{"id":7957,"date":"2019-07-12T10:47:40","date_gmt":"2019-07-12T10:47:40","guid":{"rendered":"https:\/\/aespanishprd.wpengine.com\/?p=7957"},"modified":"2020-08-12T13:58:40","modified_gmt":"2020-08-12T13:58:40","slug":"leverage-rpa-ai-to-automate-media-invoice-processing","status":"publish","type":"post","link":"https:\/\/automationedge.com\/es\/blogs\/leverage-rpa-ai-to-automate-media-invoice-processing\/","title":{"rendered":"Leverage RPA &#038; AI to Automate Media Invoice Processing"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;margin-bottom: 0px;margin-top: 0px;border-width: 0px 0px 0px 0px;border-color:#eae9e9;border-style:solid;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"margin-top:0px;margin-bottom:20px;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;margin-top:-40px;margin-bottom:-40px;width:100%;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-sharing-box fusion-sharing-box-1 boxed-icons\" style=\"background-color:#f6f6f6;margin-top:60px;\" data-title=\"Leverage RPA &amp; AI to Automate Media Invoice Processing\" data-description=\"To stay ahead of the competitor, companies need to invest a lot in branding and promotion. To market 100s of brands and products to the customers, companies use various marketing channels like TV, newspaper, social media, events, etc.\" data-link=\"https:\/\/aespanishprd.wpengine.com\/leverage-rpa-ai-to-automate-media-invoice-processing\/\"><h4 class=\"tagline\" style=\"color:#333333;\">Share This Story, Choose Your Platform!<\/h4><div class=\"fusion-social-networks sharingbox-shortcode-icon-wrapper sharingbox-shortcode-icon-wrapper-1 boxed-icons\"><span><a href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Faespanishprd.wpengine.com%2Fleverage-rpa-ai-to-automate-media-invoice-processing%2F&amp;t=Leverage%20RPA%20%26amp%3B%20AI%20to%20Automate%20Media%20Invoice%20Processing\" target=\"_blank\" title=\"Facebook\" aria-label=\"Facebook\" data-placement=\"top\" data-toggle=\"tooltip\" data-title=\"Facebook\"><i class=\"fusion-social-network-icon fusion-tooltip fusion-facebook fusion-icon-facebook\" style=\"color:#ffffff;background-color:#3b5998;border-color:#3b5998;border-radius:4px;\" aria-hidden=\"true\"><\/i><\/a><\/span><span><a href=\"https:\/\/twitter.com\/share?text=Leverage%20RPA%20%26%20AI%20to%20Automate%20Media%20Invoice%20Processing&amp;url=https%3A%2F%2Faespanishprd.wpengine.com%2Fleverage-rpa-ai-to-automate-media-invoice-processing%2F\" target=\"_blank\" rel=\"noopener noreferrer\" title=\"Twitter\" aria-label=\"Twitter\" data-placement=\"top\" data-toggle=\"tooltip\" data-title=\"Twitter\"><i class=\"fusion-social-network-icon fusion-tooltip fusion-twitter fusion-icon-twitter\" style=\"color:#ffffff;background-color:#55acee;border-color:#55acee;border-radius:4px;\" aria-hidden=\"true\"><\/i><\/a><\/span><span><a href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&amp;url=https%3A%2F%2Faespanishprd.wpengine.com%2Fleverage-rpa-ai-to-automate-media-invoice-processing%2F&amp;title=Leverage%20RPA%20%26amp%3B%20AI%20to%20Automate%20Media%20Invoice%20Processing&amp;summary=To%20stay%20ahead%20of%20the%20competitor%2C%20companies%20need%20to%20invest%20a%20lot%20in%20branding%20and%20promotion.%20To%20market%20100s%20of%20brands%20and%20products%20to%20the%20customers%2C%20companies%20use%20various%20marketing%20channels%20like%20TV%2C%20newspaper%2C%20social%20media%2C%20events%2C%20etc.