providing the AI with historical invoice data, enabling accurate predictions. These predictions are typically generated during the invoice import process.
  2. AI Engine: Hosted on Azure as a cloud service, the AI engine is continuously trained on approved invoices, allowing it to generate predictions for active invoices in real-time.
  3. ExFlow Web Interface: Users interact with the AI-powered predictions directly through the ExFlow Web interface, streamlining their workflow with intelligent assistance.

Prediction Capabilities:​

  1. Comprehensive Line Predictions: The AI predicts critical details such as the number of line items, their corresponding amounts, and the appropriate coding (e.g., Account, Cost Center).

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  1. Smart Field Selection: The web UI integrates with the AI to recommend which fields should be filled in, helping users complete invoices efficiently and with fewer errors.

  2. Automated Code Lookups: The AI predicts the most likely values for various coding columns (such as account or dimension), assisting users in making more informed decisions for complex transactions.

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  3. Confidence of Approval: A feature under development, this will estimate the system's confidence level that an invoice is ready for approval, offering users a clear metric to guide their decisions.

  4. Auto-Approval Mode: Another feature in progress, this mode will allow users to automatically approve invoices from specific vendors once the AI's confidence surpasses a predefined threshold, further reducing manual processing time.

Here's a section tailored for existing customers, highlighting the use of historical invoice data during training:

For Existing Customers​

ExFlow’s AI Prediction Service leverages your historical invoice data to deliver more accurate and relevant predictions. By training on your approved invoices, the AI becomes increasingly adept at understanding your unique coding patterns, account allocations, and cost centers. This personalized training ensures that as the system processes more data, the predictions become even more aligned with your organization’s specific practices.

The AI seamlessly integrates into your existing workflows, using the wealth of historical data you’ve already generated to improve coding accuracy and reduce the need for manual input. This ongoing learning process ensures that ExFlow continues to optimize your invoice processing efficiency, adapting over time to meet the evolving needs of your business.

For New Customers​

As a new customer of ExFlow’s AI Prediction Service, you have a unique opportunity to establish a strong connection between the input lines of your invoices and the final approved output lines. This connection is essential, as it directly impacts the accuracy and quality of the AI's predictions. The more closely aligned your initial input lines are with the output lines, the better the system will be at predicting accurate codes, amounts, and allocations in the future.

To maximize prediction accuracy from the start, we recommend an approach where all input lines are fully coded. The AI will then perform a consolidation step, merging lines that have identical coding. This process reduces the total number of lines while preserving a strong connection between the original input and the final approved output. This ensures that even with fewer lines, the AI can maintain high precision in its predictions.

Please note that some of these advanced features, such as the consolidation step, are still under development. However, by starting with a robust coding process, your business will be well-positioned to benefit from the full capabilities of the AI Prediction Service as these features continue to evolve.