Release date: 02.01.2024

TABLE OF CONTENTS

• Rapid Coding for AP
• Payables Enhancements 
  • Credit note
  • Future date invoices 
• Receivables Enhancements
  • Automated task creation 
  • Tasks visibility 
• Cash forecasting and planning Enhancements 
  • Flexible period selection 

Rapid Coding for AP

Part 1: Generative AI invoice capture

Upgraded our invoice capture to harness the power of generative AI through a large language model. Expect better data accuracy overall and improved support for discount, shipping, and surcharge amounts.

Part 2: AI based invoice coding automation

When an invoice is captured in Centime, we will use AI to predict the header, expense, and item coding based on similar, prior examples from that supplier. As customers process new invoices, and apply coding manually, Centime will learn, recognizing similar examples, and apply the same coding automatically. To identify prior invoices to draw coding from, we consider both the header and line level data (ex. supplier, line description) as well as additional contextual information (ex. Ship to address, account number, ordered by contact) to provide the flexibility needed to apply coding such as location, customer, and class.

Part 3: A dedicated coding interface for Rapid coding

A new tab has been added to the document viewer, which provides users with full visibility into line-item detail, coupled with powerful features like bulk edits, document pop-out, and keyboard navigation allowing users to quickly complete coding for complex invoices.

The above changes complement the previous enhancements made in the invoice processing interface and deliver a holistic product experience that enables AP users to rapidly review, process, code, approve and post AP invoices.

Payables Enhancements 

Credit note

• Select a specific credit note: AP agents can select the specific credit(s) to apply against an invoice payment. Details of the exact credit(s) applied are also included in the remittance statement to ensure that the Supplier can accurately post on their side.

Future date invoices 

• Allow AP users to select an invoice date in the future: Enables AP agents to post to a future month.

Receivables Enhancements

Automated task creation 

• Automated Task creation: AR agents have the ability to include tasks in their workflows. These tasks will automatically be created when an unpaid invoice surpasses a defined number of days from its due date. 

Tasks visibility 

• Manage Tasks within AR: AR agents can view and manage tasks directly from the Customers & Invoices tabs of the AR module. This way, AR agents can view their invoices and quickly prioritize their queue based on open tasks.

Cash forecasting and planning Enhancements 

Flexible period selection 

• Introduced a flexible period selection feature within the Cash Flow Forecast application to cater to diverse user needs