Hermes 2.0 is an AP automation solution that uses artificial intelligence (AI) to increase the efficiency of busy accounting teams, constantly dealing with high-volume vendor invoice processing.
“With Hermes 2.0, vendor invoices can be processed round-the-clock and semi-automatically,” explains Thomas John, CEO of Calpion. “It’s a suitable solution for common accounts payable issues such as high volumes, complex business rules, error-prone data entry, and multi-level invoice approval.”
The Hollywood company now uses Hermes 2.0’s AI-powered optical character recognition (OCR) feature to scan, convert, and transfer information from invoices into its existing enterprise resource planning (ERP) system with 100% accuracy. It is even leveraging the software’s ability to learn vendor-specific processes to create custom business rules for each vendor.
“Thanks to Hermes 2.0, we spend a lot less time and human resources on AP. It has reduced our operational risks and exposure to data breaches. It has also enhanced the quality of our customer service and vendor relationships while improving data accessibility and transparency,” a spokesperson from the Hollywood company said.
Hermes 2.0 has helped many other businesses reduce costs, pay invoices quicker, minimize human error, and boost productivity.
The highly scalable AI-based accounts payable solution automatically reads incoming invoices from email using AI, converts the scanned invoices into text using OCR technology, then extracts the data using straight-through processing.
This software can also verify and correct an exception list and generate error codes, upload the processed invoices automatically to the AP ERP, make the ad hoc reports with customized filters, and build logs for auditing.
Using Hermes, a company can process invoices 24/7. This can help reduce AP processing time by 10 days, enhance employee productivity by 65 percent, and save 90 percent costs with 10 percent human intervention.
Tel: (469) 242-6053
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4835 LBJ Freeway, Suite 300,
Dallas, TX 75244