New AI features make manual bill coding a thing of the past
Routable, the leading accounts payable automation platform, announces its newest AI features, following the Sage Future conference in Atlanta: predictive bill coding. This feature expands on Routable’s robust invoice automation solutions for an end-to-end invoice processing experience.
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“The promise of OCR has long been unfulfilled, leaving finance and accounting professionals feeling discouraged. With the latest advances in AI and machine learning, Routable is able to not only deliver on that promise, but also take it further,” said Omri Mor, CEO and Co-founder of Routable. “Predictive coding revolutionizes how AP teams process bills, shifting the work from manual data entry to review for a near touchless experience.”
“The promise of OCR has long been unfulfilled, leaving finance and accounting professionals feeling discouraged. With the latest advances in AI and machine learning, Routable is able to not only deliver on that promise, but also take it further,” said Omri Mor, CEO and Co-founder of Routable.
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Routable’s Purchase Order (PO) matching solution already inherits PO codes for a touchless invoice coding process. For non-PO backed invoices, Routable will now leverage machine learning to predict codes for the invoice, even at the line item level. Accounts Payable professionals simply upload an invoice, check that codes are accurate, and save the bill.
If any coding is incorrect, the AP team can make corrections, and the system will learn from those adjustments to improve future predictions. Additionally, if the OCR misreads any invoice details, the team can retrain it, helping the system become more accurate over time.
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Predictive coding is just the latest AI-powered innovation from Routable. Routable previously announced invoice fraud prevention, which uses machine learning and generative AI to detect invoice fraud.
“As we move into a new era of work, I’m constantly looking for partners who think ahead,” commented Brandt Kucharski, CAO at Ethos. “Routable continuously pushes the innovation envelope, and the newest AI features are no exception. Predictive coding picks up where OCR leaves off, for a fully automated invoice capture and processing experience.”
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Source: prweb
