The evolution of accounts payable

How AI technologies and automation are revolutionising the industry

In today’s business world, the terms “artificial intelligence” and “automation” are ubiquitous, but their mention doesn’t always evoke exclusively positive associations. Some are concerned that the use of this type of technology could lead to job losses or loss of control over critical business processes. At the same time, there are companies that are ready to seize the opportunities immediately and implement these innovations in order to benefit from the many advantages. 

However, it is precisely in the area of financial accounting that companies face the challenge of optimising their processes and minimising manual tasks. This is where AI technologies and automation can be the solution. In this blog post, we take a look at how AI technologies are changing the way companies manage their accounts payable.

Automation as a key concept

Automation of processes has become a key concept in the business world, and accounts payable is no exception. By using AI technologies, repetitive and time-consuming tasks are automated, freeing up resources and minimising human error.

The role of AI technologies

Artificial intelligence (AI) plays a crucial role in this change. Through machine learning and intelligent data processing, AI can identify different document types, extract relevant information and even recognise complex patterns. This enables more accurate and efficient processing of vendor invoices, supplier contracts and other relevant documents.

Focus on IDP (Intelligent Document Processing)

Intelligent Document Processing (IDP) is at the centre of this development. IDP uses AI to intelligently process documents and automatically integrate them into the accounting workflow. This advanced technology not only improves the speed but also the accuracy of processing.

DocBits: The future of document processing

To support organisations in this transformation, we proudly present our solution: DocBits. At the forefront of intelligent document processing, DocBits offers an automated approach to accounts payable document management.

With seamless integration into the Infor system or other existing systems, DocBits offers an end-to-end solution for validating, archiving and exporting data. The special feature of DocBits lies in its ability to be trained from the outset thanks to advanced AI and to adapt to different document types. This maximises not only the efficiency but also the accuracy of document processing.

Overall, DocBits marks a milestone in accounts payable by enabling organisations to eliminate time-consuming manual processes and rely on an efficient, accurate and future-proof solution. If you want to revolutionise the way your company manages documents, DocBits is the answer to your needs.

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accounts payable

The evolution of accounts payable

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