AI-powered automation helps your team reduce manual work, improve accuracy, and make faster decisions—while keeping people in control.
AvidXchange embeds AI throughout the accounts payable lifecycle to help finance teams capture invoices faster, strengthen financial controls, and optimize payments. Backed by more than 25 years of AP expertise, our AI-powered capabilities continuously learn from your business while keeping your team in control of every decision.
Benefits of Accounts Payable with AI
Tackle 100% of your invoices with AvidXchange AI’s industry-leading accuracy. Our extensive experience, processing millions of invoices monthly across our customer network, enables us to deliver the highest level of performance. Maximize your ROI and save your team valuable time by ensuring all your invoices are processed.
Our AI is driven by a purpose-built algorithm, meticulously trained on millions of invoices to ensure exceptional accuracy. We quickly and automatically scan and extract invoice data, which is then validated by our expert indexing services. With human oversight for quality assurance, our AI model continuously learns, consistently achieving an accuracy rate of 99%+
Even the most efficient workflows can be disrupted by exceptions caused by missing or incorrect data. AvidXchange AI continuously learns from previous invoices, recognizing patterns like location-specific account codes and applying them to future invoices. This significantly reduces exceptions, freeing up valuable time and resources for more value-added tasks.
Manually entering invoice line items is a tedious, error-prone task, especially when invoices contain up to one hundred line items. This process often leads to reconciliation issues later in the payables workflow. Simply log into your AvidXchange Invoice portal to see line-item details automatically captured and populated for your review.
AI helps match invoice and purchase order line items, highlighting potential discrepancies while keeping your team in control of final approval. The AI Approval Agent draws on your historical approval data to deliver informed recommendations, streamlining invoice processing and helping your team move faster with greater confidence.
AI enhances payment performance by optimizing payment operations, starting with data extracted directly from the invoice. After approval, it also handles virtual card execution, speeding up payments while eliminating keying errors and manual entry that could delay payments and impact cash flow.
Generative AI reduces complex payment interactions, like navigating intricate phone menus, entering information correctly when prompted, and waiting for payment confirmation before disconnecting. This advanced capability delivers payments to your suppliers faster, reduces payment status inquiries, and eliminates keying errors that could delay payments and tie up your cash flow.
Enhance productivity by allowing your team to interact with our AI capabilities using everyday language. Ask about the status of a specific payment or gain insights like, “Who were my largest suppliers in March?” With faster data retrieval, finance teams spend less time searching for information and more time on strategic, higher-value activities.
Our AI-enabled fraud platform detects anomalous behavior in real time for continuous fraud rule optimization. It leverages industry-leading technology to constantly monitor behavior and transaction patterns, evaluating rule performance to improve fraud detection and reduce false positives.
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