\" target=\"_blank\" rel=\"noopener noreferrer\" title=\"LinkedIn\" aria-label=\"LinkedIn\" data-placement=\"top\" data-toggle=\"tooltip\" data-title=\"LinkedIn\"><i class=\"fusion-social-network-icon fusion-tooltip fusion-linkedin fusion-icon-linkedin\" style=\"color:#ffffff;background-color:#0077b5;border-color:#0077b5;border-radius:4px;\" aria-hidden=\"true\"><\/i><\/a><\/span><\/div><\/div><style type=\"text\/css\">.fusion-sharing-box-1 h4{margin-bottom:0 !important;}.fusion-sharing-box-1{flex-direction:row !important;}@media only screen and (max-width:1024px){.fusion-sharing-box-1 h4{margin-right:0.5em !important;margin-bottom:0 !important;}.sharingbox-shortcode-icon-wrapper-1{width:auto !important;justify-content:flex-end !important;}.fusion-sharing-box-1{align-items:center !important;} }@media only screen and (max-width:640px){.fusion-sharing-box-1{flex-direction:row !important;align-items:center !important;}.fusion-sharing-box-1 h4{margin-right:0.5em !important;margin-bottom:0 !important;}.sharingbox-shortcode-icon-wrapper-1{width:auto !important;justify-content:space-between !important;} }<\/style><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;margin-top:10px;margin-bottom:10px;width:100%;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-text fusion-text-1\" style=\"transform:translate3d(0,0,0);\"><p><span class=\"blogbody\">To stay ahead of the competitor, companies need to invest a lot in branding and promotion. To market 100s of brands and products to the customers, companies use various marketing channels like TV, newspaper, social media, events, etc. <\/span><\/p>\n<p><span class=\"blogbody\">Just for the TV Commercials, the company\u2019s media services team communicates with multiple agencies, channels and third party solutions that validate the actual air time against the one estimated. <\/span><\/p>\n<p><span class=\"blogbody\">Media services team manages this process manually to validate the final estimate approved by Media Manager with invoices from media agencies, tax invoices from channels and report from third party air time monitoring tool. Air time monitoring tools are used to track the actual air time of the TV Commercial.<\/span><\/p>\n<\/div><div class=\"fusion-video fusion-youtube fusion-aligncenter\" style=\"max-width:600px;max-height:360px; width:100%\" data-autoplay=\"1\"><div class=\"video-shortcode\"><iframe title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/uqMZPTRcv4M?wmode=transparent&autoplay=0\" width=\"600\" height=\"360\" allowfullscreen allow=\"autoplay; fullscreen\"><\/iframe><\/div><\/div><div class=\"fusion-text fusion-text-2\" style=\"transform:translate3d(0,0,0);\"><p><span class=\"blogbody\">Generally, in a global company, media services team has to process 10,000+ invoices from 100,000 TV Commercial spots. This process requires approximately 400+ man-hours to process. This manual process is tedious, prone to errors and results in delayed payments. This makes the media invoice processing a perfect candidate for automation using robotic process automation tool.<\/span><\/p>\n<p><span class=\"blogbody\"><a href=\"https:\/\/aespanishprd.wpengine.com\/robotic-process-automation\/\"><span style=\"color: #7acaec;\">Robotic Process Automation (RPA)<\/span><\/a> is the process of automating business operations with the help of software robots to reduce human intervention.<\/span><\/p>\n<p><span class=\"blogbody\">After automating the media invoice processing using RPA tool like AutomationEdge, the first step is to convert paper invoices into a digital format like excel or pdf using Optical Character Recognition (OCR) technology. Using OCR technology, AutomationEdge will read the data from the scanned copy of the paper based invoice and convert it into digital format.<br \/>\n<strong>[Also Read: <u><a href=\"https:\/\/aespanishprd.wpengine.com\/excel-automation\/\"><span style=\"color: #e96d1f;\">Fastest Excel Processing RPA Tool<\/span><\/a><\/u>]<\/strong><\/span><\/p>\n<p><span class=\"blogbody\">The bot will then compare 10,000+ invoices from media agencies and actual air time report with business rules like Spot Time, Spot Rate per 10 seconds, Spot Cost, Time Leniency, total Free Commercial Time (FCT) &amp; Net Amount. <\/span><\/p>\n<p><span class=\"blogbody\">The bot will create a report from this comparison in the excel format and if there is any discrepancy, bot will share it with a respective team member for review in a different sheet. If a team member accepts the discrepancy, bot will move accepted records in the excel report. <\/span><\/p>\n<p><span class=\"blogbody\">Now, the bot will compare this excel report with media estimates from agencies and creates a report with 2 sheets, called match and mismatch. These 2 sheets will be sent to the media manager for review. Media manager will either accept or reject the mismatch record. The accepted records will be moved to match sheet and rejected records will be kept in the mismatch sheet. This mismatch sheet will then be handled by the team manually. Match sheet is shared further for the payment approval.