‍The opportunity

As a leading general contracting company specializing in building, energy, infrastructure, and mining markets, BHI has grown significantly over its 25 years in business. This growth has made it challenging for the accounts payable (AP) staff to keep up with associated invoice volume growth and payments. In the construction industry, revenue recognition occurs as expenses are paid, so invoices must be paid on time for the correct amount and material and for the right project and phase. This results in multiple touches per invoice, which can increase processing time up to 15 minutes for some invoices. BHI needed a solution to modernize their invoices processing, PO matching, and approvals process — providing extreme accuracy and time savings for the AP team and approvers across the organization. 

The solution

BHI chose Vic.ai to streamline AP operations and hyper-automate time-consuming tasks. With proprietary AI technology, Vic.ai can make highly accurate predictions to autonomously classify and code expenses to the right project. In addition, with Vic.ai’s autonomous PO matching, the team can quickly recognize costs and make payments as invoices are submitted. Vic.ai’s ability to match at the line-item level means issues can be pinpointed quickly, enabling the AP team to only spend time on invoices that require human review. 

Using Vic.ai Analytics, BHI will be able to monitor the performance of the platform and AP team and easily identify and resolve bottlenecks. They will also be able to track the ROI of their implementation in real-time. Vic.ai also seamlessly integrates with their enterprise resource planning (ERP) system, Vista, so they can continue to leverage their existing tech stack. 

“We’re excited to be partnering with Vic.ai to modernize our AP process at BHI,” said Dakota King, Director of Accounting at BHI. “Vic.ai’s platform will allow our AP team to bring in costs more quickly and accurately while the Vic.ai mobile app will make it easier for approvers and site leaders to review and approve invoices. Vic.ai will help our accounting team to keep pace with our growing business without adding additional headcount. We look forward to leveraging Vic.ai’s innovative solutions to drive our continued success in the construction industry."

Learn more about BHI.

Learn more about the Vic.ai autonomous finance platform.