Berlin, Germany - Hypatos, a leading provider of next-generation AI for finance, has announced the launch of AccountingGPT which automates accounts payable processing from data capturing to posting with transformative results.
The company's advanced machine learning technology integrates seamlessly with major finance platforms, including SAPS/4 HANA and ECC, Workday Financial Management, and Coupa, as embedded AI. This integration enables businesses to leverage their own ERP and workflow data to train powerful AI models, ensuring the highest levels of accuracy and efficiency in accounts payable automation.
According to Dr. Ulrich Erxleben, Founder & CEO of Hypatos, "The latest advancements in AI technology lead to a fundamental transformation of organizations' operating model. The finance department and its support processes will be first in line to undergo thischange. AccountingGPT is the most advanced application of next-generation AI for the back-office."
Powered by Hypatos' AI models that leverage public and private data, AccountingGPT achieves unparalleled accuracy and no-touch automation in the end-to-end accounts payable process. By automating key processes such as data extraction, PO matching, assigning general accounts, androuting invoices, AccountingGPT helps AP teams save valuable time, reduce errors, and increase productivity and cost savings.
"AccountingGPT is truly groundbreaking. It enables our clients to transform their finance operations," said Jonathan Dienlin, Partner PwC Germany, which partners with Hypatos to bring the benefits of advanced AI to clients.
Hypatos' AI models extract and analyze financial data from various document types, streamlining the accounting and finance process for businesses in all industries. Additionally, the models assign general ledger accounts, match POs, and determine the appropriate workflow owners for each document, ensuring accurate and efficient processing. The processed information can be automatically transferred to accounting and workflow systems, minimizing manual data entry and reducing the risk of errors.
AccountingGPT is enterprise-ready, ISO 27001 certified, and compliant with SOC 2 Type 2, GDPR and HIPAA, ensuring the highest levels of security, privacy, and data protection. Moreover, it supports international supply chains, recognizing invoices in more than 100 languages. Hypatos' technology empowers businesses to streamline their financial processes, reduce manual labor, and achieve greater accuracy and efficiency.
For more information about AccountingGPT, visit Hypatos' website or contact their sales team.
Phone: +49 (0) 302 09 97 00
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