8/27/2023 0 Comments Notable 100m series iconiq growthAccording to the startup, users can track how long it takes for various business units to process orders. Vic.ai offers an analytics dashboard for monitoring the performance of accounts payable tasks. In addition, the AI models analyze how a business handles supplier payments and, over time, learn when payments can be automatically accepted. ![]() Vic.ai claims its platform automatically distributes each supplier invoice to the appropriate executive for review. Organizations are frequently required to approve supplier invoices before payment. Vic.ai asserts that its platform minimizes these accuracy difficulties and is easier to deploy. However, according to Vic.ai, competing technologies frequently experience accuracy concerns when a company receives a bill in a format that differs from its usual suppliers. There are additional products on the market capable of automating invoice processing workflow similarly. Vic.ai asserts that their platform’s AI models can automatically extract data from invoices to save the finance team’s time. Traditionally, this task was performed manually. To process a supplier invoice, an organization must extract the invoice’s transaction details and add them to its enterprise resource management system. Vic.ai has reportedly helped corporations save roughly USD 200 million in expenses by improving accounting processes. Using Artificial Intelligence (AI), the startup’s platform automates a significant portion of the task’s manual labor. Vic.ai is a software platform business used to handle the accounts payable process or pay vendors for goods and services. The corporation has received a total of USD 115 million from outside sources. Cowboy Ventures and Costanoa Ventures, two additional returning investors, also participated. XFO Financials Inc., a startup in accounting automation doing business as Vic.ai, has raised USD 52 million in a newly announced investment round.Įxisting investors in Vic.ai like GGV Capital, and ICONIQ Growth led the Series C funding round. Organizations are frequently required to approve supplier invoices before payment.Using artificial intelligence, the startup’s platform automates a significant portion of the task’s manual labor.For clinicians, it automates administrative tasks like writing clinical documentation or adding billing codes, empowering them to spend more time on patient care. The platform leverages digital assistants to perform these workflows by clicking into fields, updating records, and uploading documents. Common examples include collecting patients’ pre-visit registration information, submitting a prior authorization request, or reaching out to patients who are overdue for care. Led by Pranay Kapadia, co-founder and CEO, Notable provides a platform that leverages AI to continually scan providers’ electronic health record systems (EHRs) and other applications, identifying automated workflows to perform. The company plans to use the funds to expand access to its platform to more healthcare providers, while enhancing platform capabilities to further increase partners’ return on investment. The round was led by ICONIQ Growth, with participation from Greylock, F-Prime Capital, and Oak HC/FT. Notable, a San Mateo, Calif.-based intelligent automation company for healthcare, raised $100M in Series B funding.
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