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Al-led Accounts Payable Automation for Financial Services
Enabling financial services faster invoice processing to drive efficiency and optimize cash flows
Accounts Payable Challenges Unique to Financial Services
High invoice processing cycle time
The large volume of invoices requires significant time to review, validate and process
Complex Payment Approval Workflows
Complex approval hierarchies and workflows, involving multiple stakeholders across different departmentsRead More
Vendor
communication
Hundreds of productive hours lost in replying to supplier queriesRead More
Explore Zycus AP Automation Solution
AI-led Accounts Payable Automation for Financial Services
Faster Invoice Extraction and Matching
- Achieve high STP with accurate data extraction of invoice headers and line items using Merlin Al
- Unlock unparalleled efficiency with an average 50% reduction in invoice creation time
Faster Invoice
Approvals
- Instantly route invoices to the appropriate personnel for easy review and approval
- Configure multiple approval tiers and routing logic based on specific attributes (e.g., amount, vendor, department, location etc.)
Vendor
Communication
- Zycus AP Smart Desk uses NLP and ML algorithms to identify email types and extract relevant data and automates invoicing email processing
- Auto-replies to query emails and creates invoices for processing emails freeing up AP resources for strategic tasks
Fraud
Prevention
- Utilize automated anomaly detection technology to identify and prevent fraudulent payments by flagging vendors
- Implement Al-led scanning of every invoice to detect and flag potential duplicates, reducing the risk of overpayments
Global
Tax Compliance
- End to End Clearance model for invoice types across different countries
- Integration with specialized, third-party tools for automatic tax calculation
Financial Services and Credit Unions Trust Zycus
Zycus helped a leading Australian financial services enterprise streamline their AP processes
40%
incremental accounts payable efficiency by Merlin Al for AP
65%
improved invoice processing
time
Our Marquee Clientele
Why Leading Enterprises Love Zycus!
North American health insurer achieves 98% accuracy in invoice data extraction with Zycus
Leading business solutions provider drives procurement efficiency with Zycus’ AI-powered solutions
Global automobile manufacturer transforms invoice processing with Zycus Merlin AI suite
Resources
Navigate through and come out stronger from a recession with AI-powered AP automation
Assess your e-invoicing maturity against peers and plan for effective change management
