Serina Invoice Automation Software is a cutting-edge solution designed to streamline and automate various aspects of the invoice processing cycle, particularly tailored for accounts payable (AP) teams. Here’s a detailed overview of what the product does and its key features:
What Serina Does
Serina is an advanced digital tool that leverages artificial intelligence (AI), machine learning (ML), and Optical Character Recognition (OCR) to transform traditional manual invoicing into a highly efficient, error-free, and automated process. It aims to automate every stage of invoicing, from data entry to the final steps of payment processing.
Key Features and Functionality
Automated Capture and Validation
- Serina automates the capture of invoices from various sources such as utility websites, emails, SharePoint folders, EDI, and web portals. It then validates the extracted data to ensure accuracy and compliance.
Workflow Management
- The software manages and routes invoices through automated workflows, ensuring faster processing and reducing bottlenecks. It integrates seamlessly with leading Enterprise Resource Planning (ERP) systems, saving time and manual efforts.
Matching and Approval
- Serina matches invoices with corresponding documents like purchase orders and Goods Receivable Notes, and facilitates streamlined approval processes through cloud-based approvals. This ensures that payments are made on time and reduces the likelihood of errors or double payments.
Reporting and Analytics
- The software provides robust reporting and analytics, offering near real-time insights into process bottlenecks, spending patterns, and outliers. This helps in making informed decisions and gaining a comprehensive overview of the financial landscape.
Security and Compliance
- Serina employs robust security measures to safeguard sensitive financial data, ensuring compliance with regulatory requirements. It also supports multiple currencies and languages, making it suitable for global use.
User-Friendly Interface and Integration
- The software features an intuitive interface that makes onboarding easy. It configures and integrates with existing systems, and comprehensive training sessions are provided to acquaint the team with its functionalities.
Efficiency and Productivity
- By automating manual data entry, Serina significantly reduces the time spent on manual tasks, freeing up the team to focus on more strategic initiatives. It also enhances employee morale and improves cash flow through quicker payments and automated reminders.
Vendor Management and Order Processing
- Serina simplifies order management and vendor interactions by allocating vouchers proportionately to specific cost centers and General Ledger (GL) codes based on the type of bill and entity/organization.
In summary, Serina Invoice Automation Software is a powerful tool that leverages AI and ML to automate and enhance every stage of the invoice processing cycle, offering improved efficiency, accuracy, and compliance for AP teams.