Gappify is the latest company to roll out business accounting-related bot technology.
The company announced news on Wednesday (Sept. 20) that it has launched Alan, “bot” technology designed to assist business accountants. The solution is integrated into Gappify’s cloud accounting software and can complete various tasks related to accounts payable, accounts receivable, payroll and other cash management functions, the company said.
Using robotics process automation technology, Alan automates tasks to help corporate accountants focus on more strategic and value-add processes. Gappify said Alan, which is not a chatbot, can handle both routine, mechanical processes as well as ad-hoc and specialized tasks.
“We are now entering a new and exciting phase in our profession’s history thanks to the power of [Robotics Process Automation],” said Gappify Chief Executive Officer Jotham Ty in a statement. “Bots like Alan will handle the traditional number-crunching and repetitive manual work, while we accountants become the analytical and strategic partners of organizations that guide companies through the increasingly dynamic nature of today’s business [world].”
“In an era of new business models and changing accounting standards, accounting professionals need automation [software] so that they can deliver fast, correct and smooth close processes,” said Carla Cooper, the firm’s Advisory Board Member, in another statement. “Gappify and Alan will enable finance staff to keep pace with the speed of business and finance evolution in an era of increasing complexity.”
Gappify isn’t the only company to design a bot for corporate accounting purposes. Cloud accounting company Sage launched its chatbot Pegg last year.
“The future of the workplace is conversational, and chatbots are now being integrated into key workflows and business processes to improve productivity,” said Beerud Sheth, CEO of Gupshup, which partnered with Sage to develop the artificial intelligence (AI) solution.
Earlier this year, research from eft found that supply chain professionals are also particularly interested in bots and chatbot technology to manage manual processes, with nearly half of professionals in the industry surveyed saying they are engaging with chatbots or other forms of AI tech in some capacity.