Digitizing purchase & payment processes
The organization faced effifi ciency and accuracy issues in its procurement process, which resulted in increased processing costs. They also struggled to monitor and manage various stages of purchase invoices, such as PO verififi cation and payment.
To address these challenges, Cygnet offered a purchase digitization solution that captured invoice details using AI-based OCR capabilities or Intelligent Document Processing (IDP). This eliminated discrepancies between purchases posted and invoices shared by vendors. The solution also compared the invoice content with the purchase order (PO) and goods receipt note (GRN) to ensure verification.