New Suite of Analytics Packages Offer Advanced Tracking for Productivity and Accuracy of End-to-End Invoice Processing
Vic.ai, the leading autonomous finance platform, debuts three new analytics packages tailored for the needs of Accounts Payable (AP) professionals and finance leaders. With the release of Standard, Advanced, and Premium Analytics packages, customers will now be equipped with the insights they need to drive better business outcomes, from monitoring the performance of their organization against core KPIs to measuring improvements in team productivity as a result of their optimized AP workflows.
“Our new analytics packages harness the transformative power of AI to bring unprecedented transparency and efficiency to accounting processes. This launch marks a significant milestone in our commitment to delivering tangible value to our customers, empowering them to make more informed, data-driven decisions. With these tools, we’re not just enhancing operations; we’re setting a new standard for what AI can achieve in the financial sector,” says Alexander Hagerup, co-founder and CEO of Vic.ai.
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Each package is designed to support customers along their autonomous finance journey:
- Standard Analytics:Â Customers can measure the performance of their Vic.ai implementation and track AI learning and improvement over time. They can also monitor monthly invoice volume, accuracy rates, no-touch rates, and automation rates.
- Advanced Analytics:Â Building on Standard Analytics, customers can also access metrics to monitor the performance of the AP team, approvers, and vendors with reports on team efficiencies, approvals, and PO matching. Finance leaders gain access to executive reports including tracking the financial return on their Vic.ai investment, AI performance, payment information, such as status and early payment discounts capture rate, as well as Autopilot enablement. Customers can also speed up the monthly close with invoice audit reports and downloadable performance reports.
- Premium Analytics:Â This tier includes everything in Advanced Analytics, as well as speed and velocity metrics to accelerate business performance and workflows. This package also includes custom reports and access to raw data files that can be exported and merged with proprietary data for bespoke analytics.
This release represents an evolution in Vic.ai analytics capabilities and includes a myriad of customer use cases consolidated into easily consumable reports and dashboards for broader use. With enhanced analytics, Vic.ai customers now can:
- Go fully autonomous:Â AI performance monitoring provides oversight and confidence for customers to turn on the Autopilot feature for fully autonomous invoice processing from ingestion, to coding, and through approvals.
- Eliminate AP bottlenecks:Â Monitor AP team member processing time, review approval queues by approver, and view which vendor invoices require the most attention.
- Improve AP workflows:Â Review overall invoice age on platform to pinpoint where handoffs and processes can be streamlined.
- Speed up end-of-month, quarter, or yearly close:Â Export audit reports and accruals in minutes to keep bookkeeping up to date and tidy.
Vic.ai is committed to supporting customers’ growth aspirations, and the expanded analytics packages offer multiple features and functionality to meet their varying needs.
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