JAGGAER, a global leader in enterprise procurement and supplier collaboration, announced a strategic partnership with AppZen, a pioneer in AI-powered finance automation, to offer AppZen Autonomous Accounts Payable (AAP) in JAGGAER. This collaboration, scheduled to be released later this year, aims to transform invoice processing for enterprises globally by integrating AppZen’s AI technology into JAGGAER’s comprehensive procure-to-pay platform.
“Our partnership with AppZen marks a significant step forward in the evolution of AP automation,” said Dawn Andre, JAGGAER’s Chief Product Officer. “By combining JAGGAER’s expertise in procurement and accounts payable processing with AppZen’s AI-driven automation, we’re delivering a solution that will transform the way companies manage their invoices, creating efficiencies and reducing manual work.”
AppZen Autonomous AP uses their proprietary AI to ingest accounts payable invoices with unprecedented accuracy and minimal human intervention, addressing critical demands in the finance and procurement technology ecosystem by offering:
- AI Invoice Data Capture: Ensures precise invoice entry, automated GL accounting, and PO matching, significantly reducing processing times and errors.
- Advanced Multi-line PO Matching: Matches complex invoices and PO lines without rules, with high confidence, leveraging AI that understands document content and context.
- Autonomous Processing of Non-PO-backed Invoices: Accurately assigns GL codes and allocations, minimizing the need for human intervention.
- Seamless Integration: The JAGGAER- AppZen connector uses JAGGAER’s standard RESTful API, ensuring smooth data flow between the two platforms.
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AppZen’s CEO Anant Kale added, “We’re happy to bring AppZen’s Autonomous AP technology to JAGGAER’s robust procure-to-pay platform. This integration represents the future of finance automation, allowing businesses to transform their accounts payable processes with unparalleled accuracy, speed, and efficiency. Together, we’re setting a new standard for financial innovation.”
The integration of AppZen Autonomous AP with JAGGAER will be available to customers later this year, offering substantial value to companies looking to modernize their financial operations.
SOURCE: BusinessWire