Accounting AI solution empowers cloud-based accounting firm through faster invoice processing

As the industry leader in Accounting as a Service for venture-backed startups, Countsy has provided countless companies, including Asana, Instagram, Intercom and Doordash, with a unique combination of on-demand CFOs, outsourced services and streamlined technologies. Freeing CEOs from back-office management allows founders and executives to focus on what matters most: delighting customers, perfecting solutions, and accelerating growth.

• Industry: Accounting
• HQ: San Francisco, California
• Accounting / Finance Systems: Bill.com, Expensify, and NetSuite (Countsy is NetSuite’s 2019, 2020, and 2021 BPO Partner of the Year)

The challenge with accounts payable

As a technology-driven accounting firm that has provided a streamlined, cloud-based accounting solution to hundreds of high-growth companies around the U.S., Countsy saw an opportunity to improve its accounts payable (AP) solution. 

As part of its on-demand, startup CFO and outsourced accounting program, Countsy manages outsourced AP for most of its clients. These clients range from companies that have a few dozen invoices a month that need to be processed, approved, and paid, to companies with several hundreds of invoices each month. 

While already highly digitized, Countsy’s existing solution still required human intervention: many many hours per month were spent just manually coding invoices. The company was also looking to improve the solution’s ability to read invoices, increase accuracy and data reliability and improve predictions based on cost and general ledger (GL) accounts.

Back-office tasks can often bog leaders of growing businesses down due to their manually intensive nature. To better serve its customers who are looking to accelerate growth and scale, Countsy was in search of an intelligent, deeply automated solution that would free up its accountants to provide clients with a higher touch.

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Our solution: autonomy and intelligence

Processing all of their client accounts payable invoices is a critical part of Countsy’s accounting services. Therefore, best-in-class AP processing is something they sought to sustain and continuously improve upon. 

With the goal of providing consultants with the tools to carry out a seamless workflow for clients, Countsy prioritizes the standardization of tools. Countsy has captured efficiencies from Vic.ai’s ability to integrate directly with Bill.com, their existing bill pay solution. When Counsty enters invoice data into Vic.ai’s system, Vic.ai automatically feeds the header and line item fields into Bill.com. 

Integrating Vic.ai with their existing tech-stack and accounting workflow was critical to continue streamlining the process. Access the complete case study to learn about the full solution and astounding results.

Would you like to start your finance transformation journey today? Schedule a call with Vic.ai!