How AI Helped to Automate for a Digital Library the Approval Process for Invoices

V G • Nov 15,2024

Summary:

By leveraging AI procurement automation capabilities, a company streamlined purchase order matching, eliminated data entry errors, and accelerated financial processes by 60%. 

Client: 

Scribd is a subscription-based digital library and e-book service. 

Problem Statement: 

The company, renowned for its vast library of e-books, audiobooks, magazines, and more, was experiencing rapid growth. This expansion, while positive, led to significant complexities in their approval processes for purchase orders and invoices. Manual procedures were becoming a bottleneck, causing delays, errors, and compliance concerns. To keep up with rapid scaling and expand operations worldwide, Scribd needed to find a way to implement more operational efficiencies.

 

Results: 

  • Accelerated the financial close process by 60%.
  • Improved spend management with procurement automation.
  • Streamlined PO Management.
  • Eliminated Data Entry Errors.
  • Accelerated Multi-Currency Payouts Globally.
  • Implemented Real-Time Reconciliation in NetSuite OneWorld.

AI Solution Overview:

To eliminate manual obstacles, Scribd’s finance team partnered with Tipalti to automate as many processes as possible. 

By leveraging Tipalti’s capabilities, Scribd transformed the complex approval workflows for purchase orders and invoices into fully automated procedures. This comprehensive accounts payable and procurement solution significantly enhanced their cost management and financial transparency. 

With Tipalti’s AI-driven natural language input model, employees can easily create requests. The system automatically generates a purchase request, including crafting a title, selecting the appropriate payee, setting items and prices, classifying requests, and suggesting pertinent details, even when the user’s input is incomplete.

By connecting the entire procure-to-pay cycle, Scribd gained improved spend visibility and tighter control, all within a single, integrated platform.

References: 

  1. Scribd Is Changing How the World Reads Through Digital Transformation. https://tipalti.com/resources/customer-stories/scribd/

Industry: Digital Media

Vendor: Tipalti

Client: Scribd

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