Itemize Adds AI Copilots to Streamline Financial Processes

Itemize has introduced AI Copilots for Financial Transaction Processing, a feature that integrates with the company’s existing capabilities.

The company offers AI Copilots for accounts payable (AP), remittance processing, supply chain management and loan processing, each of which is a complex domain for which these solutions will be relevant, Itemize said in a Tuesday (March 5) press release.

“At Itemized, our mission is centered on streamlining financial processes and bolstering productivity for our clients,” James Thomas, CEO of Itemize, said in the release. “The introduction of our AI Copilots for Financial Transaction Processing is a testament to our commitment to delivering state-of-the-art financial automation solutions.”

These new tools join Itemized’s existing offerings that help businesses transition from paper-based systems to automated data entry solutions, according to the release.

The company’s artificial intelligence (AI) solutions for complex, data-heavy financial processes help businesses achieve cost savings, efficiency gains, and improvements in data quality and business intelligence, the release said.

Its platform is cloud-based, user-friendly and applicable to a variety of uses cases, per the release.

One long-term partner and client of Itemize, LSC Global, plans to leverage the latest additions to the platform to further enhance its service to its customers, according to the release.

“Itemize’s cutting-edge technology has consistently provided solutions to refine our financial operations efficiently,” Vijay Bobba, co-founder and managing partner of LSC Global, said in the release. “The introduction of AI Copilots is a game-changer, promising to take our efficiency and accuracy in financial transaction processing to new heights.”

In another recent development in this space, Corcentric said Tuesday that it has integrative generative AI (GenAI) technology into its accounts payable (AP) invoice processing for its customers.

With this addition, the AI will extract customized or unique data, refine invoice verification processes, enhance error and fraud detection mechanisms, and handle poor-quality invoices.

On Monday (March 4), Coupa said it was adding GenAI solutions to its platform designed to connect and optimize sourcing, purchasing, supply chains and financial management.

One of Coupa’s new additions is an AP automation feature that digitizes invoices by extracting invoice data from scanned documents.