Tungsten Automation, previously known as Kofax, has introduced a new AI-powered integrated capture and e-invoicing network solution, dubbed InvoiceAgility.
InvoiceAgility is designed to simplify accounts payable (AP) processes while eliminating friction and empowering financial operations through AI-powered workflow automation.
The AI solution combines Tungsten’s e-Invoice Network with the capability to capture incoming paper or image-based invoices through its AP Essentials cloud solution.
Tungsten said its InvoiceAgility delivers measurable time and cost savings.
Tungsten Automation invoice automation management and strategy head Emily Nash-Walker said: “As the financial landscape continues to evolve with global supply chains and changing regulatory requirements, we focus on providing solutions that deliver tangible value to meet the ever-increasing demands of modern businesses.”
IDC research director Kevin Permenter said: “By transitioning towards autonomous systems that use AI and machine learning, businesses can achieve greater improvements in accuracy and efficiency, with systems that adapt to changes and optimise workflows automatically.”
According to the automation software provider, supply chain complexities, ever-changing regulations and growing fraud are overloading AP teams.
InvoiceAgility will eliminate the complexities to advance invoice processing, reduce errors and ensure compliance, significantly enhancing efficiency, said the company.
The solution will advance invoice processing by accepting paper or image-based invoices from any suppliers, including countries with e-invoice regulations or mandates.
It will ensure accuracy and compliance by validating invoice accuracy, tax compliance and financial workflow rules to ensure invoice accuracy and speed processing.
Also, InvoiceAgility will provide actionable AI-powered insights to help analyse supplier invoice trends and optimise cash flow with the Tungsten Copilot.
Furthermore, it enables straight-through processing (STP) using trusted automation to help customers manage incoming invoices from receipt to payment without human intervention.
