Automating Supply Chain Documentation with AI-powered Document Management Software

Are your invoices going astray? Do you have to spend hours manually uploading data from PDFs and physical documents? Then waste time fixing fat finger errors? For supply chain workers, this is not uncommon. 

For many professionals, keeping track of all the paperwork can feel like a constant battle, wasting time and risking costly mistakes.

Imagine if you could eliminate confusion, reduce manual labor, and practically eliminate errors.

AI-powered document organization software could change things.

AI may transform how supply chain workers manage critical documents, making them more efficient and accurate and improving your business’s strategic position.

The bottlenecks: Why manual supply chain documentation fails

In 2021, over half of supply chain experts considered disruptions and shortages highly or very difficult. The poll identified demand-side issues, including faster reaction time, as the biggest obstacles for supply chain organizations.

Handling supply chain papers by hand may appear easy, yet it generates many issues. Here, simple activities become irritating, time-consuming issues.

Human error and inefficiency

• Face it- we’re humans. When working with a lot of papers, it’s simple to make mistakes, lose them, file them incorrectly, or accidentally copy records.
• These minor mistakes and manual work generate enormous delays. While waiting for approvals, your team and partners are frustrated, payments are delayed, and items take longer to be delivered.
• This work is expensive and slow. Data entry, paper searching, and error correction require time, resources and increased labor costs.

Lack of visibility and control

• It’s hard to remember who signed an invoice or where a bill of lading is. Documents become lost in email inboxes, desktops, or office and partner systems, making it impossible to see what’s happening.
• Checking for conformity becomes a detective job. Without a central, easily accessible system, collecting all the documents is difficult.
• Manual recordings are usually single sheets of paper or static files. It’s nearly impossible to find valuable information, trends, or insights to improve your decisions.

Scalability issues

• Manual techniques manage set amounts of work. The old system can’t cope when your company grows or when something unexpected happens around the world, increasing orders or shipments.
• The bottlenecks worsen, delays lengthen, and your team is exhausted, making it a challenge to act swiftly and effectively when it matters most.

Enter AI: A game changer for supply chain documentation

AI speeds up tasks slowed by humans. It’s an intelligent paper assistant, not just a computerized file cabinet.

What is AI-powered document management software?

Consider AI-DMS a team of smart, hardworking document handlers. AI, Machine Learning, and Natural Language Processing – smart computer brains that learn and interpret language like humans – read, understand, and process your papers instantly and without effort.

It’s like having a super-smart helper that can automatically and accurately read an invoice, understand each figure and word, highlight essential details, and select who should see it next.

How AI-DMS transforms supply chain documentation

This goes beyond document scanning to deep understanding and automation. Some key ways AI-DMS helps:

• Intelligent document capture: Email sorting and manual uploads are gone with Intelligent Document Capture. It easily imports files from email, scanners, shared folders, and SFTP.
• Smart data extraction and recognition: AI is great at data extraction and recognition. In any format (PDFs, XMLs, scanned photographs), it can “read” invoices, purchase orders, packing lists, bills of lading, and customs papers. It correctly collects invoice numbers, line item descriptions, quantities, pricing, vendors, and shipping addresses.
• Automated data validation: The system may automatically check extracted data against ERP or accounting software for accuracy.
• Automatic workflow & routing: According to your requirements, the AI can automatically send the document to the right person or department for inspection, approval, or processing after data gathering and validation.
• Audit trails and reporting: System logs all actions. Compliance check history and document processing times and bottlenecks are shown.

Some examples

• Wolt (Food delivery/Tech): This delivery company handles a lot of restaurant and rider accounts payable (AP) paperwork. Manually processing invoices was slow. Wolt drastically cut invoice processing time with Rossum’s AI document processing solution. 

They scaled their operations without increasing their AP staff size by using AI to do most of the tasks in seconds. This increase in speed improved their ability to pay partners quickly.

The tangible benefits: What AI brings to your supply chain

Switching from manual to digital document management software transforms your supply chain and gives you a competitive edge.

Unparalleled efficiency and speed

• Manual processing now takes minutes or hours instead of days or weeks. Capturing, understanding, and processing documents is lightning fast.
• Faster payment cycles for suppliers improve relationships, and faster shipment turnaround times keep things moving.
• Internal workflows that were slow before became swift and fluid.
• Suppose one person could perform a million transactions in a year. That level of efficiency is achievable.

Dramatic improvement in accuracy

• AI reduces easy but costly manual data entry errors like typos and missing information.
• The technology always extracts accurate data, ensuring it matches across your systems.
• With precise data from the start, supplier and partner disagreements decrease.
• Wolt automated their accounts payable paperwork with AI and reduced error rates by 60%, making their financial procedures more dependable.

Enhanced visibility and control

• All your key supply chain document data is available in real time. Stop scanning emails and using filing cabinets.
• Clear, immediate document views let you make faster, smarter inventory, logistical, and payment choices.
• When all documents and their history are available, audits are faster and compliance is easier.
• A document-flowing AI system lets you instantaneously view the status of every purchase order or customs statement, enabling supply chain transparency.

Cost savings and resource optimization

• Manual data entry is greatly reduced, lowering labor costs.
• Your staff can focus on strategic tasks that build the business or solve complicated problems instead of monotonous, low-value activity.
• Document handling costs, including printing, storage, and manual review, are reduced.
• The time saved on manually inputting invoice data can be used to analyze spending patterns or strengthen supplier relationships, adding value.

Scalability and adaptability

• As your firm grows or experiences unexpected surges in activity (such during holidays or market shifts), the AI system can handle the extra document load without hiring more workers for processing.
• The system can adapt to new document types and workflow requirements, making supply chain documentation adaptable and future-ready.
• A global event increased shipping document volume for one organization, yet their AI system scaled seamlessly without slowing down or overwhelming their personnel.

Choosing the right AI-powered document management software

Choosing the right system is key. You want something that addresses your problems and prepares you for success, not just complicates things. Look for these crucial things:

Key considerations

• AI accuracy and learning: Is the AI capable of understanding complex documents? Are processed things smarter? AI that adjusts to new document layouts and kinds without manual modifications is needed.
• Integration: Is the program compatible with ERP, accounting, and other supply chain tools? Data silos must be reduced and processes streamlined through seamless integration.
• Scalability and flexibility: Can the system manage more documents as your company grows? Can it handle new document types or processes? Make it grow with you.
• User-friendliness: Want your team to use it? A clear, straightforward interface should make the software easy to set up, monitor, and use everyday, reducing training.
• Security and compliance: Business data is delicate. Make sure the program is secure and meets industry laws.
• Customer support and training: How will you get setup and troubleshooting help? A successful transfer and long-term success require reliable advice and training.

Look for a platform designed to handle complicated and varied supply chain documentation. For instance, Rossum utilizes a robust, learning AI core to interpret a variety of texts from the start and continuously improve.

Easy interaction with major corporate systems and scaling as volume grows are its priorities. It has a simple interface that lets your team handle documents, strong security features, and reliable customer service to help you every step of the way.

For true document process revolution, choose a platform that tackles these issues.

Empowering the future of supply chain management

Overall, manual document handling is a big obstacle in today’s fast-paced supply chains. AI-powered document management software is no longer a luxury; it’s crucial for moving forward.

Combining people’s and AI’s strengths is powerful. Imagine a time when your staff can focus on strategic thinking, complicated problem-solving, and innovation instead of data entry. Collaboration alters supply chains.

Ready to ditch the paperwork and gain control? For a stronger, more robust supply chain, exploring AI documentation is the best approach.