Routable has launched an advanced accounts payable automation platform that harnesses the power of AI to combat increasing invoice fraud and human errors. By utilizing machine learning and generative AI, the platform detects invoice anomalies and duplicate entries, ensuring accurate processing. Its intelligent OCR technology scans invoices and matches them automatically to purchase orders or codes them based on historical data. This proactive approach alerts finance teams to any suspicious activity, preventing fraud before it occurs. Routable’s solution streamlines the entire AP process, saving time and reducing manual tasks by 80%, allowing finance teams to focus on more impactful work while ensuring compliance and minimizing risks.
Routable Innovates Accounts Payable Management with AI
As fraudsters evolve their tactics, companies face increasing challenges in keeping their finances secure. Routable, a leader in accounts payable (AP) automation, has stepped up with a new artificial intelligence (AI) solution designed to help businesses fight against invoice fraud and human error. With this cutting-edge technology, AP teams gain enhanced visibility and can protect their companies more effectively.
Routable’s AP automation platform now integrates machine learning and generative AI to spot invoice discrepancies. This smart system can identify duplicate invoices and human data entry mistakes before they become problems. Using optical character recognition (OCR), the platform scans invoices to generate bills, which can be automatically matched to purchase orders or intelligently coded based on previous data.
While processing an invoice, Routable’s AI tools examine the document for any issues, advising AP teams of irregularities and helping to avert fraud or errors early in the process. As Mor, a spokesperson from Routable, mentions, “AI isn’t just about replacing roles. It empowers teams to do tasks that humans couldn’t manage alone, scaling their capabilities to new heights.”
About Routable
Routable’s platform is designed to streamline the AP process, enabling finance teams to focus on strategic activities rather than tedious tasks. Their technology reduces manual payment processes by a staggering 80%. It also supports complex requirements through robust ERP integrations and configurable approval workflows. With efficient vendor management and compliance features, Routable offers a comprehensive solution for modern financial needs, boasting an average savings of 30%.
For companies looking to enhance their accounts payable functions and combat fraud effectively, Routable’s innovative AI solutions appear to be a game-changer.
Media Contact
Nicole Lindenbaum
Routable
1 (855) 800-5666
[email protected]
routable.com
Tags: Routable, AI in accounts payable, invoice fraud prevention, AP automation, financial technology
FAQ about Routable’s AI Agents for Accounts Payable Fraud Prevention
What are Routable’s AI agents used for?
Routable’s AI agents help prevent fraud in accounts payable and assist with forensic accounting. They analyze transactions to spot suspicious activities and protect businesses from financial loss.
How do these AI agents work?
The AI agents use advanced algorithms to monitor transactions in real-time. They look for patterns that might indicate fraud and alert users if something doesn’t seem right.
Can small businesses benefit from these AI agents?
Yes, small businesses can greatly benefit from these AI agents. By using this technology, they can safeguard their finances without needing a large team of accountants.
Do I need to have technology expertise to use these AI agents?
Not at all! Routable’s AI agents are user-friendly. You don’t need special technical skills to use them, as they are designed to be straightforward and easy to navigate.
Are the AI agents cost-effective?
Yes, Routable’s AI agents can save businesses money in the long run by preventing fraud and reducing the risk of losses. This means they can be a smart investment for many companies looking to protect their finances.
