Google Cloud blog: News, tips, and inspiration to accelerate your digital transformation: "How Auditoria.AI is building AI-powered smart assistants for finance teams"
Adina Simu, COO and CPO at Auditoria, authored a blog post for Google Cloud. Read a summary here and the full blog in the link below.
Auditoria.AI is an AI-based platform that aims to automate routine tasks in corporate finance and accounting departments. Our goal is to free finance professionals from mundane and repetitive tasks, allowing them to focus on strategic insights and valuable contributions to the business.
The Auditoria.AI platform focuses on three major finance functions: accounts payable, accounts receivable, and general accounting. By automating processes such as invoice processing, payment collection, and document analysis, Auditoria.AI aims to improve efficiency and accuracy while reducing the workload and overworking of finance professionals.
Auditoria.AI's solution utilizes SmartBots that automate communications between finance teams, vendors, and customers. Our platform leverages natural language technology to understand and interpret requests, extract relevant information from various documents, and respond within seconds. We have integrated Google Cloud's Document AI, which provides pre-built models for analyzing unstructured documents. This integration allows Auditoria.AI to extract specific data from invoices, tax forms, receipts, and emails accurately.
By automating document analysis and data extraction, we have achieved significant improvements in efficiency, accuracy, and processing speed. We streamline internal processes, leading to faster services for customers.
The adoption of automation with Document AI has enabled Auditoria.AI to achieve impressive results. We have experienced a 90%+ speed increase in general ledger entry collection, reduced errors and omissions by 85%, and closed books 20% faster for our clients.
The productivity of employees has improved by 60%, process workload has been reduced by 75%, and vendor serviceability has improved by 75%. Additionally, we have allowed customers to mitigate vendor risk and fraud by 50%. Automation has not only improved our existing processes, but also allows us to focus on innovation and developing new features.
By leveraging Document AI for standard extraction, we dedicate more time to enhancing our solution and adding intelligence to post-extraction tasks, such as matching vendors' names to internal records.
With the benefits and successes achieved so far, we plan to accelerate its international growth. We intend to expand operations into different languages and rely on Google Cloud's Document AI to further automate our operations.
Our goal is to continue removing friction from the work lives of finance and accounting professionals worldwide, ultimately improving their efficiency and enabling them to focus on more valuable and innovative tasks.