<\/span><\/p>\n<p><span class=\"blogbody\">With the inclusion of RPA, companies can eliminate errors in the process of reconciliation and validation and the automated process will reduce the processing time of 10,000+ invoice documents upto 99%.<br \/>\n<strong>[Also Read: <u><a href=\"https:\/\/aespanishprd.wpengine.com\/10-best-use-cases-to-automate-using-rpa-in-2019\/\"><span style=\"color: #e96d1f;\">10 Best Use Cases to Automate using RPA in 2019<\/span><\/a><\/u>]<\/strong><\/span><\/p>\n<h3><strong><span class=\"blogbody\" style=\"color: #4c4a4a; font-size: 20px;\"><b>Benefits of Automating Media Invoice Processing<\/b> <\/span><\/strong><\/h3>\n<ul>\n<li><span class=\"blogbody\"><b>Automated Matching Rules-<\/b> Automated invoice processing uses 2 or 3 way matching rules to ensure the billed media products align with orders and receipts.<\/span><\/li>\n<li><span class=\"blogbody\"><b>Approval anytime from anywhere &#8211;<\/b> With invoice automation, users can approve directly from their mobile devices. They can approve from their email without login required. Automated invoicing notification reduces manual follow ups.<\/span><\/li>\n<li><span class=\"blogbody\"><b>Adjustable tolerances &#8211;<\/b> Automated invoicing processing set the invoicing feature, which controls what process requires an automatic match and what requires manual review with tolerance settings. This automatic invoicing feature can be set globally or at the commodity level by the business team <\/span><\/li>\n<li><span class=\"blogbody\"><b>Exception routing and review &#8211;<\/b> Based on tolerance and routing rules, in invoice processing automation, non-matching invoices are flagged and routed for review and resolution.<\/span><\/li>\n<li><span class=\"blogbody\"><b>Early payment discounts &#8211;<\/b> Early payment discounts opportunities can be notified to prioritize and process the payments with invoice processing automation.<\/span><\/li>\n<li><span class=\"blogbody\"><b>Quick payment and billing without reminders &#8211;<\/b> With invoice automation, matching invoices get paid and billed to the respective expense accounts without reminders <\/span><\/li>\n<li><span class=\"blogbody\"><b>Central invoice processing &#8211;<\/b> Eliminate the cost, risk and delay of shipping goods with central processing facilities<\/span><\/li>\n<\/ul>\n<p><span class=\"blogbody\">Automation of Media Invoice Processing in any industry can benefit in on-time payment of agencies and channels, accuracy to eliminate invoice discrepancy. Thus this automating process accelerates the invoice processing, and gain financial control and visibility.<\/span><br \/>\n<span class=\"blogbody\"><b>AutomationEdge is the fastest RPA platform to process data. Want to learn more about automating invoice processing,<a href=\"https:\/\/aespanishprd.wpengine.com\/it-robotic-process-automation-demo\/\"><span style=\"color: #7acaec;\"> request a demo<\/span><\/a>.<\/b><\/span><\/p>\n<\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":49,"featured_media":7961,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,8],"tags":[59,100,120,104,116,118,108,57,119,117],"class_list":["post-7957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence","category-rpa","tag-ai","tag-automation","tag-events","tag-invoice-processing","tag-media","tag-newspaper","tag-ocr","tag-rpa","tag-social-media","tag-tv"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - 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