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Proactis enhances its Invoice Capture solution with AI

Wednesday 10th July, 2024

Proactis has announce that it has added machine learning capabilities to its already powerful Invoice Capture solution. Using AI to extract data from invoices, the company's most advanced invoice capture solution yet drives even greater efficiency and accuracy, minimising 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.

"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 maximise 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 minimising 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.”

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Avalara

Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, eCommerce and other financial management system providers, Avalara delivers cloudbased compliance solutions for various transactional taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in Canada, the U.K., Belgium, Brazil, and India.