NEW YORK, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Vic.ai, the leader in automating accounting and finance operations through artificial intelligence (AI), is excited to unveil its dynamic, role-based approval flows. Addressing a common challenge where 50% of accounts payable (AP) departments struggle with outdated invoice approval processes, especially in large, multi-entity organizations, this innovative feature transforms the AP process by streamlining the creation and maintenance of approval workflows. With direct integration into HR systems (also known as HRIS), Vic.ai automatically assigns individuals to appropriate approval flows based on their role, department, or team, seamlessly adapting as organizational structures evolve. This advancement reduces the administrative burden of managing approvals and allows teams to focus more on processing critical invoices, thereby increasing both efficiency and accuracy.
“Our launch of dynamic, role-based approval flows marks a significant step forward in workflow management, fundamentally transforming how AP processes are envisioned and executed,” says Alexander Hagerup, CEO and Co-Founder of Vic.ai. “By integrating directly with HRIS, we're not just simplifying complex procedures; we're demonstrating how AI-driven automation enhances efficiency and redefines precision and compliance.”
With this release, customers can choose from two options to set up their approval flows — by individual or role. Vic.ai's dynamic approval flows are designed for seamless integration with over 50 HRIS, providing broad coverage and flexibility to meet the needs of all customers. Key benefits include:
- Streamlined workflow management: Minimizes manual oversight, freeing AP teams to concentrate on invoice processing.
- Automated role assignment: Leverages HR data to accurately assign roles within the approval chain, ensuring consistency as organizational roles change.
- Enhanced focus on key invoices: Prioritizes crucial invoices, reducing bottlenecks and expediting the approval process for greater operational agility.
- Adaptability to organizational changes: Automatically adjusts to organizational shifts such as employee turnover or departmental restructures, maintaining uninterrupted approval processes.
This feature was designed to support diverse organizational structures and use cases, ensuring streamlined and adaptable approval processes that scale with your business.
- Multi-location organizations: Ensures uniform approval protocols across various locations, enabling centralized control while accommodating local approvers.
- Multi-entity organizations: Creates distinct, tailored approval workflows for different entities under the same corporate umbrella, simplifying management and enhancing compliance.
- Highly matrixed organizations: Facilitates seamless communication and coordination between departments, automating approvals and information flow to speed up decision-making.
- Fast-growing organizations: Supports rapid scalability and workflow adjustments in line with organizational growth, ensuring minimal disruption and sustained efficiency.
For additional information about Vic.ai's approval flows and how they can enhance your AP process, read our blog post.
Learn more about Vic.ai Approval Flows.
About Vic.ai
Vic.ai is pioneering the use of autonomy and intelligence to digitally transform accounting and finance processes to improve productivity, decision-making, and ROI. Vic.ai addresses the most manual and inefficient task in accounting — invoice processing — to improve its speed and scalability and ultimately enable customers to reinvent their accounts payable operations and improve financial management. By processing more than a billion invoices with up to 99% accuracy, Vic.ai has helped 10,000+ customers achieve nearly $200 million in cost savings and 6 million hours in time savings. Vic.ai is jointly headquartered in New York City and Oslo, Norway. For more information, please visit http://www.vic.ai/.
For more Information:
Mark Fisher
Vic.ai
mark.fisher@vic.ai
