Aavenir, Inc. announced the availability of its integration of Aavenir Invoiceflow, an AI-enabled accounts payable solution, with ServiceNow Project Portfolio Management (PPM) application to automate actualization of project costs and track project expenses. Furthermore, the integration would allow project managers to track actual project cost vs. budget cost in real-time to take necessary corrective or preventive measures. Announced as a Leader in Gartner Magic Quadrant for Enterprise Agile Planning (EAP) Tools in April 2021, ServiceNow ITBM is the only vendor to support both traditional project portfolio management and agile portfolio on a single platform, with a single data model. World’s leading companies use ServiceNow Project Portfolio Management (PPM), a part of the ITBM, to perform demand management, resource planning, financial planning, and track the performance of projects portfolio. PPM also enables project managers to allocate budget, create project cost plans and track expense lines. Built natively on the Now Platform, Aavenir Invoiceflow leverages the most advanced natural language processing and machine learning technologies to offer touchless invoice data capture, coding, and 2/3-way validation with the vendor, purchase order, or contract data. The solution automatically brings invoices and its metadata on ServiceNow from email attachments and routes them through a fully customizable invoice approval workflow for accurate and on-time payments. The integration of ServiceNow PPM application with Aavenir Invoiceflow can auto-update PPM’s expense lines with the relevant approved invoice information available in Aavenir Invoiceflow (such as vendor name, invoice #no, related cost plan, amount, payment due date, and payment status, etc.). Key benefits of this integration include: Automated data entry: Reduce time and errors in manual data entry of actual costs to relevant expense lines in PPM’s cost plans. The automation brings more transparency between project managers and the accounts payable team. Real-time visibility to project KPIs: Gain visibility into the project’s financial key performance indicators (KPIs), cost variances, and strategic spend for better outcomes. Execute project audits better: With all costs reconciled in ITBM PPM, project managers can easily maintain a single version of the truth. It also increases PMOs’ agility for optimizing and reallocating budgets as priorities shift.