AI-based invoice processing at BASF
Insiders Technologies, a software provider for intelligent process automation, has introduced the smart Invoice solution for the chemical group BASF worldwide. This has enabled the chemicals group to automate the purchase-to-pay process for invoice processing to a much greater extent and further improve its quality. Through automation with artificial intelligence, BASF could reduce the processing time of 3.5 million incoming invoices per year by 50 percent. And thus save the effort to the tune of 40 full-time equivalents (FTE).