Accelerate invoice management

AI-based (e-)invoice workflow for the real estate industry

Invoice processing is often resource-intensive and error-prone. Our solution digitalizes and accelerates the entire invoice management process by up to 85%, reduces invoice processing costs and ensures greater transparency.

Overview

From invoice receipt to payment in under 4 days

The real estate industry faces specific challenges in (e-)invoice processing: lots of service providers, decentralized structures and time-consuming capture and approval processes. Our approach to process optimization uses modern technologies such as artificial intelligence (AI) and machine learning to automatically capture, analyze, classify and pre-assign (e-)invoices directly into the relevant ERP system.

Automatic data extraction for invoices, reminders and credit notes

Data capture

Data capture is one of the biggest challenges in invoice processing in the real estate industry. Our AI-based text recognition extracts all relevant information from documents such as invoices, reminders and credit notes. The data is then checked by our quality assurance department to ensure almost 100% data quality.
Process acceleration through flex routing and automated account assignment

Invoice processing

Paper-based invoices and manual approval processes significantly slow down invoice processing and lead to high process costs, reminder fees and missed cash discount benefits. Our solution digitalizes and automates the entire process: Flex routing makes it possible to configure individual approval processes without developers based on various parameters. With the booking automation, invoices can be automatically forwarded based on defined parameters, such as the amount volume. We also capture property-specific accounting fields, such as billing units and ancillary cost formulas, and provide account assignment suggestions based on historical data. External approvals can be initiated directly in the system and incorrect invoices can be immediately returned to the vendor.
Seamless ERP integration

Invoice posting

Often, invoice processing programs do not communicate automatically with the ERP system, or a development effort is required for interfaces. SmartInvoice integrates easily with existing ERP systems so that automated invoice data can be transferred directly into your company’s accounting and financial systems.
Use cases

Property-specific from receipt to payment

Classification
Acceleration of data capture

SmartInvoice enables precise classification of various document and invoice types. The solution detects whether an (e-)invoice, reminder, credit note, cancellation or another document type is being processed. In addition, SmartInvoice classifies the invoice type and determines whether an invoice is apportionable, relates to a recurring entry, maintenance costs or, for example, an insurance claim.

Automated duplicate check
Avoiding double entries

The automated duplicate check reduces manual effort and minimizes the risk of double entries. The structured processing of all invoices in our workflow creates the basis for increased data transparency and intelligence. Our SmartInvoice solution automatically detects duplicates among the invoices processed. The criteria for duplicate detection are flexibly configurable and can be individually customized. If duplicates are detected, the responsible processor is notified to review the corresponding invoices. Potential duplicates and the associated invoices can be viewed and corrected if necessary. The rejection also takes place directly and traceably within SmartInvoice.

Completeness check
Quality assurance

The automatic completeness check identifies invoices that do not comply with the requirements of Section 14 of the German Value-Added Tax Act. SmartInvoice automatically generates alerts that notify invoice processors when essential information is missing, such as invoice number, performance period, performance recipient, tax number or other mandatory information. In the case of incorrect invoices, the responsible processors are intuitively instructed to reject the respective invoices. The email address is automatically taken from the invoice, pre-formulated text modules are available, and the vendor can be notified by email directly from SmartInvoice.

Collaboration
Integration of all service providers

SmartInvoice can be used to contact more than just vendors who have submitted incorrect invoices. Partner companies such as administrators, planners or architects also have the option to check invoices in SmartInvoice. They can be contacted by sending a link via email and do not need a SmartInvoice account to grant external approvals. In addition, SmartInvoice offers the possibility to easily forward invoices and send them directly to the respective recipient on individually customizable letterhead. Chargeback invoices can be created directly in SmartInvoice and sent by email to the respective recipients, such as tenants.

Account assignment suggestions
Time savings through AI-driven account assignment suggestions

Our technology automatically generates AI-based accounting suggestions. Historical invoices and account assignments are input to train the AI on various accounting issues. This historical data is linked to current invoices based on attributes and forms the basis for precise account assignment suggestions. The historical data can be viewed at any time and is linked to the current process. In addition, several account assignment lines per transaction are possible, as is an account assignment split across different transactions.

