Our Journey to Intelligent Automation: The Three Stages of AI Implementation
We didn’t integrate AI into all areas of our software overnight. Our approach has been a gradual process, guided by complexity and immediate customer value. This journey can be divided into three phases.
Stage 1: Specific Solutions for Immediate Efficiency Gains
We began with targeted, small-scale applications designed to eliminate recurring and error-prone manual tasks. The focus here was on intelligent data capture.
Use Cases:
- Automated Document Reading: Invoices, purchase orders, and delivery slips arrive in various formats and qualities. Our AI-powered OCR (Optical Character Recognition) automatically and reliably extracts all relevant data—such as supplier, invoice number, amounts, and individual line items. This works even with multi-language documents or poor scan quality.
- AI-Powered Search: Instead of digging through folders and archives, you can simply search in finway for a supplier, a product name, or an invoice number.
These specific solutions create a solid foundation by improving data quality and drastically reducing manual data entry.
Stage 2: Automated Workflows for Seamless Processes
Once the data is digital and structured, entire process chains can be automated. In this phase, we used AI to optimize collaboration between teams, departments, and locations.
Use Case:
- Intelligent Approval Processes: Instead of manually forwarding invoices to the right person, our system uses criteria like cost center, department, or supplier to identify who is responsible for approval and automatically initiates the workflow.
By automating these workflows, processes not only become faster but also more transparent and less prone to errors.
Stage 3: Complex Applications for Strategic Insights
In the most advanced stage, AI goes beyond simple process automation. It becomes an intelligent assistant that recognizes patterns, highlights risks, and provides well-founded forecasts.
Use Cases:
- Pattern Recognition (e.g., 3-Way Matching): The AI matches purchase orders, delivery slips, and invoices at the line-item level (3-way match). It immediately detects discrepancies in quantities or prices and flags the corresponding documents for review.
- Analysis and Forecasting: By analyzing all financial data, the AI can create precise forecasts for cash flow and liquidity. It provides you with a real-time outlook on your budget status, supporting you in strategic financial planning.
These complex applications transform your finance department from a reactive administrative unit into a proactive, strategic partner for the business.
