Vic.ai Named a Major Player in AP Automation by IDC for Midsized and Enterprise Markets

The Vic.ai autonomous finance platform has been named a Leader in the Small Business market and a Major Player in the Midsized and Enterprise Markets for the IDC MarketScape: Worldwide Accounts Payable Automation Software 2024 Vendor Assessment.

The International Data Corporation (IDC) is a global market intelligence, data, and events provider for the information technology, telecommunications, and consumer technology markets. The IDC MarketScape: Worldwide Accounts Payable Automation Software 2024 Vendor Assessment is an information and communication technology (ICT) industry vendor assessment tool that provides in-depth quantitative and qualitative insight on vendor strategies and capabilities to provide a balanced view for technology buyers.

The entire Vic.ai team is proud to be honored and recognized in the IDC MarketScape. Our leading autonomous finance platform helps accounts payable (AP) teams revolutionize invoice processing and bill pay with AI-first technology. With a focus on continuous improvement and technological advancement, Vic.ai aims to help finance professionals streamline operations, boost efficiency, and realize more potential every day.

This recognition marks another milestone for the Vic.ai platform and team this year. In addition to our quarterly product releases with additional features and functionality, Vic.ai has added enhancements to the platform, including the launch of reimagined Analytics packages, incorporating the latest in LLM technology into our models, AI-detected early payment discounts, and improvements to autonomous PO matching, including 4-way matching.

We've expanded our client base across various industries like construction, aerospace, manufacturing, and professional services, welcoming Pool Centurion, Aspire Technology Partners, CR England, Heart Aerospace, and BHI, among others. We've also expanded our partnership with HallKeen Management. This growth underscores Vic.ai's dedication to providing tailored AI solutions for diverse businesses.

Vic.ai excels in serving mid-sized and enterprise customers with our scalable AP solution and proprietary AI technology, offering:

• AP on Autopilot: Hands-free accounting with AI-classified invoices at header and line-item levels.
• Best-in-class ROI: Average payback period under 7 months, eliminating losses from errors, delays, missed discounts, and fraud.
• Real-world complexity management: Multi-entity management while centralizing AP operations, approval flows, and access controls.
• Proven AI performance: Trained on over 1 billion invoices, our AI comes with 97 percent out-of-the-box accuracy. Customers can directly measure AI performance in real time using Analytics.

Learn more about the Vic.ai autonomous finance platform, or take the self-guided product tour.