July 21, 2022

Streamline Workflow via Sale Order Automation using IDP

Sales orders are created to simplify and record the transaction between a buyer and seller. Yet, with the increasing amount of transactions and multiple other paperwork to handle, learn how VisionERA IDP can be used for sales order automation.

What purchase order is to the buyers, sales order is to the sellers. It is an important piece of document that is utilized for carrying transactions between buyer & seller, and is collaterally recorded within the premises.

Recording the sales order is normally not a huge problem for small vendors. On the other hand, big enterprises often struggle to keep track of this data amidst manual document processing.

To fix this problem, vendors have started to adopt sales order automation to ease their workflow, and automate the monotonous sales order processing.

To begin with let’s first see what a sales order is?

What is a Sales Order?

A sales order is a document created by a seller to the customer describing the details related to the product or services rendered. A sales order typically consists of details such as the price, quantity, terms, and conditions, etc.

Key Entries within a Sales Order

As mentioned before, it typically consists of different entries that are directed from seller to the customer. These entries are:

  • Name of the company
  • Name of the seller
  • Contact details of the seller and company
  • Billing information
  • Shipping information
  • Information about the product or service
  • Price of the product without tax
  • Charges related to tax, shipping, and delivery
  • Total Price including taxes
  • Terms and conditions
  • Signature

Depending upon the use case and the point of origin, there can be more details added to a sales order. Although, the entries mentioned above are commonly a part of a sales order.

Process of Creating a Sales Order and the Final Payment

The creation of a sales order comprises a couple of steps. Below are the steps taken to create a sales order:

  • A quote is requested from the buyer’s end to the vendor for a particular service or product.
  • Once the request is received, the vendor sends the quote back.
  • If the buyer finds the quote right, a purchase order is generated at the buyer’s end.
  • After the vendor receives the purchase order (PO), a sales order is generated by the vendor on its end
  • based on the PO.
  • The sales order is forwarded to the buyer to confirm terms and conditions.
  • Vendor prepares the order as requested and delivers it to the buyer.
  • Post delivery, the vendor creates an invoice using the sales order details.
  • Upon receiving the invoice, the buyer makes the payment within the allotted time period.

What is Sales Order Automation?

Sales order Automation is the automation of steps associated with sales order creation. It helps in streamlining the process and takes out redundant activities such as data entry and validation from the cycle. This thereby helps in clearing the clutter that comes with the process and optimizes the task with reduced TAT (turnaround time) and operational cost.

What are the major benefits of Sales Order Automation?

There are plenty of benefits that come post sales order automation. These are:

  • It automates the task of extracting data from sales orders leading to a huge reduction in manual work load.
  • With sales order automation, a majority of costs related to operational cost and labor wages are reduced almost immediately.
  • It substantially speeds up the task by capturing all the incoming documents, extracting data, processing it for exceptions, and uploading it to the ERP system.
  • It enhances customer experience as well as workplace experience because the customer receives faster service and the employees get a solution to resolve queries faster.

How can VisionERA help in Sales Order Automation?

VisionERA is an intelligent document processing (IDP) platform. It helps in automation of operations related to document processing i.e. data extraction, data validation, and storage.

It is a platform developed using multiple advanced proprietary technologies such as artificial intelligence, machine learning, natural language processing, and computer vision. The collaboration of these technologies makes it an intuitive and cognitive document processor.

VisionERA IDP can immensely help in the automation of sales order because of its capability to process unstructured documents in bulk without any manual intervention. Adding to it, the platform can be combined with RPA to automate tasks that take place within the sales order creation cycle. Also, it has the capacity to directly upload the data directly into multiple downstream applications such as SAP, ERP, DMS, CMS, mails, messages etc.

Sales Order Automation via VisionERA IDP Example:

Suppose there is a batch of 1500 sales orders coming from multiple sources that needs to be processed and validated before archival. For validation, the buyer is using existing contact information and name of the company of the vendor.

Once initiated, VisionERA would start extracting and validating data from the batch of sales orders fed to it. For validating the sales order, the platform will directly search the data from the existing database or the operator could manually verify it by feeding a document for validation. This extracted data can either be directly fed to the central repository, any downstream application, or can be exported in the form of excel or CSV sheets.

Benefits of using VisionERA IDP

There are several benefits of using VisionERA IDP that can be immediately seen. These are:

Easy Data Capture

At core VisionERa is a data capture platform that performs its functions with a cognitive and intuitive approach because of the AI-based engine. The platform can be used directly without any pre-training with the sample and has the capacity to provide accuracy upto 99% or more.

Custom Workflow

VisionERA is an industry and use case agnostics platform. It means that it will not only help with sales order automation but other aspects of your business’s documentation automation as well.

With the capability to customize the document workflow, the operator can decide the documents required and the processes that fall in between. These workflows can be changed or updated, or the operator can choose to create a new one from scratch.

Reduced Cost and TAT

The more fruitful benefit of sales order automation via VisionERA is that it reduces both cost and turnaround time. It happens because VisionERA IDP is exponentially faster than any of the traditional document processing method. Adding to it, faster and automated document processing frees up multiple resources and assets, thereby leading to reduced operational cost.

Fraud Detection

With VisionERA, it is possible to detect fraud. It is because the data is 100% verified, thereby a fraud can be easily detected using triangulation logic and common logic.

Error-Free Data

Manual data processing is prone to errors because of its repetitive and monotonous nature. On the other hand, VisionERA being a digital document processor processes each and every document with similar importance. It makes the platform capable of making zero errors in data throughout the process.

Audit Ready Data

The data provided by VisionERA IDP is sorted and segregated in nature. This makes for audit ready data that can be easily transported into sheets that can be used for creating reports and checking budget inconsistencies.

Summing Up

There can not be a better platform for sales order automation other than VisionERA intelligent document processing. The platform is capable of seamlessly processing thousands of sales orders in a single-go with minimal intervention and without making errors. Its capability to process any kind of template makes it a suitable solution for large organizations. Also, it is pretty effective with end-to-end automation and integrating with existing infrastructure.

With VisionERA, organizations would be able to see radical changes in terms of document processing. Tasks such as processing a batch of thousand documents or ten thousand documents won’t feel like a burden. It can enhance the work experience drastically and provide great results providing higher productivity and efficiency within the organization.

Want to learn about the compelling features of VisionERA and what it can do for you? Click on the link below.

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