The machine learning (ML)-powered bookkeeping solution Botkeeper has joined forces with the artificial intelligence (AI) accounting platform Vic.ai to give accountants and accounting firms “a unified, faster, more intelligent, and advanced autonomous Accounts Payable (AP) solution,” per a Tuesday (July 27) news release.
The two firms say this tool will integrate with customers’ general ledger (GL) and bill pay systems, all from within the Botkeeper operating system.
“Integrating Vic.ai into the Botkeeper Operating System provides accountants with enhanced autonomous invoice processing and real-time insights,” per the news release. “The combination of Botkeeper and Vic.ai will bring the largest source of data together in a progressively smarter platform, removing onerous and manual tasks from an accountant’s day-to-day activities.”
The companies said the Vic.ai module will allow for invoice processing without the need for data entry or classification review.
“This includes everything from vendor identification to cost and dimensional classifications on a line item level,” the release said.
The firms say their unified approach will help accountants become more AI-powered, leading to time savings, a reduction of errors and duplications and effective approval workflows.
“Botkeeper’s approach to automated bookkeeping and pre-accounting, encourages open and connected systems to generate exponential value,” said John Barnes, chief product officer at Botkeeper. “Integration with the Vic.ai autonomous invoice processing module will continue to streamline the overall accounting process and enable greater insights for accountants and their clients.”
Earlier this year, Botkeeper rolled out a new pricing model aimed at making their product more accessible to smaller accounting firms, allowing them to introduce fixed or subscription-based products to their customers.
“We’ve spoken to so many small firms that want to take the leap to implement automation into their practice,” Botkeeper Chief Financial Officer Edward Shaughnessy said at the time. “We decided to go back to the drawing board on our pricing and see what we could do to help.”