Scrypt AI Uses Cognitive Automation to Optimize Accounting
Josh Thompson-Persaud — June 7, 2021 — Business
Scrypt AI is an invoicing software that uses cognitive automation to help businesses make accounting more accurate and efficient. The platform offers services for both Accounts Payable (AP) and Accounts Receivable (AP). Scrypt AI's AP platform provides a Universal Invoice Hub that comes equipped with a robust set of tools to manage accounting, transactions, and documents. The AR platform automatically processes payments from end to end using automation software and predictive analytics.
Scrypt AI draws on cognitive automation–a combination of artificial intelligence, machine learning, and big data that mimics human behavior and employs adaptive decision-making–to revolutionize the AP process. This automation software precisely performs the mundane, repetitive tasks associated with accounting, resulting in increased productivity and fewer errors. Due to the lack of human teams, Scrypt AI's software can be effortlessly scaled up alongside businesses.
Image Credit: Scrypt AI
Scrypt AI draws on cognitive automation–a combination of artificial intelligence, machine learning, and big data that mimics human behavior and employs adaptive decision-making–to revolutionize the AP process. This automation software precisely performs the mundane, repetitive tasks associated with accounting, resulting in increased productivity and fewer errors. Due to the lack of human teams, Scrypt AI's software can be effortlessly scaled up alongside businesses.
Image Credit: Scrypt AI
Trend Themes
1. Cognitive Automation Tools - Businesses can benefit from incorporating AI-driven automation software like Scrypt AI into their accounting functions to increase productivity and accuracy while minimizing errors.
2. Universal Invoice Hub - The Universal Invoice Hub provided by Scrypt AI is a versatile tool that can manage transactions, documents, and accounting functions, creating an opportunity for businesses to streamline their invoice and payment processes.
3. End-to-end Payment Automation - By utilizing Scrypt AI's AR platform, businesses can take advantage of end-to-end payment automation technology, further reducing the workload on accounting teams and minimizing errors in the process.
Industry Implications
1. Financial Services - The Financial Services industry can benefit from incorporating AI-driven invoicing technologies, such as Scrypt AI, into their workflows to improve accuracy and efficiency when managing accounts receivable and accounts payable.
2. Small Business - Small businesses can utilize platforms like Scrypt AI's Universal Invoice Hub to manage their accounting functions, resulting in more streamlined operations and better record-keeping, leading to improved decision making and profitability.
3. Retail - Incorporating end-to-end payment automation technology, such as that offered by Scrypt AI, can help the retail industry reduce payment errors and speed up the payment process, leading to improved customer satisfaction and loyalty.
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