The release states that the collaboration will lead to a solution that integrates the AI-driven payables platform from Scrypt with the cloud-based B2B payments infrastructure from Finexio.
The article claims that by mimicking human thinking, Scrypt is capable of reading any text or image and then learning, discovering, and carrying out decision-based tasks on its own. The Finexio partnership has given Scrypt users access to Finexio’s payment capabilities, resulting in a completely automated and streamlined [accounts payable (AP)] payments procedure.
Customers may not use paper checks owing to the collaborative solution of the companies. According to the statement, businesses may lessen the workload on their finance departments and provide better “visibility to payment status while ensuring increased payments security.”
“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.