AI at the heart of regaining time for business intelligence - says V1
Published Wednesday, July 4, 2018 3:19 PM by Wearev1, Author
AI partnership supports V1 drive to transform finance teams
Artificial Intelligence (AI) will augment the intelligence of your business, reinventing core processes to help finance teams regain time and transform their roles into providing high value strategic business insight. This is according to cloud connected finance automation company V1, which has today partnered with AI company solv.ai to ensure its customers benefit from the latest technology innovations, billed as the next industrial revolution for the sector. The cloud-based solv.ai tool – resolvr – lets Account Payable finance staff win back the 30% of time spent on average simply answering reactive supplier queries.
The partnership complements V1’s existing cloud connected robotic process automation (RPA) software, which uses cognitive technologies to capture key data and develop touchless automated processes. Whilst RPA and AI technology is disrupting the current make-up of the finance team, V1 believes it is a positive force that will help to unlock potential and ensure staff can be freed up from mundane tasks and create a more strategic role based on analysis and actionable insights.
“Time spent answering tedious queries is a pain point for everyone – finance teams as well as the suppliers they are dealing with. Using solv.ai’s AI chatbot to answer queries around invoices, purchase orders and payment reconciliation with natural language processing, is an exciting example of the positive impact technology can deliver to transform the finance function,” comments Dean McGlone, Director at V1.
Nigel Taylor, Owner and Co-Founder of solv.ai, comments: “This partnership will spearhead the use of AI amongst finance departments and take away the fear of change. V1’s established solutions deliver proven benefits of RPA in a connected cloud environment and are integrated with the leading financial management solutions – adding our tool within this environment should be a straightforward decision for companies, allowing Accounts Payable teams to improve services to external suppliers, save time and so create new opportunities.”
For those looking for further information, V1 has created a V1 infographic on RPA and the impact on accountants in practice and business, which can be downloaded: https://www.wearev1.com/events-resources/resources/