Invoice Capture just got even smarter with AI

July 2024 - Proactis, the leading Source-to-Pay software solution provider, is excited to announce that it has added machine learning capabilities to its already powerful Invoice Capture solution. Using AI to extract data from invoices, our most advanced invoice capture solution yet drives even greater efficiency and accuracy, minimizing duplication, errors and further reducing the need for manual intervention throughout the AP automation process.

The solution can capture invoices and convert non electronic data (paper and PDFs) into truly electronic invoices, validating the accuracy by checking for a PO, duplicates and a valid supplier, and then seamlessly transfer them into a finance system for matching and payment approval. The fully automated software offers efficient invoice management which enables complete audit visibility, stronger compliance and fast query resolution.

Leveraging best-in-class Microsoft AI and ML technologies, Proactis' best extraction engine yet, combined with the innovative query desk capability, means Proactis now provides unrivalled extraction and query resolution processes that fully support "No PO, No Pay" best practices and enables supplier resolution to drive optimal efficiency with the receipt and entry of invoices – ultimately making invoice processing more efficient, more accurate, and faster.

"We are really excited about launching our new capabilities because of the positive impact it will have on our customers. This innovation is part of the key technology investment themes that we outlined at ReThink earlier this year to help users become more productive through Applied Intelligence. By combining our market-leading and proven solution with new AI and machine learning capabilities, we are very excited about launching the most advanced and powerful invoice capture solution on the market. We are now providing customers with the next generation invoice processing capabilities to help support and drive their business goals in the current and future business and economic environments,” says Proactis CPTO, Toby Davidson.

Invoice Capture AI forms part of Proactis’ wider AI strategy, having launched its new IPaaS earlier this year to help Finance and Procurement teams maximize their time by speeding up integrations between their Source-to-Pay and wider technology stacks, and with Proactis Rego Cai coming soon to speed up and improve the accuracy of coding transactions and therefore minimizing the risk of error and reducing the manual effort involved.

Toby concluded “We’re delivering some powerful innovations that are creating a new breed of Source-to-Pay technology – that’s simple and intuitive to use, provides access to valuable insights and puts our customers in full control of their Source-to-Pay processes. Keep watching this space.”

Read more about Proactis AI here.
Read more about Proactis Invoice Capture AI here.

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Robyn Hatton: [email protected]