How AI can help you beat time thieves

Time is gold. We are all looking for the best ways to simplify and streamline our work; so we can save time and money. Most people have heard of the concept of Artificial Intelligence, but few know what the AI concept includes, and how much profit this can provide for a company.

AI technology can actually take over large parts of your accounts and financial management, so that you can optimize the use of resources, and thus save both time and money.

But first, what exactly is AI? Artificial Intelligence is a technology that facilitates computer systems to perform tasks that normally require human intelligence. Using smart algorithms, machines can interpret data, apply knowledge and learn to perform special actions – just like a human being.

Handling large invoice volumes and supplier invoices are two examples of tasks that often lead to large costs, and which can be made more efficient with the help of artificial intelligence. But did you know that you can save time in many other areas as well?

Here is our 5 tips on how AI can help you beat time thieves

1. Streamline invoice receipt
Did you know that all invoices can be interpreted, read and posted by an AI engine? It will then send the vouchers out for automatic approval flow for you. When everything has been approved and booked, the payment proposal is ready in the bank. It does not get easier.

2.Gain deep insight into large amounts of data – then optimize

The AI “robot” can read suppliers, product lines and context on incoming invoices. Since AI learns at both macro and micro level, you will over time gain better insight into the accounts – and thus have a better decision basis.

3. Have 24/7 access to updated accounts in real time

By having access to a continuously updated account as a management tool in everyday life, you get continuous liquidity control.

4. Free up time so you can focus on the most important things

Let artificial intelligence take care of the repetitive tasks, so that the finance function in the company can focus on handling deviations and/or other value creating tasks.

5. Get full forecasts and analyzes in no time

With AI, you can optimize forecasts, analyzes and reporting, and have a good basis for decision making in real time.

With the help of AI, companies can actually optimize their finance department in ways that were not previously possible. With more automation and higher productivity, your business can relieve you and your employees, so you can spend more resources on what creates the most value.

Are you curious about how AI can help you get superpowers? Connect with our sales teams and see our AI in action.