Fortunately, software powered by machine learning—a subset of artificial intelligence—is giving organizations “automated assistants” that help reduce the administrative burden, so they can focus on growth.
When it comes time to submit expenses, employees can just snap a picture of their receipts. The software assistant “reads” the picture through a machine learning-powered interface. The assistant then pre-populates the employee’s expense report with receipt information, travel information from relevant emails and even corporate credit card transactions. The expense report practically writes itself.
These software tools will continue to help Force Analytics save on travel and personnel expenses and increase the overall efficiency of the organization. Smith says the company’s travel-related expenses have remained nearly flat over the last two years, despite a 15 percent growth in its sales force.
MCS had been handling a whopping 50,000 invoices a month using an entirely manual process that required dozens of “touches” per invoice, reams of paper and rows of filing cabinets. After a painstaking selection process, MCS chose a system that uses machine learning to automatically “read” paper invoices, match invoice and purchase order information, and send approval requests to the appropriate manager.
Cutting-edge technology like AI-powered invoicing does more than just help MCS grow without increasing headcount, says Delgado It also helps MCS attract talent that appreciates working at a modernized organization.