C2FO, the biggest international platform for working capital, as we speak introduced a brand new partnership with Vic.ai, a supplier of synthetic intelligence (AI) for autonomous accounting and monetary administration.
Via this partnership, C2FO and Vic.ai will present their enterprise clients with a versatile AI-driven bill acceleration answer that helps enhance gross margins, additional reduces the cost cycle for his or her provide chains, and improves the ROI for accounting and finance groups.
Vic.ai is pioneering the usage of autonomy and intelligence to digitally remodel accounting and finance processes to enhance productiveness, decision-making and ROI. Vic.ai addresses essentially the most guide and inefficient job in accounting — bill processing — to enhance pace and scalability, enabling clients to reinvent their accounts payable operations and enhance monetary administration. The corporate will increase finance groups’ productiveness with AI that works 24/7 on processing invoices sooner and extra precisely. The AI’s dramatic outcomes embrace chopping clients’ complete bill processing time by 80%.
C2FO connects over 1.8 million companies and greater than $110 billion of day by day accounts payable and accounts receivable obtainable for early cost. In 2022, the corporate achieved a historic milestone, having accelerated funding of greater than $200 billion to corporations worldwide since its founding. The C2FO platform reduces the cost cycle by a mean of 32 days. Including the ability of Vic.ai’s market-leading synthetic intelligence and accelerated funds will additional enhance the invoice-to-cash cycle for joint clients.
“This partnership furthers our pledge to assist companies enhance margins, increase entry to working capital and drive development,” mentioned Allison Baker, senior vice chairman and head of partnerships at C2FO. “We’re persevering with to construct out our companion ecosystem and collaborate with best-in-class applied sciences, like Vic.ai, to serve extra companies and enhance their working capital methods.”
“C2FO’s best-in-class working capital platform is a confirmed recreation changer for enterprises, enabling them to maximise operational money, enhance provider relations and optimize procurement,” mentioned Vic.ai Chief Development Officer Aditi Charnoubi. “Paired with Vic.ai’s industry-leading AI for autonomous AP, which minimizes bill processing and approval time, companies can achieve full value insights and optimize spend based mostly on {industry} benchmarks.”