Artificial intelligence (AI), throughout 2024, became an increasingly permanent component of many business processes. Particularly across the back office and finance and treasury departments, where critical operating functions like accounts payable (AP) and accounts receivable (AR) have long been plagued by manually driven inefficiencies, errors and delays, the question for firms of all sizes is no longer whether to integrate AI into AP/AR processes but how to do so most effectively. In finance departments, AI-powered tools are tackling everything from invoice processing to fraud detection. For example, optical character recognition (OCR) technology, coupled with AI algorithms, can now scan and interpret invoices with near-perfect accuracy, helping eliminate human errors and accelerating processing times. Automating other tasks such as invoice data entry, manual routing and reconciliation on the AP side, as well as invoice generation and collection and reporting and analytics on the AR side, helps free up staff to focus on higher-value activities such as analyzing cash flow trends or negotiating with vendors. It can also ultimately reduce human error, in turn helping to minimize costly mistakes while aiding compliance with tax and regulatory requirements.

Full report : AI’s Growing Role Across B2B Payments Will Be Impossible to Ignore in 2025.