🚀New CFO insights episode alert!
Today’s topic is: “Making sense of variations in payment instructions” featuring Kelly O’Neill, CEO, KMONE Ventures LLC sharing important insights with Pat, Financial technology consultant at Hyperbots.
Key takeaways:
- Reasons for variations: Each vendor has unique financial processes, contractual agreements, and business requirements.
- Impact on Accounts Payable process: The AP team must ensure compliance with each vendor's specific terms, hence making the process complex.
- Common challenges: Manual effort is required to decode and comply with different instructions, ensuring payments are made as per the correct terms.
- The need for sophisticated AI: Simple AI methods are not enough due to the nuanced language and varied formats used to define payment instructions in invoices.
Learn how more advanced AI can help accurately understand and act on these variations in payment instructions.
#hyperbots #CFOinsights
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