AI-Powered Invoice Processing for a Global Diamond Manufacturer
INDUSTRY
Finance
use case
Transforming Finance Operations with AI
Solution Type
AI-Powered Invoice Processing
.svg)
Customer: A $1.8B global diamond powerhouse with operations in 12 countries, handling thousands of high-value diamond transactions daily. This company is a leading manufacturer and distributor of diamonds, known for its commitment to quality, precision, and excellence in the luxury industry. With a vast global network, it plays a crucial role in supplying premium diamonds to retailers and brands worldwide.
· Processing over 10,000 invoices monthly, with many handwritten.
· Each transaction valued in millions, leaving no room for error.
· 3-day manual processing involving a 15-person finance team.
· High-risk compliance requirements across multiple international markets.
· Rising costs and inefficiencies in manual invoice processing.
· Skilled finance professionals trapped in repetitive data entry tasks.
To overcome these challenges, the company implemented Oraczen’s AI-powered invoice processing solution, which featured:
· Diamond industry-trained Vision AI for precise data extraction.
· Automated validation checks aligned with diamond market rates.
· Multi-currency processing with real-time exchange rate conversion.
· Smart pattern recognition to manage diverse invoice formats.
· Real-time compliance checks ensuring regulatory adherence.
The transformation was dramatic and immediate:
· Reduced invoice processing time from 3 days to just 3 hours.
· 90% accuracy in automated data extraction, surpassing human precision.
· 85% reduction in manual workload, allowing skilled employees to focus on strategic tasks.
· 100+ hours saved monthly in processing time.
· Zero compliance issues, thanks to a fully automated audit trail.
“From drowning in paperwork to driving strategic decisions—our finance team now operates at a completely different level. This isn’t just automation; it’s a complete revolution in how we handle our most critical financial operation.”
— Senior Finance Director, Diamond Manufacturer
AI-driven invoice processing is not just about automation—it’s about efficiency, accuracy, and strategic impact. Discover how Oraczen can help transform your business today!
