Presented at INFOCUS 2024

Session ID: P-049820

In today’s rapidly evolving business landscape, Accounts Payable (AP) departments are facing increasing pressure to optimize operations, reduce errors, and improve financial control. Traditional AP processes, characterized by manual data entry, invoice processing, and payment approvals, are often time-consuming, error-prone, and resource-intensive. This session explores the transformative potential of Artificial Intelligence (AI) in automating AP workflows, highlighting how AI-driven solutions can streamline invoice processing, enhance accuracy, and expedite payment cycles.

AI technologies such as Optical Character Recognition (OCR), Natural Language Processing (NLP), and Machine Learning (ML) are at the forefront of AP automation. These technologies enable automated data extraction from invoices, intelligent matching of purchase orders, invoices, and payments, and predictive analytics for cash flow management. By reducing manual intervention, AI-powered AP automation not only cuts down on processing time and costs but also minimizes the risk of fraud and compliance errors.

This session is eligible for NASBA credit.

Speakers: Anthony Forte & Rajan Kaistha