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BASF shortens pro\u00adces\u00adsing time for 3.5 million incoming invoices per year by 50 percent and reduces effort by 40 FTE thanks to AI. smart INVOICE excels in detailed document reading, excellent data quality, deep vali\u00adda\u00adtion, and low main\u00adten\u00adance effort.<\/strong><\/p>\n Insiders imple\u00admented the smart INVOICE solution for BASF worldwide. This has enabled the chemical company to automate the purchase-to-pay(P2P) process for accounts payable pro\u00adces\u00adsing to a much greater extent and further improve its quality. Overall, auto\u00adma\u00adtion with arti\u00adfi\u00adcial intel\u00adli\u00adgence has more than halved invoice pro\u00adces\u00adsing time and saved 40 full-time equi\u00adva\u00adlents (FTE) of effort.<\/p>\n Every year, BASF receives around 3.5 million documents with a total volume of about 10 million pages from more than 80 countries. An extensive market review led the company to Insiders Tech\u00adno\u00adlo\u00adgies\u2018 smart INVOICE solution as a cloud service. In selecting a new solution, it was essential for BASF to use state-of-the-art AI for the best possible data extra\u00adc\u00adtion and to enable rapid rollout and easy scaling with cloud services. Addi\u00adtio\u00adnally, fully automated detailed document reading and vali\u00adda\u00adtion were required for a holistic increase in the degree of auto\u00adma\u00adtion across the entire process chain.<\/p>\n \u201eOur process was already largely optimized in terms of its flow. It was obvious that to increase effi\u00adci\u00adency further, we would have to rely on new tech\u00adno\u00adlo\u00adgies from arti\u00adfi\u00adcial intel\u00adli\u00adgence to achieve more auto\u00adma\u00adtion\u201c<\/p>\n<\/blockquote>\n says Rita Lampasona-Hornung, Head of Accounts Payable EMEA at BASF. \u201eThe intel\u00adli\u00adgent cloud services from Insiders Tech\u00adno\u00adlo\u00adgies \u2013 spe\u00adci\u00adfi\u00adcally smart INVOICE for invoice pro\u00adces\u00adsing \u2013 quickly convinced us with their inno\u00adva\u00adtive concept and out\u00adstan\u00adding per\u00adfor\u00admance.\u201c<\/p>\n With year-end closing as a fixed deadline, the design, planning, imple\u00admen\u00adta\u00adtion, and global rollout of the Insiders solution had to be fully completed within just ten months. Today, around 400 employees at BASF\u2019s three service hubs worldwide are working with this solution. The document reading process has been signi\u00adfi\u00adcantly improved in terms of the scope and quality of the data, which is reflected in a high pro\u00adpor\u00adtion of fully automated read and verified documents. This level of quality has also led to a signi\u00adfi\u00adcantly improved ratio of documents with fully automatic posting in SAP. Using the smart ACT business analytics tool inte\u00adgrated into the solution, BASF can evaluate extensive usage data in various levels of detail and so are able to improve the entire process in a data-driven manner con\u00adti\u00adnuously.<\/p>\n BASF is so convinced of the per\u00adfor\u00admance of Insiders Tech\u00adno\u00adlo\u00adgies\u2018 cloud services that it is already piloting other appli\u00adca\u00adtion areas in the P2P process, such as order con\u00adfir\u00adma\u00adtion pro\u00adces\u00adsing and advanced shipping noti\u00adfi\u00adca\u00adtions.<\/p>\n Read the detailed project report now!<\/p>\n [\/et_pb_text][et_pb_button button_url=\u201c@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9hdHRhY2htZW50Iiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjEyNTAyIn19@\u201c url_new_window=\u201eon\u201c button_text=\u201eRead Story\u201c _builder_version=\u201e4.10.6\u201c _dynamic_attributes=\u201ebutton_url\u201c _module_preset=\u201edefault\u201c custom_button=\u201eon\u201c button_font=\u201eMontserrat|700|||||||\u201c global_colors_info=\u201c{}\u201c][\/et_pb_button][et_pb_divider color=\u201e#f2f2f2\u201c _builder_version=\u201e3.10.2\u201c global_colors_info=\u201c{}\u201c][\/et_pb_divider][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" BASF shortens pro\u00adces\u00adsing time for 3.5 million incoming invoices per year by 50 percent and reduces effort by 40 FTE thanks to AI. smart INVOICE excels in detailed document reading, excellent data quality, deep vali\u00adda\u00adtion, and low main\u00adten\u00adance effort. Insiders imple\u00admented the smart INVOICE solution for BASF worldwide. This has enabled the chemical company to [\u2026]<\/p>\n","protected":false},"author":20,"featured_media":12461,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","wp_typography_post_enhancements_disabled":false,"_mbp_gutenberg_autopost":false,"footnotes":""},"categories":[1,2,109],"tags":[],"class_list":["post-12457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-allgemein","category-blog-en","category-featured"],"acf":[],"_links":{"self":[{"href":"https:\/\/insiders.next-kmu.de\/en\/wp-json\/wp\/v2\/posts\/12457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insiders.next-kmu.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insiders.next-kmu.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insiders.next-kmu.de\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/insiders.next-kmu.de\/en\/wp-json\/wp\/v2\/comments?post=12457"}],"version-history":[{"count":0,"href":"https:\/\/insiders.next-kmu.de\/en\/wp-json\/wp\/v2\/posts\/12457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insiders.next-kmu.de\/en\/wp-json\/wp\/v2\/media\/12461"}],"wp:attachment":[{"href":"https:\/\/insiders.next-kmu.de\/en\/wp-json\/wp\/v2\/media?parent=12457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insiders.next-kmu.de\/en\/wp-json\/wp\/v2\/categories?post=12457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insiders.next-kmu.de\/en\/wp-json\/wp\/v2\/tags?post=12457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n