Nexelus has released its cloud-based solution apworks.ai, the operational software maker announced on Tuesday (Aug. 3).
The company said the product addresses the manual practice and high costs of accounts payable (AP) processing, automating and simplifying the process with artificial intelligence (AI) and machine learning technology.
“We successfully tested the AP workflow automation solution from Nexelus for various scenarios and use cases,” Andrea Scapicchio, controller, US Creative Service Line at Dentsu Advertising, said in a news release. “We were able to assess the efficiency gains by using this solution for various business lines. We are looking forward to benefiting from the improved and efficient workflow.”
According to Nexelus, apworks.ai is based on the Amazon tech stack and “architected as a multi-tenant SaaS product.” It allows companies to process media, production and overhead vendor invoices with almost no human interaction, the release stated.
“An easy-to-use dashboard guides users through the invoice lifecycle,” the company said. “But it’s the sophisticated and configurable routing mechanism that’s the real standout, providing seamless routing and approval of invoices.”
Key features include rules-based approval and routing configuration, as well as direct email that allows vendors/accountants to email invoices to the system. The tool also offers seamless integration, meaning it can be built into any Nexelus product offering without the need to maintain separate vendor and employee listings. In this case, data is pushed and pulled to and from “Nexelus or as a standalone system.”
PYMNTS examined the use of AI in accounts payable systems last month when Tradeshift, maker of automated AP and invoicing systems, launched new AI enhancements to its platform.
Read more: Tradeshift: AI Updates Demonstrate Value Of Automated AP Systems
These new features include an automation dashboard designed to help teams forecast whether processes will be more efficient if carried out by computers or by humans.
“Ada’s invoice coding functionality is constantly learning from valid historical transactions — even when it is not in use — to achieve complete, accurately coded documents that are ready for approval and posting,” the company said.
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