Surprisingly, most accounting teams still do not have fully automated invoice-processing capabilities and spend significant time and resources on manual data entry and categorization. No software has accomplished truly automating this time- and labor-intensive process, so when we first met Alex, we were very intrigued to understand what Vic.ai could deliver. When we saw the product in action, we were immediately blown away by the extent of Vic.ai’s autonomous capabilities. The co-founders and enthusiastic customers showed us live demos of how Vic.ai ingested and processed invoices. Its core AI engine captured the correct data fields and made intelligent decisions on behalf of accountants, such as accurately picking expense categories. With every decision that gets validated, the system becomes smarter and more customized for each customer. Over time, we believe Vic.ai can achieve over 95% accuracy with this powerful flywheel, resulting in significant cost savings especially for high-volume enterprise customers.īuilding this innovative engine undoubtedly took time and grit. For years, the Vic.ai team trained its AI models with high-quality proprietary data consisting of invoices that were audited and correctly categorized. The result has been astonishing - Vic.ai now processes invoices with a degree of automation and accuracy we believe is far ahead of competition and defying all expectations. On top of the core AI engine, the team at Vic.ai has built out sophisticated approval workflows and integrations to further streamline companies’ back-office financial operations.
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