#USA #Stampli #Mountain View #BILLY #P2P Automation

Stampli Breaks New Ground with 2 Million Invoices Monthly

In a remarkable achievement, Stampli, a leading AI-driven platform specializing in procure-to-pay (P2P) automation, has reported that its customers have uploaded 2.06 million invoices in October alone. This figure marks a significant milestone for the company and illustrates the increasing reliance of mid-market and small-to-medium businesses (SMBs) on its capabilities.

A Surge in Adoption

The latest figures not only reflect the company's solid performance but also highlight a year of rapid growth, particularly among organizations with sophisticated financial operations across multiple entities. More businesses are standardizing their financial processes using Stampli, demonstrating a robust trend towards automated solutions that offer efficiency and accuracy.

What sets this achievement apart is the fact that the 2 million invoices processed are genuine vendor invoices, which necessitate a complex workflow involving coding, purchase order matching, approval routing, and synchronization with Enterprise Resource Planning (ERP) systems. These processes are significantly more intricate than simple expense transactions and pose unique challenges for financial teams.

Stampli's AI employee, Billy, plays a pivotal role in streamlining these workflows. By learning from each customer's specific processes, Billy can execute a variety of tasks effectively and transparently, providing users with a seamless experience.

The Role of AI in Finance Operations

Stampli's technology caters to the evolving demands of mid-market companies that grapple with complex accounts payable (AP) structures, geographically distributed teams, and intricate approval policies. Over the past year, numerous companies have adopted Stampli to enhance their finance operations beyond mere task automation. The platform allows for adaptability according to the unique needs of each business, reflecting a growing trend where organizations view P2P processes as strategic advantages.

As businesses increasingly process large volumes of invoices, the significance of operational accuracy, transparency, and oversight becomes paramount. Stampli’s solution addresses these concerns by offering an adaptive system that evolves with the businesses it serves.

How Billy Stands Out

Unlike other AP automation tools that rely on fixed rules and templates, Billy takes a nuanced approach to financial operations. By serving as an AI employee, Billy doesn't just follow instructions; it learns how each organization operates, including invoice coding, departmental approvals, and handling exceptions.

This is achieved through its ability to build contextual understanding from every interaction within Stampli and direct access to live ERP data. Consequently, Billy can navigate complex financial landscapes more adeptly than traditional systems that depend on rigid if/then logic.

Billy's recommendations are embedded within the workflows, allowing teams to review, edit, and approve actions easily. Every decision logged is fully auditable, ensuring transparency and accountability, while also minimizing repetitive tasks.

Intelligent Collaboration and Control

A key feature of Billy is its inherent collaboration capabilities with finance teams. By integrating seamlessly into the P2P workflow, it provides suggestions for coding, matches purchase orders, and conducts fraud checks—all while documenting every step in compliance with audit requirements. Early detection of duplicates, mismatches, and vendor discrepancies helps prevent issues before they escalate, fostering a high level of control for finance teams.

Approvers now have access to complete context surrounding each transaction, including vendor histories and contract details, all captured in one platform. This integration facilitates quicker, more confident decision-making processes without sacrificing quality control.

A Comprehensive Solution

What differentiates Billy is its end-to-end automation that goes beyond invoice approvals. It streamlines the entire lifecycle—from the initial purchase request all the way to payment execution. With integrated features like Stampli Direct Pay and the Stampli Card, financial documentation remains aligned and updated in real time.

Each payment record retains its associated invoice, list of approvers, coding specifics, and audit history, providing finance teams with complete traceability from the submission of a request to final reconciliation.

About Stampli

Stampli empowers mid-market organizations by providing tools necessary for effective P2P processes and integrates AI through Billy to further enhance operations. The platform unifies procurement, invoice management, and payment systems, substantially reducing manual tasks while keeping teams in complete command.

With an expansive experience base drawn from over 83 million hours of finance process operations and lessons learned from billions of actions, Billy approaches tasks like a seasoned finance professional, offering fast implementations, established connections to major ERP systems, and tailored user experiences.

In partnership with companies, Stampli transforms P2P from a traditional back-office chore into a strategic asset that can drive business growth and success.

For more information about Stampli and its innovative AI solutions, visit stampli.com.