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Improving Invoice Allocation in Accounting—An Account Recommender Case Study Applying Machine Learning

In: Digital Business Transformation

Author

Listed:
  • Markus Esswein

    (University of Duisburg-Essen)

  • Joerg H. Mayer

    (Darmstadt University of Technology)

  • Diana Sedneva

    (University of Duisburg-Essen)

  • Daniel Pagels
  • Jean-Paul Albers

Abstract

Covering transactions between buyers and sellers, invoices are essential. However, not all invoices can be directly matched to a purchase order due to missing order numbers, differences in terms of the invoice amount, quantity and/or quality. Following design science research (DSR) in information systems (IS), the objective of this article is to propose a new kind of an account recommender by applying machine learning. We take a chemical company as our case study and build a prototype that today handles more than 500,000 invoices without purchase order per year more accurately and efficiently than manual work did before. Finally, we propose five design guidelines to drive future research as follows: (1) Truly understand the business need; (2) More data can only get you so far; (3) Give the machine a good starting position; (4) Computing power is crucial; (5) Do not burn your bridges yet (manual intervention).

Suggested Citation

  • Markus Esswein & Joerg H. Mayer & Diana Sedneva & Daniel Pagels & Jean-Paul Albers, 2020. "Improving Invoice Allocation in Accounting—An Account Recommender Case Study Applying Machine Learning," Lecture Notes in Information Systems and Organization, in: Rocco Agrifoglio & Rita Lamboglia & Daniela Mancini & Francesca Ricciardi (ed.), Digital Business Transformation, pages 137-153, Springer.
    • Handle: RePEc:spr:lnichp:978-3-030-47355-6_10
    DOI: 10.1007/978-3-030-47355-6_10
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