According to the announcement, the cooperation will result in a solution that combines Scrypt’s AI-driven payables platform with Finexio’s cloud-based B2B payments infrastructure.
According to the publication, “by replicating human reasoning, Scrypt can read any text or image, then learn, discover, and perform judgment-based activities on its own.” “As a result of the Finexio cooperation, Scrypt users will now have access to Finexio’s… payment capabilities, resulting in a totally simplified and autonomous [accounts payable (AP)] payments process.”
Customers may avoid using paper checks thanks to the firms’ joint solution. Companies may minimize their finance teams’ burden and better “visibility to payment status while delivering enhanced payments security,” according to the statement.
“Companies are still dealing with this mostly with paper checks, primarily by hand, primarily with people,” he added.
At the same time, the organization takes a straightforward approach to attract new clients.
“You don’t see a lot on our website about AI or machine learning per se because those are frightening words that don’t really resonate with Joe Smith users of the service — they just don’t want to do things by hand anymore,” Rolfson explained.
Scrypt’s accounting platform is built on a data operations program developed at MIT for the United States Department of Defense.
The firm blends data processing and decision support technologies powered by AI and machine learning, and it leverages Big Data to learn over time.
