Mastering Accounts Receivable Reconciliation
Streamlining Financial Processes with Innovative Automation Solutions
Why Artificial intelligence and Machine learning (AI & ML) driven Accounts Payable Automation is important?
- Automate Manual Data entry
- Productivity and Time Savings
- Cost savings
- Improved Accuracy
- Faster approval and Payment processing
- Integration and scalability
- Compliances
- Better data Insights and Predictive Analytics
Unlock Efficiency: Transforming Manual Data Entry with AI & ML Automation
Streamline operations, cut costs, and boost efficiency with automated processing solutions.
Effortless invoice management: Harness the power of AI OCR for accurate data extraction, seamless matching with PO’s.
Accelerate cash flows, seize early payment discounts and seamless approval routing.
Effortlessly integrate, automate, and eliminate manual data entry with AI & ML-powered accounts payable automation solutions."
Stay compliant, delivering transparent financial processes, robust controls, and hassle-free audits.
Unlock the account payable automation solution in 5 simple steps
Step 1
Importer
Artificio imports an array of structured and unstructured data from all sources such as Documents, Drives, Websites, Emails, Databases, Etc.
Step 2
Classifier
Artificio classifies the collected data into Individual Categories such as invoices, sales orders, contracts or any customised categories by business owners.
Step 3
Extractor
Artificio is known for taking a step further by extracting user-specific data fields, table line items or entities supported by deep-learning custom models.
Step 4
Validator (Notifier)
Artificio verifies and validates each data entity by running AI & ML learning models and rules and send notifications for approvals.
Step 5
Integrator
Artificio integrates data into ERP systems, Cloud, Database or any other portals via API’s, Jsons, XLS and CSV.
Features of accounts payable automation AI & ML Platform – Artificio
Leverage the power of AI & ML accounts payable automation with Artificio - Your smart solution for effortless Invoices data extraction, verification, integration and predictive analytics.
Auto Import Invoices, expense receipts, checks, remittances etc
Auto import or upload accounting documents
Artificio can auto import invoices related PDFs, Images or other scanned documents from dedicated email inboxes, FTP folders, SharePoint, Storage drives (google, one drive etc), via Shared URL or AI APP.
AI-OCR
Artificio platform backed by Artificial intelligence models ensures precise and reliable text detection and recognition of text words and data from various documents, including invoices, receipts, contracts, bank statements, remittance statements and forms etc, allowing for efficient processing across diverse industries and eliminates manual errors.
Auto extract Key pairs and table Line items from accounting documents
Key- Pairs values extraction
Artificio uses state of art AI models to auto extract the key pairs such invoices number, PO number, Total amount etc. required data from different structures/formats/layouts for the invoices, purchase orders, timesheets, contracts, proof of deliveryor any other inbox documents for accounts payable or receivable department.
Table-Line items
Artificio can easily auto detect the tables and extract the line items for the invoices or other documents using Artificial intelligence models for different table structures, columns and rows
Data verification - Custom Model Training and Rules set up
Custom Trained Models
Accounts payable user can create their custom models to extract some specific data entities (key pairs or chunks of data) from the invoices, purchase orders, sales orders, bank statements etc.
Create Verification rules and AI & ML Models
In Artificio platform, AP users can also set up their own rules to check duplicates , mandatory or perform calculations and add missing data or other required data to process invoices.
Anomalies detection
Artificio platform can detect the anomalies to prevent payment fraud or duplicate invoices by using AI & ML models and rules and send notification as well.
Auto predicting data
Artificio platform backed by AI & ML can predict and fix the other relevant data such as vendor id, product number based on description, account category determination which is not available in the documents.
AI APPs, Custom forms, and documents (layouts) Creation
Design Accounts payable AI Custom APPs
Account payable (AP) department can create their own customized AI driven app to collect invoices by using drag and drop components backed by AI and provide the access of the application to supplier or vendors. AP can also create and share the URL to supplier for submitting the invoices for auto processing.
Design emails and transmission to business partners
Accounts payable team can create their own custom static or dynamic email message, or AI can generate the dynamic text message based on the data to better collaborate with supplier and vendors to improve relationship.
PDF Design
Using our PDF design application, Accounts payable department can auto design and auto generate accounting documents or fillable PDFs and share/print the same with other team members or partners.
Data views - Daily, weekly, Monthly, Yearly Financial and Accounting reports
Predictive Data Analytics
Our inbuilt data analytics tool can show trends and charts for faster analysis on the invoices processed. AP team can also perform predictive analytics backed by AI & ML methodology on the total spending by week wise or month wise.
DataGrid Features
Cell editing, Row grouping, Export to excel, Pivoting, column filter, Header – line items view, Clipboard, Chart Integrations, Hide and show columns, Pin down, Sum or total for columns.
Multiple views
AP team can join multiple documents data in single view and process millions of rows.
Better B2B Account Payable Communication and collaboration
Exceptions handling via email notifications
As soon as Artificio see any exception in the extracted data, it can send the auto email notification to the suppliers, AP team, managers or any other third party for their approval.
Seamless Data Integration (SAP, Quick books, Oracle, Web portals and data bases)
Integration
Artificio can also easily integrate the verified data with QuickBooks, SAP FICO, ORACLE etc ERP systems via API calls. User can also download the data into XLS, CSV or Json formats.
