At solv.ai we solve the problem of inefficient communication between people in supply chains. We are asked why our first solution, resolvr™, answers supplier queries? It’s simple. Suppliers raising invoice status and payment queries with Accounts Payable provides a clear example of how automating human communications provides a compelling return on investment. It is also an example of how supply chain service levels can be maintained and improved through automation.
That’s easy to say right? Well, 30% of Accounts Payable’s time is dedicated to answering supplier queries on invoice status or payment reconciliation. That’s 3 in every 10 AP staff constantly talking with suppliers over phone and email. Isn’t it better if all simple queries (which constitutes almost 60-80% of query volume) are answered instantaneously, and that complex queries are managed efficiently?
Improve Supplier Queries Through Automation
Automating these responses allows your AP staff to focus on value-add activities and provides accurate management information. The improved communication with your suppliers ensures they can plan cash management accurately and they can ask questions any time of the day, every day of the week. Our solution uses sophisticated artificial intelligence language processing to understand which questions suppliers are asking. The AI merges with your ERP data and consequently provides an appropriate response. It’s as simple as that. The conversation also includes internal stakeholders, allowing AP to track where approval bottlenecks are and measure resolution against key performance indicators.
This can be achieved with a return on investment within 3 months. Perhaps like us, you recognise that automating human communications in the supply chain is an exciting opportunity to improve processes and reduce costs. Of course, we’re obviously excited! solv.ai are working on a range of opportunities for optimising human communications. We understand that supply chain activities touch Accounts Payable, Procurement, Logistics and many other business functions. Therefore the question is, do you see the opportunities too?