Optimizing Accounts Payable with Machine Learning and AI

This project focuses on the application of Artificial Intelligence and Machine Learning to optimize Accounts Payable (AP) processes and automate invoice generation. The project includes a Work Breakdown Structure (WBS) that details the ordering process, including order entry, record updates, and order release. It also covers the internal verification process, dispatching orders, and generating bills. Furthermore, the payment process and automatic invoice generation are outlined, demonstrating a comprehensive approach to streamlining AP operations. The project aims to leverage AI to improve efficiency, reduce errors, and enhance overall financial management. References are included to support the methodologies and concepts presented within the project.

MGT590 WBS
“A high-level deliverable-oriented hierarchical
decomposition of the work” (PMBOK® 4th edition, p. 116)
Project Name: AP Optimization through Machine Learning
Short SOW: Application of AI for Optimization of Accounts Payable and Generation of Automatic Invoice
Contributors: PLEASE FILL
Date: PLEASE FILL
1. Ordering Process
1.1. Receive Purchase Order
1.1.1. Order Entry
1.1.2. Entry of Purchaser Name
1.1.3. Check Inventory
1.1.4. Check Purchaser Record in Database
1.1.5. Confirm Order
1.2. Update Records
1.2.1. Assign Order to Purchaser
1.2.2. Calculate Unit Cost for Order
1.2.3. Calculate Total Cost for Order
1.3. Release Entry
1.3.1. Release Order through Verification
1.3.2. Print Bill against the Order
2. Internal Verification Process
2.1. Dispatch Order
2.1.1. Dispatch the Order to the Purchaser
2.1.2. Update Inventory Record
2.1.3. Generate Bill for Purchaser
2.2. Payment Process
2.2.1. Provide Payment Option to Purchaser
MGT590 Project Management
Sullivan University
16556048643352703907.docx

2.2.2. Receive Entry for Cash / Online Payment
2.2.3. Check for Change against the Payment
2.2.4. Adjust All Balances
3. Automatic Invoice Generation
3.1. Update Purchaser Record
3.2. Generate Invoice
2

Application of Machine
Learning in AP
Optimization
Ordering Process
Receive Purchase Order
Order Entry
Entry of Purchaser
Name
Check Inventory
Check Purchaser
Record in Database
Confirm Order
Update Records
Assign Order to
Purchaser
Calculate Unit Cost
for Order
Calculate Total Cost
for Order
Release Entry
Release Order
through Verification
Print Bill against the
Order
Internal Verification
Process
Dispatch Order
Dispatch the Order
to the Purchaser
Update Inventory
Record
Generate Bill for
Purchaser
Payment Process
Provide Payment
Option to Purchaser
Receive Entry for
Cash / Online
Payment
Check for Change
against the Payment
Adjust All Balances
Automatic Invoice
Generation
Update Purchaser
Record
Generate Invoice
Figure 1: Work Breakdown Structure
(Source: Created by Author)
3

References
Li, D., & Lu, M. (2016). Automated generation of work breakdown structure and project network model for earthworks project planning: a flow
network-based optimization approach. Journal of Construction Engineering and Management, 143(1), 04016086.
Siami-Irdemoosa, E., Dindarloo, S. R., & Sharifzadeh, M. (2015). Work breakdown structure (WBS) development for underground
construction. Automation in Construction, 58, 85-94.
4