Enjoy the Benefits of automating your AP with Artificio
Accurate Processing
Eliminates the human over-sight error.
Real-Time Monitoring
The accountants and CFOs can know the details of every cent at any given time.
Transparency
You can leverage the real-time dashboard reporting and can share access to the same.
Integration with AP system
You can integrate it with financial systems, Databases, ERPs, Etc.
Better Business Relationships
It helps in maintaining long-term meaningful relationships.
Utilisation of Talent
It makes the business flexible to restructure the staff.
Use Cases & Blogs
Democratizing Artificial Intelligence and machine learning, enabling innovation
Importance of Accounts Receivable Reconciliation
Discover how Artificio's AI-powered solution simplifies accounts receivable reconciliation, improves cash flow, and ensures accurate financial reporting.
Paul Deo
Artificio.ai is helping me in rolling out global vendor invoices by integrating the Automated account payable system. It easily integrates with SAP and other ERP system. The implementation and execution went very smoothly. It improved efficiency and streamlined our Accounts process.
Petter John
The fast-invoicing system and customer support are incredible. The integration with our traditional financial system was seamless. I especially loved the quick invoicing, approvals and real-time monitoring system.
Nicky Raby
Artificio is a game-changer in the realm of accounts payable automation. With its advanced AI capabilities, it effortlessly processes invoices, automates data extraction, and streamlines approval workflows.
Say goodbye to manual errors, automate your account payable with Artificio
Make your financial operations error-free
Reduce your cost and improve compliance
FAQs
What is Artificio AI & ML platform?
Artificio AI & ML platform is an advanced artificial intelligence and machine learning-powered solution designed to automate the accounts payable process. It streamlines invoice processing, payment automation, vendor management, and reporting, providing businesses with increased efficiency and accuracy.How does Artificio AI & ML platform automate the accounts payable process?
Artificio AI & ML platform utilizes cutting-edge technologies such as OCR (Optical Character Recognition) and intelligent data capture to extract data from invoices accurately. It can automatically matches invoices with purchase orders, routes them for approval, and initiates payment processing, all while minimizing manual intervention.Can Artificio AI & ML platform integrate with our existing accounting systems?
Yes, Artificio AI & ML platform is built to seamlessly integrate with various accounting systems, ERPs (Enterprise Resource Planning), and other software. This ensures smooth data flow, eliminates the need for manual data entry, and maintains consistency across systems.How does Artificio AI & ML platform handle invoice exceptions or discrepancies?
Artificio AI & ML platform includes intelligent exception handling capabilities. When discrepancies or exceptions arise, the platform identifies them and routes them to the appropriate stakeholders for resolution and approval. This ensures that issues are addressed promptly, minimizing delays in the accounts payable process.Is Artificio AI & ML platform scalable for growing businesses?
Absolutely. Artificio AI & ML platform is designed to scale with your business needs. It can handle increasing invoice volumes and accommodate the growth of your organization without requiring additional resources. The platform is flexible and adaptable to support businesses of all sizes.How does Artificio AI & ML platform enhance vendor or supplier management?
Artificio AI & ML platform offers vendor or supplier management AI driven applications created by user such as vendor portals and self-service options. Vendors can access the platform to view invoice status, payment details, and communicate with your accounts payable team. This transparency improves vendor relationships and reduces inquiries.Does Artificio AI & ML platform provide analytics and reporting capabilities?
Yes, Artificio AI & ML platform includes robust analytics and reporting functionalities. It offers real-time dashboards, customizable reports, and key performance indicators (KPIs) to provide insights into accounts payable operations. This data empowers you to make informed decisions and optimize your financial processes.How secure is Artificio AI & ML platform for handling sensitive financial information?
Artificio AI & ML platform prioritizes the security of your data. It employs encryption techniques, access controls, and adheres to industry-standard security protocols. The platform complies with relevant regulations such as GDPR and HIPAA and hosted on Google cloud containers, ensuring the confidentiality and integrity of your financial information.What kind of support and training does Artificio AI & ML platform offer?
Artificio AI & ML platform provides comprehensive support and training resources. This includes onboarding assistance, user guides, and ongoing customer support to help you maximize the value of the platform. Training sessions can be arranged to ensure your team is well-equipped to utilize the solution effectively.How can I get started with Artificio AI & ML platform?
To get started with Artificio AI & ML platform, you can request a demo or consultation through our website. Our team will guide you through the implementation process, discuss your specific requirements, and tailor the solution to meet your business needs.Why shall I go for AP Automation?
AP automation comes with a bundle of features that makes the business more efficient such as data capture, Invoice separation, approval control, Etc. This makes the workflow seamless by automating everything with a click of a button.What automation can we bring into Account Payable system?
AP system automation means the induction of technology that eliminates manual tasks like Data entry, manual invoicing, matching and many more.How AP automation works at Artificio.ai?
Our algorithm is the formation of a 5-tier configuration namely Importer, Classifier, Exporter, Validator and Integrator. The import of structured and unstructured data takes place, classifies itself into segments and then exports to the needed juncture. Further, the information validates by machine learning. Finally, it integrates with the Interface to show the result.