NEW YORK, April 05, 2023 (GLOBE NEWSWIRE) -- Vic.ai, a leading provider of AI-powered AP Automation and Intelligence, today announced it will offer autonomous invoicing in the Coupa App Marketplace, connecting businesses with certified, pre-built solutions. Coupa Software certified Vic.ai’s Autonomous Invoice Processing solution for use within the Coupa Business Spend Management (BSM) Platform – its cloud-based platform that empowers companies around the world with the visibility and control they need to make smarter spending decisions.
Vic.ai’s Coupa-certified invoicing solution replaces legacy OCR template and rules-based invoice processing methods using next-generation AI technology to deliver fully coded invoices to the Coupa BSM Platform.
Every invoice is analyzed by Vic.ai’s proprietary AI to extract and predict all relevant invoice information, including vendors, dates, amounts, cost accounts, and dimension values - all without the use of templates. Once coded, invoices are sent to Coupa for approval and payments.
Vic.ai for Coupa Invoicing Management supports invoice processing with unlimited scalability for high-volume and multi-entity organizations, providing the agility to manage sudden increases in invoice volume by adapting to new formats.
“With growing businesses burdened by limited resources and ineffective, manual tools to efficiently process invoices, the need for a scalable, AI-driven, touchless invoicing solution is imperative now,” said Roger Goulart, Executive Vice President of Business Development and Alliances at Coupa. “We’re proud to have Vic.ai on the Coupa App Marketplace to give our customers even greater control and autonomy over invoice processing to improve productivity and drive down the total cost of AP across the organization.”
As a certified CoupaLink solution, Vic.ai’s Autonomous Invoice Processing meets the requirements established by Coupa through its CoupaLink Partner Program and is available in the Coupa App Marketplace. The CoupaLink Partner Program enables software partners to build complementary solutions that easily connect into the Coupa platform. Customers benefit by discovering and connecting solutions to optimize their business spend and reducing business risk while reducing the cost of third-party software integration.
“Connecting Vic.ai Autonomous Invoice Processing into the Coupa Business Spend Management Platform gives our customers an end-to-end, AI-driven, touchless invoice processing experience. This provides Coupa customers with real-time business and operational intelligence and an opportunity to optimize OpEx, cost centers, and early pay benefits,” said Aditi Charnoubi, Chief Growth Officer at Vic.ai. “We are honored to be part of the Coupa App Marketplace as a trusted, certified CoupaLink technology partner. We look forward to providing a sustainable, scalable, and repeatable value-driven experience for our customers with Coupa.”
For more information on Vic.ai’s Autonomous Invoice Processing solution and how it can reinvent accounting processes with improved accuracy, speed, scalability and improve overall financial management, visit the Coupa App Marketplace at marketplace.coupa.com.
Coupa, Coupa Business Spend Management (BSM), CoupaLink, and all Coupa logos are trademarks or registered trademarks of Coupa Software, Inc. All rights reserved.
About Vic.ai
Vic.ai is pioneering the use of autonomy and intelligence to digitally transform accounting and finance processes to improve productivity, decision-making, and ROI. Vic.ai addresses the most manual and inefficient task in accounting – invoice processing – to improve its speed and scalability, and ultimately enable customers to reinvent their accounts payable operations and improve financial management. By processing more than half a billion invoices with up to 99% accuracy, Vic.ai has helped 10,000+ customers achieve nearly $188 million in cost savings and 6 million hours in time savings. Vic.ai was founded in 2017 by Alexander Hagerup and Kristoffer Roil and is jointly headquartered in New York City and Oslo, Norway. For more information, please visit http://www.vic.ai/.
Vic.ai Media Contact:
Ashley Paula-Legge
Big Valley Marketing
alegge@bigvalley.co
707-972-0073
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f05ad239-1443-4833-8189-5f403dd75b75
