Genpact Revolutionizes Financial Processes with New AI-Driven AP Suite

Genpact, a leading global technology services firm, is pushing the boundaries of accounts payable (AP) with the launch of its new AP Suite, designed to streamline financial operations. With advancements in technology and innovative solutions, the Genpact AP Suite leverages agentic artificial intelligence to enhance efficiency and optimize relationships with suppliers.

This groundbreaking suite includes four specific modules named AP Capture, AP Advance, AP Trace, and AP Assist. Each module features a unique network of AI agents that work autonomously to manage the intricate aspects of accounts payable. By utilizing pre-trained and self-learning AI, the suite improves the AP process, intelligently validating invoices, enhancing touchless processing, and adapting to evolving business needs such as changes in supplier terms and tax regulations.

Jinsook Han, Genpact's Chief Strategy Officer, emphasizes the transformational nature of their solutions, stating, "The Genpact AP Suite not only addresses inefficiencies but also elevates finance from a traditional cost center to a pivotal strategic partner in driving business growth." The solution is built on Microsoft Azure's AI framework, providing a robust and secure environment for enterprises to rely on for their financial transformations.

The Genpact AP Suite has already shown significant results for clients, offering benefits like improved accuracy in data capture, enhanced productivity through touchless processing, and increased cash visibility. For instance, users have reported capturing up to 90% of early payment discounts, significantly improving financial outcomes.

Genpact prioritizes supplier relationships, and the efficiency the AP Suite brings fosters stronger partnerships. High-speed processing and automated resolution of supplier queries have been noted as key advantages that clients are increasingly depending on in today’s fast-paced market environment.

Caitlyn Carr, President and CEO of Coca-Cola Bottlers Sales Services, praised this innovative approach noting, “Working with Genpact, we have established a seamless experience for our bottlers and suppliers, demonstrating how advanced technology can redefine operational excellence.”

Powered by Azure’s AI Foundry, the Genpact AP Suite represents an evolution in finance, effectively automating multi-step workflows and establishing a new standard for achieving operational excellence in accounts payable. The synergy between AI and human intervention creates a comprehensive system that is both efficient and adaptable.

Vignesh Kannan, Vice President of Everest Group, identified the ongoing challenges in adapting current AP technologies. He states, "Genpact’s approach addresses the limited flexibility of existing technologies, enabling businesses to thrive in a dynamic environment. The AP Suite empowers users to manage tasks like exception handling with unprecedented simplicity."

The introduction of the Genpact AP Suite signifies a broader movement towards agent-based service delivery in financial processes, ensuring that enterprises can innovate while maintaining compliance and effectiveness. With this suite, companies can expect not only to enhance their AP operations but to fully embrace a future steeped in autonomous finance solutions.

To discover more about Genpact’s innovative AP Suite and how it can benefit your organization, visit www.genpact.com/ap-suite.

In conclusion, Genpact continues to lead the charge in transforming financial workflows, utilizing agentic AI and cutting-edge technology to create impactful solutions. As businesses tackle the complexity of financial operations, implementing such advanced tools will be essential for staying competitive and ensuring future success.