NXT EDGE significantly minimizes the need for manual intervention, thereby boosting the speed and reliability of financial operations. By automating routine tasks and optimizing processes, NXT EDGE reduces human errors and accelerates transaction times.
This leads to more efficient workflows, allowing financial professionals to focus on strategic activities rather than mundane tasks. The enhanced reliability ensures that operations are consistent and dependable, fostering greater trust and satisfaction among clients and stakeholders.
Real-time Processing with Complete and Current Data
Traditional invoice processing methods often involve delays and discrepancies due to the need for data replication and synchronization across multiple systems. These outdated processes can lead to errors and inefficiencies, as businesses work with copies of data that may not reflect the most current state. NXT EDGE changes this paradigm by embedding Azure AI services within SAP, enabling real-time processing and ensuring that all decisions are based on the most current and complete data available.
Achieving Straight-through Processing (STP)
One of the most significant advantages of NXT EDGE is its ability to facilitate straight-through processing (STP) of supplier invoices. By embedding advanced AI capabilities directly into SAP, NXT EDGE allows for the autonomous parking and posting of invoices without human intervention. This transformation in the accounts payable (AP) function ensures that invoices are processed quickly, accurately, and in compliance with regulatory requirements.
Autonomous Parking and Posting
NXT EDGE leverages fine-tuned Generative AI and Pretrained Transformer (GPT) models to autonomously park and post supplier invoices. This feature ensures compliance with local VAT/GST regulations, accurate matching of payment terms, and precise tax code determination.
Comprehensive Data Validation
By embedding Azure AI services, NXT EDGE performs complex data validations directly within SAP, using complete and current data. This approach eliminates the need for data replication and ensures 100% data accuracy.
Real-time Updates
Supplier invoices, whether received electronically or as scanned images, are captured, validated, and parked in real-time. This capability ensures that SAP reports are always up-to-date without manual intervention.
High Data Privacy
NXT EDGE connects directly to Microsoft Azure AI services within the customer’s virtual private network (VPN), ensuring that all data remains within SAP. This design meets the highest data privacy and security standards.
Transforming Accounts Payable with NXT EDGE
NXT EDGE is not just an incremental improvement; it’s a revolutionary approach to the accounts payable function. By embedding Azure AI services into SAP, businesses can achieve unparalleled efficiency, accuracy, and compliance in their invoice processing workflows. This integration enables straight-through processing (STP) of supplier invoices, significantly reducing the need for manual intervention and enhancing the overall speed and reliability of financial operations.
In conclusion, NXT EDGE represents the future of ERP systems for companies using SAP. By seamlessly integrating advanced AI technology into the core SAP environment, businesses can rely on complete and current data, streamline their operations, and maintain compliance with ease. Embrace the power of NXT EDGE and transform your accounts payable processes today.
Contact to learn more about our solutions and to schedule a live demonstration.
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At NXT4SAP, we fuse GPT technology, process expertise, and decades of experience to empower global clients in making strategic decisions. Our adaptive software solutions cater to your requirements, especially in finance automation for corporates and Shared Services Centres.
The team excels in AI-driven business process automation, strategy, and innovation.
Our global experience with Fortune 500 companies, enhances our understanding of diverse requirements. While specializing in finance processes with SAP, we prioritize holistic end-to-end solutions.
Reach us at info@nxt4sap.com to redefine your global business dynamics through AI-driven solutions.
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