Accounting Seed has released AI Invoice Capture, a new feature within its AP Automation offering designed to streamline invoice processing and reduce manual accounts payable work.
The feature is expected to allow accountants to focus less on validating information and more on analysing data.
Accounting Seed chief technology officer Ryan Sieve said: “AI Invoice Capture represents a major leap forward in making finance teams more efficient.
“Unlike traditional OCR [optical character recognition] tools that simply extract text, our feature applies AI to understand patterns and predict coding behaviours. It is not just reading the invoice – it is thinking through how to record it accurately.”
AI Invoice Capture extends beyond basic OCR technology by learning from previously processed invoices.
It predicts how to populate key fields such as General Ledger expense accounts, products and projects, the company said.
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By GlobalDataThe company noted that finance teams typically spend more than 500 hours annually on manual accounts payable tasks.
AI Invoice Capture aims to improve efficiency by automating invoice intake and coding, thereby reducing labour costs and manual errors.
This automation also accelerates processing, which can lead to improved cash flow management.
Accounting Seed vice-president of product Mary Balmer said: “AI Invoice Capture continues to learn from your business over time, automating more of the invoice process with each use.
“By reducing repetitive data entry, it frees accountants to spend less time validating information and more time analysing what matters.”
This development follows Accounting Seed’s release of a series of guides last year.
These guides were designed to empower businesses with the necessary tools and strategies to meet growing customer demands.
Launched in 2011, Accounting Seed has been a Salesforce-native accounting solution, bringing together accounting and customer relationship management under one roof.
The native sharing of data on the Salesforce Platform provides departments with a real-time view of business performance across sales, operations and finance.
