Intelligent Billing and Invoicing Automation for Enterprise Revenue Management
DOI:
https://doi.org/10.63282/3117-5481/AIJCST-V6I1P113Keywords:
Intelligent Billing, Invoice Automation, Enterprise Revenue Management, Machine Learning, Electronic Invoicing, Anomaly Detection, Financial Process OrchestrationAbstract
The lack of homogeneity in transaction data, complex pricing model, fragmented enterprise application, regulations, and revenue recognition in time are becoming an ever-growing challenge to enterprise billing and invoicing processes. Conventional workloads may also be based on manual data entry, data validation based on rules, and fragmented financial systems that generate additional opportunities to make processing mistakes, invoice delays, and reconcilage difficulties, along with, limited financial visibility. Although machine learning, document intelligence and electronic invoicing have attained a very mature stage, it has been a severe matter as how these systems can be brought together to work as a unified entity in managing enterprise revenues. In this paper, we are going to establish an Intelligent Billing and Invoicing Automation Framework (IBIAF) a blend of document intelligence, transaction validation, customized billing rules, anomaly detection, workflow orchestration and integration of financial systems. The framework has seven functional layers, which combine the source transactions into approved invoices and aid in approval, solving of exceptions, enabling the delivery of traceable invoice and financial records. It is designed in ways that accommodate human supervisions, trust-based processing, access control, audit trail and monitoring mechanisms to meet the demands of both operational and governance requirements. Rather than providing an empirically demonstrated word, the paper critically examines the proposed architecture by reviewing literature based to evaluate the functional completeness, integrationability, scalability, interpretability, robustness, as well as, deployment restrictions. The core product is a bundled offering of how to tie down the architecture between automation at invoice level and revenue management and financial control at an enterprise level. The framework provides a foundation to organizations that seek to rationalize billing operations without affecting the accountability, regulatory flexibility and trustful financials.
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