AppZen Inbox Streamlines Accounts Payable Workflow Starting from Incoming Vendor Emails, Reducing Processing Time from Days to Hours
SAN JOSE, CA (July 27, 2023) – AppZen, the leader in AI-powered finance automation and compliance solutions, today announced the launch of AppZen Inbox. This groundbreaking, GPT-powered email solution helps accounts payable teams classify, process and respond to suppliers’ invoices and inquiries. AppZen Inbox uses generative AI to understand the content and context of each email and attachment, in order to organize incoming messages into categories so AP teams can take efficient action. It then drafts personalized responses, saving them considerable time and effort.
"Portals are difficult to set up, monitor, and update, and suppliers tend to send invoices and other communications straight to an AP team’s inbox, regardless. Our customers were spending one-third of their time responding to these emails manually. They wanted to know if our AI could help them remove that stress. AppZen Inbox allows our customers to extend the functionality of the Gmail or Outlook inbox the AP team is already using," said Anant Kale, CEO of AppZen.
The real genius of AppZen Inbox is its ability to read emails and documents and generate data-driven replies to vendor inquiries. The email content provides the AI with the insight to determine how it should respond to inquiries and what information to include when crafting a reply. The AI constantly learns from the way users edit its responses, and it continues to adapt to new interactions and company data as part of its ongoing training process.
AppZen’s finance AI has undergone extensive training on millions of emails and documents. It’s specifically designed to understand the kinds of transactions commonly handled by AP teams. When connected with AppZen Autonomous AP, it bridges the gap between finance teams’ AP emails and their existing ERP/P2P systems. It immediately initiates automated invoice processing and takes invoices all the way to 'Ok to pay' without any human touch, including 100% accurate data entry, GL code assignments and PO matching. Users can then see the status of a particular invoice transaction from within their native AP email inboxes. They no longer need to switch between systems to find relevant information.
AppZen Inbox is transformative for AP teams, saving them hours spent reading, categorizing, and responding to the hundreds of emails received each day. Because the solution starts the invoice workflow as soon as it receives the document, it also reduces invoice processing time from days to hours. And it’s designed to integrate seamlessly with Gmail or Microsoft Outlook, making setup fast and seamless.
"Ultimately, it’s all about your process. We're passionately committed to converting your obstacles into opportunities with our pioneering technology. Companies partner with us because we have a mature, time-tested finance AI platform and a legacy of architecting innovative solutions for finance teams," added Kale.
AppZen is the leader in autonomous spend transaction processing and compliance, using patented artificial intelligence specifically designed for finance. This technology enables real-time decision-making based on your unique spend profile, leading to increased efficiency, cost savings, and reduced fraud. AppZen seamlessly integrates with existing accounts payable, expense, and card workflows to accelerate processing times and reduce errors by replacing manual work. Trusted by some of the world's largest and most global complex enterprises, including a third of the Fortune 500, AppZen increases business speed and agility. To learn more, visit us at www.appzen.com.
Autonomous AP is a trademark of AppZen, Inc.
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