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Corcentric Revolutionizes AP Invoice Processing with Advanced Generative AI Capabilities

Corcentric's integration of advanced generative AI capabilities marks a significant step forward in AP invoice processing, promising increased accuracy, efficiency, and productivity for clients globally.

Leading procurement and finance solutions provider, Corcentric, integrates cutting-edge generative Artificial Intelligence (AI) to elevate its Accounts Payable (AP) invoice processing services.

Enhancing AP Invoice Processing with AI Innovation

Corcentric, a global leader in procurement and finance solutions, has announced the integration of advanced generative Artificial Intelligence (AI) capabilities into its Accounts Payable (AP) invoice processing services. This move represents a significant advancement in the field of financial automation.

A Leap Forward in Accuracy and Efficiency

Manish Jaiswal, Chief Product and Technology Officer at Corcentric, emphasized the transformative impact of AI on invoice management: “The cost to companies of manual invoice management can be measured by the amount of time lost, errors not identified, fraud undiscovered, and payments delayed. By augmenting our advanced AP invoice processing services with the latest responsible AI capabilities, we enable our customers to avoid rectifying and validating issues – including those that occur frequently – within AP processing.”

Intelligent Automation for Enhanced Productivity

Corcentric’s Intelligent AP Automation solutions leverage AI technology to enhance speed, accuracy, and productivity. Jaiswal further explained, “Our solutions increase speed, efficiency, and productivity with intelligent data capture to maximize accuracy and decrease costs for customers.”

Continued Innovation with Generative AI

Corcentric’s commitment to innovation extends beyond AP invoice processing. The company’s Business Innovation Lab continues to explore the integration of generative AI into various document management services. This ongoing effort promises new levels of accuracy, automation, and autonomy for clients.

Comprehensive Solutions for Streamlined Operations

Corcentric offers a comprehensive suite of Managed AP solutions designed to optimize end-to-end workflows. From invoice receipt to approval routing to purchase order (PO) and receipt of goods matching, Corcentric helps clients reduce costs, enhance accuracy, and provide real-time visibility into invoice and expense status.

Breaking Barriers in Financial Operations

By eliminating friction across Procurement, AP, and Treasury departments, Corcentric’s solutions break through the traditional barriers at the AP and Accounts Receivable (AR) boundary between companies and suppliers. This seamless integration fosters collaboration and enhances efficiency throughout the financial ecosystem.

Corcentric’s integration of advanced generative AI capabilities marks a significant step forward in AP invoice processing, promising increased accuracy, efficiency, and productivity for clients globally.

Anshika Mathews
Anshika Mathews
Anshika is an Associate Research Analyst working for the AIM Leaders Council. She holds a keen interest in technology and related policy-making and its impact on society. She can be reached at anshika.mathews@aimresearch.co
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