Routing
Flexibly configurable approval process

Flex routing makes it possible to configure approval processes individually and flexibly based on various parameters – without any developer effort. For example, invoices can be automatically approved up to a specified amount and posted directly in SAP based on the “amount volume” parameter.

Booking
Simple integration into ERP

Booking data that has already been approved is created as business transactions in the booking system and posted automatically, since the approval process was previously carried out in SmartInvoice. The booking data is stored on an SFTP server and retrieved daily from the respective systems, which significantly simplifies integration with ERP systems. The import and export of data can be flexibly configured for the admin user.

Modularity

Making data versatile

Our process and data solutions offer you comprehensive automation and transparent data preparation, with modular expansion options. In addition to invoice processing, further data can be extracted from invoices. The esgREview module can be used to record ESG-relevant data such as consumption, emissions and costs. The costREview module enables a transparent processing of all cost types and creates a digital cost twin of your property.

FAQ

SmartInvoice is suitable for undertakings of all sizes. SmartInvoice.ai offers an optimal standard solution for small and medium-sized enterprises. Large companies benefit from SmartInvoice.custom, which is individually adapted to the specific processes and requirements by our experts. We would be happy to advise you on which solution best suits your company.

We support you with onboarding and take care of the initial upload. Alternatively, we offer interface integration to your ERP system.

Yes, external service providers, such as property managers, can gain access to SmartInvoice via our rights management.

The quality assurance of invoices is determined by service level agreements (SLAs) and is carried out after prioritizing the documents based on their due date.

Yes, quality assurance is an optional quality gate and can be omitted as needed.

Yes, we offer a variety of ERP interfaces in cooperation with our partners.

Yes. Like all of our tools, SmartInvoice also meets the globally recognized standard for information security management systems – because security is our top priority.

SmartInvoice can process a variety of document types, including:

  • Invoices (PDF, XML, etc.)
  • Credits
  • Reminders
  • etc.
References

What our customers are saying

“With SmartInvoice, invoice processing and throughput times can be significantly reduced. AI-based invoice management leads to higher quality, greater customer satisfaction and improved competitiveness. For me, that is a decisive advantage.”
Ampega Real Estate GmbH
“We use Eucon’s intelligent processes for our invoice management. Using AI technology, we digitalize and validate incoming documents and ensure that the entire invoice processing process can be rapidly completed along a purely digital path. In the past, managing our commercial real estate portfolio entailed a lot of manual work. Thanks to the cooperation with Eucon, that is now history. The results speak for themselves: The processing of an invoice document, from the mathematical and factual check to the approval with the appropriate authorization, has been significantly shortened. Furthermore, there is now complete transparency regarding the respective processing status and final documentation of the entire process. We have also succeeded in successively enhancing data quality with the platform-oriented solution.”
Union Investment Real Estate GmbH
“A strong competitive positioning is the be-all and end-all for real estate companies. Efficient and error-free processes pave the way there. Eucon’s innovative solutions for optimizing digitalization processes in real estate management provide us with effective support, thereby laying the foundation for an automated and leaner billing process at STRABAG Property and Facility Services. This enabled us to significantly reduce the amount of time and effort spent. The resulting lower process costs – while simultaneously enhancing quality and transparency – increase our competitiveness enormously. Thanks to Eucon, we can also quickly implement the evaluation of processes and economic analyses.”
STRABAG Property and Facility Services GmbH
“We use Eucon to automate the invoice workflow for our centre and property management for numerous mandates. In addition to the process-optimised mapping of property-specific routing requirements, we were also able to significantly increase the efficiency of invoice processing with the introduction of Eucon.”
VÖLKEL Real Estate GmbH

Your contact

Please feel free to contact us and we will jointly determine how to integrate SmartInvoice into your organization.

Felix Humberg

Director Sales

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