New AI-based AP platform makes it easy for iGaming operators to manage accounting

Scrypt allows for efficient and accurate processing of all billing activity

It is well known that accounts payable and receivable management sometimes faces too many challenges. However, Scrypt, a treasury management platform, has launched an integrated and fully automated platform for these processes in the cloud. With the implementation of artificial intelligence (AI) in this new platform, there is no doubt that iGaming operators will now have an essential tool to further manage their accounting.

This AI-powered platform was developed to incorporate machine learning, which provides the ability to read any image and document, learn over time and make decisions similar to specialists in the field. This data capture technology has the power to eliminate the need for numerous manual touchpoints in automated accounts payable (AP) and accounts receivable (AR) systems, which is doing wonders for related departments in the iGaming industry.

“The problem with the AP automation that’s currently being used is that it still requires employees to complete manual tasks such as coding, upfront annotations, reviews, and approvals. It’s not really automated when you have teams either internally or offshore performing these actions,” said Andy Vidan, Scrypt CEO and co-founder. “We’ve developed technology that can actually do the manual work and make AP, AR, and even payments automation truly touchless.”

Intelligent automation is a combination of technologies, Robotic Process Automation (RPA) and AI, that enable rapid end-to-end automation. RPA addresses all rules-based tasks, such as downloading invoices and sending them to the right people for approval. AI provides what is needed to extract data from multi-format invoices without human intervention.

With pre-trained AI models, which allow you to extract invoice data quickly and easily, you can automate all your supplier invoices. Models can be further trained for specific uses, such as improving extraction accuracy and straight-through processing rates for a particular high-volume supplier.