Artificial Intelligence (AI) Solutions for Accounts Payable

Artificial intelligence or AI is all the buzz.  The technology is an integral part of: 

  • Smart home devices
  • Medical kiosks
  • Self-driving cards
  • Robot butlers
  • Traffic light control
  • More!

 

Artificial intelligence also is a key component of Productivity Wrx℠, the next-generation IPS digital transformation platform for accounts payable automation that is delivered as a service. 

Productivity Wrx℠ can use artificial intelligence to:

  • Recognize documents such as invoices
  • Understand tasks such as business rules for workflow routing
  • Monitor business processes such as invoice receipt
  • Analyze data sets and patterns such as suspicious payment activity
  • Mine information such as spend and exceptions per supplier

 

The artificial intelligence capabilities within Productivity Wrx℠ enables accounts payable management to reduce costs, accelerate cycle times, decrease errors and improve transparency and agility.  

Best of all, the accounts payable process in any industry can benefit

from artificial intelligence:

 

  • Media payables
  • Financial payables
  • Hospital payables
  • Pharmaceutical payables
  • Insurance payables
  • More!

 

It is for these reasons that 19 percent of IOFM members predict that artificial intelligence will be one of the most important technologies to the future of the accounts payable profession.

 

IPS agrees.  And that’s why artificial intelligence is a big part of our product development roadmap! 

See for yourself how IPS Productivity Wrx℠ is leveraging artificial intelligence for accounts payable. Contact Us today!