Successful automation begins with data

And plenty of it. Your data is filled with unique knowledge and experience. Why not use the data to make processes smarter? Enversion’s AI solutions in finance automate the invoice process flow, make purchases easier and provide you with a financial overview so resources can be used to provide the most value to you and your customers. All this regardless of where your data exists today.

SmartAccounting

Enversion® SmartAccounting automatically handles your invoices in real-time, allowing you to free up valuable time for your employees. Based on advanced machine learning models, Enversion® SmartAccounting learns from your organization’s past invoices and does not care what financial system you are using. You get:

• An exact description of what exactly you purchased, whether the invoice is to be paid and, if so, how to enter it
• Significantly increased quality of the entries themselves and thus more real VAT rebates
• One email each morning with a simple overview of how the invoices have been handled
• Full control and overview of the entire organization’s invoice processing flow.

SmartPurchasing

Enversion® SmartPurchasing is the solution for everyone who wants to utilize the latest technology and knowledge in purchasing behavior to ensure high compliance throughout the organization. You get:

• Real-time intelligent nudging that guides your entire organization directly to the agreed product in your shopping portal
• Targeted advice on the optimal procurement process, whether it concerns services or products in relation to both new and old agreements
• Central management of available e-commerce sites, eliminating undesirable behavior throughout the organization.

SmartInsight

Enversion® SmartInsight guarantees a complete overview of your organization’s financial activities from purchases to handling invoices, and everything in between. All this to let you establish future decisions on past experiences. It is almost like having eyes in the back of your head. You get:
• Unique real-time linking of invoice and posting data
• Deep and accurate insight into your costs and a strong analytical basis for your organization’s budgeting and financial  management
• Quick and accurate overview of who actually uses the municipality’s money – and on what.

Enversion® and Tricom ApS

A collaboration with Tricom ApS ensures that Enversion® SmartAccounting speaks the same language as the state’s procurement and finance systems, “IndFak2” and “Navision Stat.” This allows you to quickly and easily automate a wide range of administrative processes and utilize an obvious efficiency potential that ultimately provides more “warm” hands to the welfare areas. You get:
• Custom-made reports that provide a real-time overview of key figures in the purchase process
• Enversion’s unique AI-based UNSPSC categorization that provides a complete overview of your purchase patterns
• Close and automatic integration into catalogs and purchase agreements.

1. A SOLID DATA FOUNDATION

Data should be used to make smarter decisions and to facilitate work for the benefit of people, organizations and society in general. Everyday, a vast amount of information is gathered in both the public and private sectors. However, all this information means nothing in itself. To be beneficial, data should be used, collected, combined and analyzed if it is to advance all business areas. We collect, process, analyze and implement data so that it forms the basis for the decisions that will benefit your organization in the future. A solid data foundation provides the basis for outstanding machine learning models that accurately predict a wide range of events depending on your organization’s needs. When data already exists and constantly increases, why not use it?

2. OUTSTANDING MACHINE LEARNING MODELS

Enversion’s machine learning engine keeps you one step ahead by registering patterns in your invoice processing before they are visible to human analysis or become a problem for your organization. We can because our machine learning models predict outcomes with high accuracy. We apply the most advanced machine learning algorithms – deep neural networks. The algorithms themselves are in charge of extracting the necessary characteristics from data by learning to find patterns in certain combinations of events and in the order with which the patterns are recorded – the models improve while you sleep providing the foundation for real data-driven decisions. This contrasts with traditional computer programs, which base decisions on explicit rules – rules that are static and not necessarily a correct reflection of a reality that is constantly changing.

3. MACHINE LEARNING WITH ADDED HUMAN INTUITION

When people and machines work together, positive synergy is created. The machine complements and supports the human way of thinking. The human brain can quickly learn and understand various problems simply by reading a few lines in a dictionary and combining the new knowledge with previously acquired knowledge. Conversely, large amounts of data require the training of a machine to solve completely specific tasks. But when the machine has learned to master the task, it works with higher precision, faster than people, in a continuous manner, and it will never forget. The machine collects, sorts, and categorizes amounts of data incomprehensible to the human brain. This condensed knowledge is available to the expert who continuously verifies the model’s recommendations so that you get models tailored to your specific focus areas.

4. DETAILED ANALYTICAL INSIGHT

Data is only useful if presented in a clear and beneficial way for the decision makers. That is why we guarantee a comprehensive overview of your organization’s financial activities from purchases to the handling of invoices and everything in between. We do this so you can base future decisions on past experiences. We use machine learning to design products that link real-time invoicing and billing data, so you get deep insight into cost drivers and obtain a quick and accurate overview of who actually uses the organization’s money – and on what. Overall, a strong analytical basis for your organization’s budgeting.

5. CUSTOMIZED SOLUTIONS FOR YOUR UNIQUE NEEDS

Automation of invoices using generic rules only works optimally for basic organizations. When your organization is more sophisticated, you need a solution that is fine-tuned to your individual requirements, but you still want something that is designed to adapt effortlessly and flexibly into your existing system – you do not have to write any code at all. Our experts and computer analysts collect and process your data and develop cutting-edge machine learning models tailored to your needs. Within a few days, you have an invoice management solution that is specifically tailored to your business needs.