Artificial Intelligence (AI) is rapidly transforming the way business is conducted around the world. From travel planning to finance, AI is taking over complex tasks and making them more efficient for end users. The software team at Standard Prva is keeping pace with this trend by implementing advanced AI modules into its accounting software, Perun. These new features — cost prediction, automatic invoice classification, and document recognition — have been developed to simplify everyday financial processes for business users. In the following, we explain how these functionalities were developed, tested, and applied in practice, and how Standard Prva’s approach stays aligned with global AI trends while remaining tailored to the specific needs of users in Southeast Europe.

Cost Prediction: Budget Planning in Advance

Cost prediction uses AI to analyze historical financial data and forecast future expenses. Practically speaking, based on past trends, Perun can warn managers in advance about potential cost increases or possible savings. For example, the module may predict that material procurement costs will rise by 5% in the next quarter. Such information gives companies valuable time to adjust their budgets or negotiate better terms with suppliers. This kind of proactive planning helps decision-makers avoid unwanted financial surprises.

How was the cost prediction module developed?
The Standard Prva team trained the AI system on a large volume of historical financial data from various companies. Using machine learning techniques, the module learns to recognize patterns such as seasonality, growth trends, or unexpected cost spikes. Before being rolled out in practice, the predictive model was thoroughly tested—its forecasts were compared with actual past financial outcomes. Based on any discrepancies, the algorithm was fine-tuned until the predictions became accurate enough for real-world use. The result is a reliable tool that provides financial teams with trustworthy cost projections they can confidently rely on.

Automatic Invoice Classification: Accelerating Bookkeeping

One of the most demanding administrative tasks in accounting is the manual sorting and posting of incoming invoices and bills. The AI module for automatic classification in Perun addresses this issue by independently identifying the type of expense and categorizing each invoice into the appropriate accounting category. For example, a fuel bill will be automatically classified under transportation expenses, while a bill for computer equipment will fall under equipment procurement. The software follows predefined rules and uses learned patterns to consistently post each item in the correct place. This drastically reduces the time accountants would otherwise spend on manual entry and corrections, while financial reports become faster to update and more accurate.

The development of this module involved using a large number of sample invoices of various types so that the AI could “learn” to recognize patterns. The development team, in collaboration with experienced accountants, collected data in which each invoice was labeled with the appropriate category (e.g. utility expenses, raw material procurement, employee salaries, etc.). Through machine learning, the algorithm learned to associate key information with these labels, recognizing, for instance, that documents containing fuel-related items belong to transportation costs.

During testing, the system was evaluated using entirely new (previously unseen) invoices to verify classification accuracy under real-world conditions. Cases where the module was uncertain or made errors were used for further refinement — the software was retrained with additional examples until the results became reliable. Today, this module runs in the background of Perun and achieves a high level of precision, so that most incoming invoices are properly classified the moment they enter the system — before an accountant even opens them.

Document Recognition: Digitizing Paperwork with AI

Manually entering data from paper or PDF documents is time-consuming and prone to errors. The document recognition module in Perun makes this process faster and more reliable. This AI tool can “read” invoices, contracts, bank statements, and other business documentation — whether scanned paper or digital file — and automatically extract important information. Instead of employees manually copying the amount, date, and invoice number from a received PDF, the system reads this data within seconds and places it into the appropriate fields in the software. This speeds up document processing, reduces the risk of typing errors, and ensures all documents are immediately archived and searchable in digital form.

By combining Optical Character Recognition (OCR) technology with machine learning, the team trained the AI to recognize various document formats used in business throughout Southeast Europe. Different invoice layouts, document languages, and transaction currencies were all taken into account. During testing, the module was evaluated using hundreds of scanned samples of varying quality — including photos of invoices taken with mobile phones — to assess its performance under less-than-ideal conditions. Each identified error (e.g., an incorrectly read number or letter) served as feedback for improving the system. After numerous iterations, the document recognition module is now able to extract key information from documents with a high degree of accuracy and forward it through Perun, making the processing of business documents almost entirely automatic.

Implementation of AI for end users is expected to begin in 2025, once all testing is complete.

Keeping Pace with Global Trends: From Travel AI Assistants to Business Solutions

Artificial intelligence-based assistants are becoming the new norm across various industries worldwide. A clear example is the travel sector, where leading online platforms are introducing AI chatbots to help users plan and book vacations more easily. According to The Economist, Expedia has already tested its “AI travel companion” called Romie, Trip.com has launched an assistant named TripGenie, and Booking.com has introduced its own AI Trip Planner. These digital assistants understand user requests and provide personalized travel plans, essentially taking over much of the work once handled by traditional travel agents.

While vacation planning and accounting may seem worlds apart at first glance, the essence of AI application is the same. Artificial intelligence handles complex, repetitive tasks to save time and assist in decision-making. The Perun software team follows this very principle in the domain of business finance. Just as global companies like Expedia use AI to simplify travel planning for millions of users, Standard Prva is implementing AI to accelerate financial processes for hundreds of companies in our region. This demonstrates that Perun is aligned with global practices—introducing the latest AI innovations—while adapting them to meet the specific needs of business users in Southeast Europe. In other words, Perun users gain the benefits of cutting-edge technology, fine-tuned to their language, regulations, and established business practices.

Benefits for Business Users

The integration of AI modules into the Perun accounting software is more than just a technological advancement—it brings tangible benefits to companies. Some of the key advantages for business users include:

• Time Savings:
  By automating data entry and processing, employees can shift their focus from routine tasks to more meaningful analysis and decision-making.

• Greater Accuracy:
  AI modules reduce the risk of human error in bookkeeping and ensure consistent application of accounting rules, leading to more reliable financial reports.

• Improved Planning:
  Predictive analytics helps managers identify trends early (e.g., rising costs in specific areas) and proactively adjust budgets or strategies.

• Competitive Advantage:
  By leveraging modern AI solutions, regional companies keep pace with global trends, increase operational efficiency, and stand out through innovation.

Through the integration of these AI functionalities, Standard Prva, via Perun, is helping businesses modernize their operations. The end result for Perun users is less time spent on repetitive tasks and more time dedicated to strategic initiatives. Artificial intelligence—carefully implemented and thoroughly tested by the Standard Prva team—is becoming a quiet but powerful ally in business, working 24/7 to boost efficiency and enhance the quality of financial processes.

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"Standard Prva" LLC Bijeljina is a company registered in Bijeljina at the District Commercial Court in Bijeljina. Company’s activities are accountancy, repurchases of receivables, angel investing and other related services. Distressed debt is a part of the Group within which the company repurchases the receivables, which function and are not returned regularly.

Lawyer’s Office Stevanović is the leading lawyer’s office in the region with the seat in Bijeljina. The LO abbreviation represents Lawyer’s Office of Vesna Stevanović and Lawyer’s Office of Miloš Stevanović.

Contact for media press@advokati-stevanovic.com or via telephone 00 387 55 230 000 or 00387 55 22 4444.