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Tradeshift releases AI innovations across its platform

Tuesday 13th July, 2021

Tradeshift released a series of innovations to Ada™ a next-level artificial intelligence and machine learning layer embedded on the Tradeshift platform. Accounts payable teams using the Tradeshift® Pay solution now have access to a powerful set of tools designed to help them visualise the impact and effectiveness of Tradeshift’s payables automation capabilities compared to human-operated processes.

The latest iterations include an Automation Dashboard™ feature that measures Ada’s performance against person-led processes and offers predictive modeling showing how the technology can maximise outcomes, like gained efficiency and cost-savings. Ada’s invoice coding functionality is constantly learning from valid historical transactions - even when it is not in use - to achieve complete, accurately coded documents that are ready for approval and posting.

Understanding that most are not comfortable with fully handing over the keys to Artificial Intelligence, customers can select one of three presets; conservative, balanced, progressive. The presets are optimised to scale AI according to the customer's confidence in leveraging the technology.

Early adopters of the system have reduced manual coding interventions by an average of 60 percent, with a top-performing customer saving nearly an entire week’s worth of work (35 hours) in a single month. The company said.

“We don’t believe in building ‘black box’ technology,” says Lloyd Humphreys, Tradeshift’s principal product manager for analytics and artificial intelligence. “Trusting machine learning with something as important as ensuring your company’s suppliers get paid is not something that should be done behind a curtain. That’s why we believe that the Automation Dashboard’s transparency and ability to ease into Ada is the key to supporting exception-free payables departments and teams that can be liberated to do more meaningful work.”

“The best processes to automate are tedious, like coding invoices for a successful ERP ingestion. Even the most passionate data entry clerk would tell you there are more valuable things they could be doing with their time. Ada is the ultimate partner for payables departments looking to move up another level” says Raphael Bres, chief product officer at Tradeshift.

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