Artificial intelligence – moving towards touchless accounts payable?

Artifical intelligence in accounts payable │ Palette Software

Will AI be used in every company?

In the future, artificial intelligence (AI) will be used in every company. Organizations from all sectors will automate a vast range of tasks using machine learning algorithms. AI chatbots will be on hand to respond to queries and speed up processes. According to recent research conducted by Forrester, 89% of organizations plan to implement AI in supply chain and procurement processes over the next two years.

Artificial intelligence in the Finance department

One area in which AI is expected to deliver significant value is in the finance department. The Institute of Chartered Accountants in England and Wales has said that AI will bring improvements in three areas:

  • Providing better and cheaper data to support decision-making
  • Generating new insights from data analysis
  • Freeing up time to focus on more valuable tasks such as decision-making, strategy development, relationship building and leadership

Can AI already add value to your business?

The use and capabilities of artificial intelligence will only increase, but it can already deliver some of these improvements today. One of the key areas where it can already add significant value is in accounts payable (AP).

In this paper, we will show the value that AI can bring to the AP department today, and why organizations must embrace its use to enjoy these gains. We will explain different levels of automation such as Robotic Process Automation (RPA) and marchine learning, as well as future possibilities with this new technology.

Download our guide

Submit your details below to receive this free of charge guide about how artificial intelligence can add value in the finance department.

Artificial intelligence: download the guide

Submit your name and email address, to access this whitepaper, which is free of charge. A link to the guide will be sent by email to you.

  • This field is for validation purposes and should be left unchanged.

Are you ready to take the next step?

Let us know what problem are you looking to solve.