AI Case Study 6: Automatic Account Assignment

We are excited to present our Pratham Software AI Case Study 6: Automatic Account Assignment!

About: The client provides a platform for optimizing and monetizing the processing of paper and electronic invoices. Their solution automates the entire invoice-to-pay process, simplifying each step from receipt through reconciliation.

Business Need: Currently, users manually enter General Ledger (GL) accounts based on item descriptions in invoices. This method is inefficient, prone to errors, and lacks consistency, which delays financial reporting, introduces inaccuracies in financial records, and increases operational costs.

Solution: Pratham Software GmbH developed a solution that automates the assignment of GL accounts based on item descriptions. The goal of this solution is to improve the accuracy and efficiency of financial data while ensuring that GL accounts are accurately classified and assigned to relevant items.

Software Tools:

In order to accomplish the project we used the following software tools:

• Machine Learning (LLM)
• Feedback loops
• NLP (Natural Language Processing)
• EC2
• Fast API
• Python
• React JS
• S3
• SQL Server

Results:

• Improved system efficiency and consistency
• Enhanced financial data accuracy
• Increased productivity

Interested to learn more from Pratham Software’s exciting AI case studies?

Having studied our Pratham Software AI Case Study 6: Automatic Account Assignment, please also check our other case Studies!

• Case Study No. 1 Automatic Sampling of BIM Description
• Case Study No. 2 Loan Default Early Warning
• Case Study No. 3 Centralized Chatbot with Azure open AI
• Case Study No. 4 Train Rolling Inspection & Alerting by AI
• Case Study No. 5 Automatic Invoice Processing by AI

At Pratham Software GmbH, we specialize in creating AI-driven solutions that tackle industry-specific challenges, automate processes, and boost profitability. This is just another example of how our AI expertise can transform your back-office operations and make your business more efficient.

Stay tuned for more innovative case studies as we continue to demonstrate how AI can be harnessed to bring tangible business value. Interested in transforming your financial operations with AI? 💡 Contact us today to explore how Pratham Software GmbH can help streamline your business processes.