Tonkean InvoicesGPT

Tonkean InvoicesGPT is an innovative tool designed to streamline the process of handling invoices, making it significantly easier and more efficient for businesses. It functions by allowing users to quickly and effortlessly connect their email inboxes or Google Drive to the Tonkean platform with just a click. Once connected, the tool automatically analyzes incoming invoices, extracting important information such as vendor details, invoice numbers, billing and shipping addresses, item descriptions, quantities, prices, and tax amounts.

This advanced solution is part of Tonkean's ProcurementWorks, a set of products aimed at automating business process automation, including procurement. By fully automating the invoice management process, InvoicesGPT not only saves valuable time and effort but also enhances the user experience, encouraging greater adoption of the process by requesters.

One of the key features of Tonkean InvoicesGPT is its user-friendly, plug-and-play nature, making it accessible to users regardless of their technical skills. It eliminates the risks associated with manual invoice processing by using artificial intelligence to accurately extract data, thereby reducing the possibility of errors and improving spend management insights.

In summary, Tonkean InvoicesGPT provides a comprehensive, easy-to-use solution for automating the management of invoices and spend processes, streamlining workflows, and optimizing operational efficiency.

Tonkean InvoicesGPT offers a variety of use cases aimed at enhancing efficiency, accuracy, and automation in handling invoices and managing expenses. Here are some key applications:

1. Invoice Processing Automation: It simplifies the handling of incoming invoices by connecting the user's email inbox or Google Drive to Tonkean. This connection enables the automation of the entire invoice processing workflow, from data extraction to verification, which in turn, saves time and minimizes errors.

2. Three-Way Matching: The tool can automatically perform three-way matching, a process that compares the purchase order, the goods receipt note, and the invoice to ensure they all match before payment is processed. This reduces the risk of fraudulent invoices and ensures that payments are made only for goods or services actually received.

3. Spend Visibility and Management: Tonkean InvoicesGPT helps businesses gain insights into their spending across different vendors and departments. By providing a clear overview of expenses, it enables better budget management and helps identify opportunities for cost savings.

4. Accounts Payable Processing: It streamlines accounts payable tasks by automating the matching of invoices to purchase orders and payments, thus freeing up the finance team to focus on more strategic tasks.

5. Invoice Data Extraction: The tool uses AI to accurately extract data from invoices, including vendor details, amounts, and descriptions, thereby reducing manual data entry and the potential for human error.

6. Procurement Lifecycle Orchestration: Tonkean InvoicesGPT automates the end-to-end purchasing process, from procurement to payment, creating a guided buying journey that reduces errors and increases efficiency.

Tonkean InvoicesGPT offers free lifetime access, making it an accessible solution for automating invoice processing without any financial commitment. This offers a great opportunity for businesses to leverage advanced AI capabilities to streamline their invoicing processes efficiently and effectively without worrying about subscription costs.

Tonkean, the company offering InvoicesGPT, was founded by Offir Talmor and Sagi Eliyahu​​. The company is known for transforming operations teams from facilitators into makers with an operating system for business operations, suggesting a focus on innovation and automation in business processes.



Offir Talmor

Founder



Sagi Eliyahu

Founder

Tonkean has secured significant funding over its growth period, including a $24 million Series A round led by Lightspeed Venture Partners. This funding supports its development of software platforms for operations teams, aiming at automating tasks and improving efficiency. The company's focus on "adaptive business automation" showcases its commitment to streamlining business operations through technology.

Total funding amount reaches $83.2 million, indicating a strong backing from investors and a solid foundation for its continued growth and development in automating business processes.