iplicit offers all customers AP automation
Cloud accounting platform iplicit is offering accounts payable automation to all its customers after rolling out its own AI-powered product.
The vendor’s own offering will sit alongside the system’s ability to integrate with third party AP applications such as Lightyear.
The addition of iplicit’s own AP product will give customers a choice of ways to automate time-consuming tasks and will ensure every customer has a solution to suit their needs.
iplicit's offering uses machine learning to compare incoming invoices with a user’s existing records and find suggested matches.
Paul Sparkes, Commercial Director at iplicit, said: “iplicit’s new accounts payable automation features offer another choice alongside the functionality already offered by our integrations with other vendors.
“Different customers have different needs and the construction of our own AP solution ensures that all our users can pick the right offering for them, whether that’s through us or our growing range of partners.”
Iplicit uses AI Document Intelligence technology to read invoices and seek to match each line item with a recognised supplier and purchase order. The user gets to review and agree the suggested matches before the system creates a purchase invoice, ready for approval by the budget holder.
The accuracy of the automation improves all the time as the system learns from previous matches.
In the case of multi-entity organisations, the software can apply the line items on an invoice to the correct entities in the group.
Paul Sparkes added: “iplicit’s AP automation can look at the data in an invoice, find the supplier and the relevant accounting code and the suggested match is ready straight away for a human to review.
“As well as saving large amounts of time when it’s up and running, iplicit’s AP automation can be implemented within an hour, including training.”
iplicit's award-winning finance software was created to serve organisations which had outgrown entry-level or on-premise systems but were not attracted by expensive ERP (enterprise resource management) systems.
It was named Mid-Market and Enterprise Accounting Software of the Year at the Accounting Excellence Awards the year after its launch and has twice earned gold in the Enterprise Accounting/ERP category of the AccountingWEB Software Awards.
Learn more about iplicit
You might also be interested in
iplicit’s mission is to make the complex simple and accessible.
Its powerful cloud accounting software is tailored for businesses and non-profits that have outgrown entry-level systems or clunky on-premise products.
Developed from decades of experience implementing large-scale ERP systems, iplicit combines a rich array of functions...