New fraud prevention offering leverages AI to detect invoice anomalies, human error
Routable, the leading accounts payable automation platform, today announced a groundbreaking innovation: AI agents that prevent external invoice fraud.
“Invoice fraud costs the average company more than $1M a year,” said Routable CEO and CoFounder, Omri Mor. “As fraudsters get more creative, it’s become impossible for humans to keep up. Routable’s newest offering uses the power of AI to detect and prevent both invoice fraud and human error – giving AP teams superhuman visibility to protect the business.”
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Routable’s AP automation platform will now incorporate machine learning and generative AI to detect invoice anomalies, duplicate invoices, and human data entry errors. The platform’s OCR scans invoices to create bills that are either automatically matched to a PO or predictively coded based on machine learning and historic data.
While processing the invoice, the AI agents scan the document for anomalies and errors, alerting AP teams to anything questionable and preventing fraud and error before it happens.
“Most people think AI is coming for the offshore talent, the data entry clerks, and the analysts – workers performing the most mundane, though critical, jobs,” Mor continued. “That’s because most current AI solutions are coming for the $50,000 jobs. But we believe the opposite at Routable. AI has the power to help you do something humans can’t do, something previously impossible. We’re excited to help businesses achieve the impossible.”
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