Botkeeper, Vic.ai Partner for smarter AP | MCUTimes

Botkeeper, Vic.ai Partner for smarter AP

Machine learning (ML) -powered accounting solution Botholder has merged with artificial intelligence (AI) accounting platform Vic.ai to provide auditors and audit firms with “a comprehensive, faster, more intelligent and advanced solution for autonomous payments (AP)” per Tuesday (July 27) Press release.

The two companies say that this tool will be integrated with the customer ledger (GL) and billing systems, all within the Botkeeper operating system.

“Integrating Vic.ai into the Botkeeper operating system provides auditors with improved autonomous invoice processing and real-time insight,” according to the press release. “The combination of Botkeeper and Vic.ai will bring the largest source of data together on a progressively smarter platform that removes burdensome and manual tasks from an accountant’s daily activities.”

The companies said that the Vic.ai module enables the processing of invoices without the need for data entry or classification.

“This includes everything from vendor identification to cost and dimension classifications at line item level,” the release said.

The companies say their overall approach will help auditors become more AI-driven, leading to time savings, a reduction in errors and duplications, and efficient approval processes.

“Bothholder’s approach to automated bookkeeping and accounting encourages open and connected systems to generate exponential value,” said John Barnes, Product Manager at Botkeeper. “Integration with the Vic.ai autonomous invoice processing module will continue to streamline the overall accounting process and enable greater insight for auditors and their clients.”

Earlier this year, Botkeeper rolled out one new pricing model aimed at to make their product more accessible to smaller accounting firms so that they can introduce fixed or subscription-based products to their customers.

“We’ve talked to so many small companies who want to take the plunge to implement automation in their practices,” says the Botkeeper Chief Financial Officer. Edward Shaughnessy said at the time. “We decided to go back to the drawing board at our prices and see what we could do to help.”

———————————

LIVE PYMNTS TV: LESSONS IN LOCAL LOYALTY, US EDITION – THURSDAY AT 12 (ET)

About: Communities are rallying in times of crisis like the recent catastrophe that is now fading – but leaving a decimated pool of small and medium-sized enterprises (SMEs) in the wake. PYMNTS research shows that consumers now more than ever want to support Main Street stores, mainly out of hometown altruism, but they expect something good in return: top-class loyalty experiences. What’s more, 139 million US consumers believe that SMEs should outsource these programs to experts who know how to do it on a large scale. Set PYMNTS TV as CEO Karen Webster is joined by SBA Administrator Isabella Casillas Guzman, NFIB CEO Research Holly Wade and TD Bank Chief Small Business Specialist Jeff Fazio as they read through the data and put a great opportunity for small businesses.

Disclaimers for mcutimes.com

All the information on this website - https://mcutimes.com - is published in good faith and for general information purpose only. mcutimes.com does not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the information you find on this website (mcutimes.com), is strictly at your own risk. mcutimes.com will not be liable for any losses and/or damages in connection with the use of our website.

Leave a Comment