Industry: Real Estate
Annual Invoice Volume: 1,650,000
Employees: 15,000
ERP: Microsoft Dynamics 365
Impact with Vic.ai: Global home association leader Associa processes 45,000 invoices a month through Vic.ai, with 47% on Autopilot at 97% accuracy.
Associa, a global leader in home association management, serves 7.5 million homeowners with property management services, solutions, and resources. The organization has 15,000 team members and 300-plus branch offices to meet the needs of residential communities in the U.S., Mexico, and Canada.
The challenge: Complex organizational structure with manual invoice ingestion and coding
Associa's AP structure is complex, spanning multiple systems and hundreds of branches. Unique vendor IDs, various invoice ingestion types, and a ticket-based assignment process strain the processing team. Analysts — both in-country and offshore — manually read, enter, and code invoices while resolving tickets. As a result, invoices often sat in queues for days, delaying cash flow management and forecasting.
Invoices often sat in queues for days before being processed, causing critical delays related to cash flow management and forecasting. Offshore processing costs, manual invoice coding, and human errors were are also too high.
Leadership needed visibility into invoice data tied to association branches and more automation to ingest, read, extract, and match invoice data. They also needed to reduce offshore processing costs, manual coding, and human errors, and gain more actionable AP analytics. And with an existing tech stack in place, any new technology needed to integrate seamlessly while creating new efficiencies and streamlining invoice ingestion and processing.
The solution: Autonomous invoice processing reduces human intervention
The company selected the Vic.ai platform to automate invoice processing. With more than 1.6 million invoices processed annually, Associa selected branches to initially pilot the AI-first platform. With Vic.ai, invoices are now uploaded via an email inbox and immediately ingested for data processing and extraction. Based on historical master data, AI then predicts the property location and company, and populates invoice data for faster processing. The AP team then verifies the data as required, and invoices are sent for payment.
Associa is already processing 45,000+ invoices a month through Vic.ai at 97% accuracy. And 72% are no-touch, which means upon review, the invoice processor made no changes to the predictions made by AI. Plus, 47% are on Autopilot and move straight from ingestion to approval without any human intervention.
Now, the AP team can govern cleaner data and taxonomy across branches and incoming invoices, fueling greater accuracy. An elastic search assists leaders with locating specific accounts easily, and AI prediction modeling generates top vendors by spend for better overall management and decision-making.
With the organization leveraging Vic.ai in both the property management division and corporate office, project leaders are eager to expand the benefits of AI company-wide. Associa is processing 45,000+ invoices a month through Vic.ai at 97% accuracy. And 72% are no-touch, which means upon review, the invoice processor made no changes to the predictions made by AI. Plus, 47% are on Autopilot, which mean the invoices move straight from ingestion to approval without any human intervention.