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The future of accounting runs on AI
Basic automation, such as optical character recognition (OCR) and robotic process automation (RPA), are limited in handling complex and variable data typically found in accounts payable (AP) processes, and no longer meet the needs of today’s team.
OCR can accurately capture basic invoice details but struggles with nuanced interpretations and missing information, such as matching invoices to purchase orders without explicit identifiers. Also, RPA relies on predefined rules and lacks the adaptability to handle exceptions or learn from new data.
In contrast, artificial intelligence (AI) can process massive sets of data quickly, with predictive capabilities and continuous learning models, making it more effective in managing the daily complexities of invoice processing with greater accuracy and efficiency.
Vic.ai uses proprietary, purpose-built AI algorithms and models to take basic automation to an advanced level. It can manage invoice processing at bill pay with over 99 percent accuracy, without human interference. The Vic.ai platform is helping finance leaders set the foundation for an autonomous operation.
You don’t need a bigger team — just smarter software
Vic.ai is the leading solution for invoice processing and bill pay, and our AI-first platform is uniquely positioned to transform Accounts Payable:
Proprietary AI
- Trained on over a billion invoices for highly reliable predictions.
- Goes beyond capturing invoice details like number, date, and amount; it makes predictive coding decisions that usually require human judgment.
- The platform trains with your company’s historical data and learns to process invoices your way.
- The AI continues to learn over time with a feedback loop that enhances accuracy and confidence each time a user reviews and adjusts an invoice.
Hands-Free Accounting with Autopilot
- Autopilot can be turned on to fully automate AP invoice processing without human intervention.
- Invoices with high confidence rates are flagged as ideal candidates for autonomous processing through Autopilot.
- Vic.ai Analytics tracks performance and operational metrics to help you decide when to turn on Autopilot for hands-free invoice processing.
Backed by Data Scientists and Notable Investors
- A dedicated team of data scientists is constantly developing and fine-tuning the AI models in Vic.ai. The Vic.ai team continuously works to push the boundaries of AI technology to support customer success, and the data team has been recognized by organizations such as NASA and Kaggle.
- Vic.ai has a robust product roadmap influenced by customer use, with a heavy investment in ongoing innovation to add more features and functionality.
- Vic.ai is backed by notable investors, including Notable Capital (formerly GGV Capital), ICONIQ Growth, Cowboy Ventures, and Costanoa Ventures.
Vic.ai by the numbers
The proof is in the performance. Vic.ai customers spend less time, have fewer errors, see more effective approvals, and benefit from seamless ERP integrations. It’s a win-win for finance and accounting teams everywhere.
99% overall accuracy
5x faster invoice processing
85% no-touch rate by month 6
7-month payback period on Vic.ai
Oversee multiple entities with ease
83% fewer duplicate payments
100% of early-pay discounts captured
Eliminates payment processing fees
Faster, more effective fraud detection
Quick, seamless integration with existing tech stack
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HSB Real Estate
“We constantly look for ways to improve our operations and we see AI as a path to a more robust finance organization. We are excited to push the envelope on autonomous PO matching in partnership with Vic.ai. It presents us with a great opportunity to incorporate AI into our business and augment our decision-making.”
Conor Clair, Senior Finance Manager of Accounting
HSB Real Estate
"AI is changing the lives of our employees and how our business works. We saved more than 60,000 hours in year one by automating manual invoice processing with Vic.ai, even while deploying the technology throughout our regional entities."
Fredrik Wiktor, Application Management Lead
HSB Real Estate
"As a data-driven company, we rely on precise and actionable insights to make informed decisions that drive our business forward. Vic.ai's comprehensive analytics align seamlessly with our approach, enhancing our ability to monitor platform and team performance, optimize resources, and ultimately, lead the charge towards a sustainable and accessible air travel future with our ES-30 electric planes."
Alexander Andrén, CFO
HSB Real Estate
“Our complicated invoice approvals process was impeding everyone involved – from the administrators at our schools to the AP clerks at our headquarters. Routing approvals is now an easy process. Our AP team is no longer struggling to get invoices approved on time and leadership loves being able to compare previous bills on the go with the Vic.ai mobile app.”
Rachel Knapp, VP, Financial and Accounting Systems
HSB Real Estate
"Partnering with Vic.ai will revolutionize our Accounts Payable operations and allows us to move beyond automation to having multiple workflows handled autonomously by AI. We look forward to seeing significant improvements in efficiency, accuracy, and cost savings."
Patrik Berglund, Head of Finance Operations
HSB Real Estate
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"We are a company with grand growth ambitions. It requires us to grow smartly and always keep profitability top of mind. By using innovative and leading technology, we can reduce costs while simultaneously ensuring efficiency and quality in our accounting processes. Vic.ai has the best solution on the market and we are excited to work together."
Trine Lise Marsdal, CFO
HSB Real Estate
"It is rare that a product lives 100% up to its expectation, but Vic.ai does just that. Simply put, it works, it streamlines the AP process, dramatically improves accuracy, and saves time all across the AP process."
David Bier, COO