Artificial intelligence (AI) enables accounts payable organizations to automate routine invoice processing tasks (invoice entry, coding, matching, etc.), and reduce the “busy work” required to confirm an invoice is OK to pay. AI-enabled accounts payable invoice processes can also perform very complex and detail-oriented tasks, such as monitoring invoices and payments for fraud. Transactions are monitored by the AI on a 24x7 basis and quickly flagged if they need further processing by someone in AP.
Machine learning can add another layer of intelligence and automation to your AP workflows. It can streamline tasks by learning what the next-best step would be in a workflow based on past user behavior. It is capable of building these intelligent process chains independently and does not require users to configure complex business rules to drive the correct behavior.
AI-enabled accounts payable invoice processes help increase efficiency and lower processing costs, because they take away cumbersome manual work and give AP users more time to work on the complex and strategic tasks that require their attention.