Delivering the Means to Optimize Your Accounts Payable Teams

Surely, the human mind is capable of doing a lot, and yet there remains an awful little that it does better than growing on a consistent basis. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.

Vic.ai, the leading AI autonomous finance platform, has officially launched a brand new solution named Vic.ai Payments, which is designed to provide an end-to-end solution for Accounts Payable (AP) teams. According to certain reports, the stated solution comes decked up with an ability to reduce risk and improve cash flow, and it does so by integrating all components of AP processing, from invoice to payment, into a single end-to-end system. Another detail worth a mention about this system happens to be that it is powered on the back of industry’s most advanced artificial intelligence (AI). As for some granular level features one can expect to hit the deck here, we begin from Vic.ai Payments’ utterly simplified experience. You see, the users can seamlessly leverage virtual cards to make payments and take advantage of rebates and avail vendor discounts. They can also choose to make partial payments, therefore enjoying the chance of holding on to cash longer to earn more interest. Next up, we must dig into the solution vendor relationship management capabilities, capabilities that include looking over onboarding and payment optimizations for customers based on vendor preferences and industry best practices. In case the whole value proposition is still not attractive enough for you, then it might be worth digging into how Vic.ai’s integrations with major ERPs further reduces workload for AP and IT employees alike. Such a feature has the potential to benefit vendors with greater convenience, speed, and sustainability of electronic payments.

“Our customers wanted a solution that not only autonomously ingested, processed, and approved invoices, but also enabled one-click payments. And with Vic.ai Payments, we have delivered,” said Alexander Hagerup, co-founder and CEO of Vic.ai. “We’re thrilled to continue helping our customers gain control over their cash flow throughout their invoice processing journey, turning their AP departments into profit centers and taking them another step closer to autonomous finance.”

The development in question follows up on Vic.ai’s recent decision to enhance its proprietary AI technology. By doing so, the company was able to bolster accuracy and deliver best-in-class predictions for every customer. The update would build upon the system’s existing knowhow in regards to supporting AP teams to process and approve invoices requiring less human oversight, less time, and with fewer errors than ever before. To give you a statistical lowdown, Vic.ai has so far saved its corporate finance and accounting clients more than $188 million and six million hours worth of time. These figures, like you can guess, should only become better under Vic.ai’s tutelage. Contextualizing the significance of such a product is a report, which claimed that despite 64% anticipating autonomous finance will soon become the norm, finance leaders today are faced with an antiquated, inefficient, and often a perilous payment reality.

“Our core is in recognizing and nurturing potential. In our quest for progress and in championing resilient founders, our collaboration with Vic.ai stands out. Their dedication to efficient and precise invoice processing mirrors our own commitment to excellence. We are excited to further streamline our operations with the introduction of Payments.” said Bjarne Abrahamsen, CFO of Antler.

Founded in 2017, Vic.ai’s rise to prominence is largely orchestrated by the way it has transformed the traditional accounting and financial procedure to improve overall efficiency, decision-making, and ROI. The company’s excellence in what it does can be validated from its success around processing more than half a billion invoices at a nearly 99% accuracy rate. This is a big reason why Vic.ai has served more than 10,000 customers till date.