Hermes

Hermes - AP Invoice Automation Software, developed by Calpion, is a software solution aimed at automating and streamlining the accounts payable (AP) invoice processing for organizations. According to the vendor, Hermes offers features and capabilities that can enhance efficiency and control over critical financial data, making it a valuable tool for finance professionals, accounting professionals, and accounts payable teams.

Key Features

Increase The Efficiency: According to the vendor, Hermes utilizes AI-based OCR technology to extract data from invoices, allowing for streamlined and automated AP invoice processing. The software also incorporates Robotic Process Automation (RPA) to validate business-specific rules and automatically send invoices to the financial system, improving control and visibility over financial data.

24/7 Processing: The vendor claims that Hermes enables 24/7 processing of invoices, resulting in reduced processing time and increased efficiency. According to the vendor, this feature can minimize human intervention, boost employee productivity, and reduce AP processing time.

Email and OCR Integration: According to the vendor, Hermes integrates with email systems using RPA to detect incoming emails and identify those containing invoices. The software utilizes OCR technology to extract data from invoices, optimizing the data pickup process with the help of Machine Learning. The vendor also states that Hermes provides a comprehensive 3-way check to reduce fraud and errors.

Custom Approval Workflows: The vendor claims that Hermes allows users to design and implement custom approval workflows based on business rules. The software can integrate with ERP systems and maintain backups for audits and archiving purposes. According to the vendor, this feature can improve vendor relationships, customer service, and enhance transparency and data accessibility.

Cloud-Based Processing: According to the vendor, Hermes operates on a secured cloud-based system, providing users with the ability to access invoices from anywhere and at any time. The software ensures data security through multi-factor authentication and generates automated reports for exceptions and errors. The vendor also states that users can customize reports based on roles and business units for added flexibility and convenience.