Situation
Our client, a globally renowned damage recovery contractor, manages an extensive volume of invoices critical to their projects. However, in the current setup, employees spend a significant amount of time handling invoices manually. Each time changes are made to an invoice the employees need to notify customers and seek reapproval. Additionally, the invoices are updated in two different systems. This leads to multiple backflows, extended handling times and an elevated risk of errors. This operational inefficiency prompted a quest for a solution to streamline their invoice-handling process.
Approach
With the primary goal of enhancing response times and reducing errors in the invoicing process, Valcon developed a real-time AI solution with Microsoft Fabric. The AI solution serves as an assistant that swiftly assesses the quality of invoices and offers prompt and accurate recommendations for changes within seconds. In addition to speeding up the invoice workflow, this eliminates the need for additional approvals, significantly reducing the risk of errors.
Valcon is the first company in Europe to implement a real-time AI Solution using a Data Foundation in the newly released Microsoft Fabric. Functioning as a centralised data warehouse, Microsoft Fabric allows us to collect components that were previously scattered across multiple solutions.
Results
The Valcon approach and Microsoft Fabric solution have enabled the client to:
- Improve cash flow and margin: the AI solution has successfully sped up the client’s invoice process by offering swift and accurate recommendations, which has in turn improved the company’s cash flow and financial operations. This has also had an impact on the firm’s profit margins.
- Global adoption: successfully implemented in the Danish department, there is now an international initiative for widespread adoption.
- Smoother operating processes for the financial team: what was once a protracted three-week process has been seamlessly transformed into a matter of seconds. This streamlining of processes has resulted in much improved operational efficiency.
