Zycus Launches AI-Driven AP Automation Bots to Reduce Your Accounts Payable Costs by 50%
Christened ‘Merlin for A.P.’, these artificially intelligent bots are designed to take the drudgery out of accounts payable operations.
Zycus, a global leader in A.I. driven Source-to-Pay software solutions, extends its plug-and-play A.I. capabilities to the far end of the procurement cycle, better known as ‘Accounts Payable (A.P.) Operations’.
“We saw a perfect fit for our A.I. expertise in the technologically challenged accounts payable operations and created independent A.P. bots for multiple use cases in the invoice-to-pay cycle.”
Designed to work hand-in-glove with the Zycus P2P Suite, or with any back-end ERP system or AP platform, Zycus’ artificially intelligent A.P. bots make use of self-learning capabilities, Natural Language Process (NLP) and Optical Character Recognition (OCR) in altogether new ways. They guarantee upwards of 95% accuracy in invoice data extraction, supplier inquiry management, and invoice processing.
Richard Waugh, Vice President- Corporate development shares, “We saw a perfect fit for our A.I. expertise in the technologically challenged accounts payable operations and created independent A.P. bots for multiple use cases in the invoice-to-pay cycle.”
Zycus’ stack of AP Artificial Intelligence bots now consists of: An A.P. Inbox Manager bot, an Invoice reader bot, a Fraud Detection bot, a Cost Allocation bot, a Duplicate Detection bot, along with on-cloud eInvoicing Solution and Supplier Portal for collaboration to achieve end-to-end touchless invoice processing.
Bikash Mohanty, Director Product Management adds, “Our invoice reader beats the leading OCR solutions hands-down in terms of accuracy. Merlin by Zycus understands line-level details, template variations and remembers on-the-fly revisions. We commit 95% accuracy on the contract. That’s unheard of.”