AI posting proposal complements the Heeros Purchase Invoices solution

In the second quarter of 2022, we will add a new functionality to the Heeros Purchase Invoices solution, which will enable a posting proposal formed by artificial intelligence to be retrieved side by side with the supplier's default posting.

The course of the accounting proposal process

When an invoice arrives to the solution it gets matched with a supplier. If the supplier has default posting enabled, it is added to the invoice and the invoice is ready for validation. If the supplier does not have default posting enabled, the invoice will be retrieved a posting proposal predicted by artificial intelligence. The prediction is based on the historical data and generated by our partner Snowfox.AI's artificial intelligence model.

Supplier default posting

Heeros Purchase Invoices utilizes the supplier default posting feature of the approval workflow solution, or integrated external system (Exact Online). This is enough to cover many invoices that are always booked to the same account and accounting objects. It is defined in the settings that a posting line for invoice total sum is created in the invoice import, based on the default values stored in the supplier register details. Once the supplier has been successfully matched to the invoice the invoice handler can declare the posting already as complete or make the necessary changes to the posting.

Posting proposal by artificial intelligence

When the new functionality is taken to use teaching data from the processed purchase invoices from a few months will be entered into the artificial intelligence model. When an invoice then arrives in Heeros Purchase Invoices, the AI interprets the invoice information and provides a prediction of the posting based on the generated posting history. The i Invoice handler only needs to review the posting prediction and complete possible cost allocation. If there is a mistake in the posting proposal, the correction information is sent back to the AI to learn and improve on the supplier's next incoming forecast. Only forecasts of sufficient confidence level are added to the invoice as proposal.

New customer’s posting history

A new customer does not have historically data, based on which the artificial intelligence model could learn at once. Thus, the learning happens as invoices get processed. The AI proposals begin to form to invoices when the model has achieved a sufficient confidence level. This usually happens after about 10 processed supplier’s invoices.

One differing entry does not distract the artificial intelligence

Since the question is about learning artificial intelligence, time is our friend. By time and increasing number of data the AI can form ever more accurate predictions. One differing posting does not alone distract the artificial intelligence, as it is based on the stunning logic of machine learning. Artificial intelligence is made to serve people in almost every field, and it is already used in many everyday things - possibly without you even considering it. Artificial intelligence has also entered the financial management and accounting, and we are proud to be able to offer its beneficial purchase invoice posting automation to help you save time and costs.