Tungsten Automation Launches InvoiceAgility Workflow Solution

Tungsten Automation (previously known as Kofax) today  launched  InvoiceAgility, a new network capture and e-Invoicing solution that simplifies accounts payable (AP) processes with AI-powered workflow automation. 

InvoiceAgility is said to combine the global scale of the Tungsten e-Invoice Network with the ability to capture incoming paper or image-based invoices through Tungsten’s AP Essentials cloud solution. The integration of key capabilities from this solution empowers AP teams to:

• Accelerate Invoice Processing: Accept paper, PDF, or image based invoices from any supplier anywhere, including countries with e-invoice regulations or mandates.
• Ensure Accuracy and Compliance: Validate invoice accuracy, tax compliance, and financial workflow rules to ensure invoice accuracy and speed processing through the AP processes.
• Obtain AI-powered Insights: Analyze supplier invoice trends and optimize cash flow with the Tungsten Copilot.

InvoiceAgility is said to deliver measurable time and cost savings. Research from Ardent Partners shows an industry average of $9 of labor and 9 days to process an invoice.  In contrast, Tungsten’s InvoiceAgility is said to reduce costs by 80 percent and process invoices in minutes, not days, significantly outperforming industry benchmarks.

The goal is straight through processing (STP) by using trusted automation to manage incoming invoices from receipt to payment without human intervention. Tungsten customers typically achieve levels beyond 90 percent STP, where nine out of ten invoices are received, validated, matched, and/or adjudicated with purchase orders and receiving documents and processed fully by InvoiceAgility.

To showcase the benefits of adopting AI-driven AP solutions, Tungsten Automation will host a webinar presentation featuring InvoiceAgility on August 22, 2024. To register for the webinar, and to obtain more information on InvoiceAgility, visit Tungsten here.

More Resources

• April 2024: Tungsten Automation Announces GenAI-Enhanced Document-Workflow Solutions
• February 2024: Tungsten Launches TotalAgility 8 with AI Enhancements
• January 2024: Kofax Rebrands as Tungsten Automation
• June 2022: Kofax Acquires Tungsten Business-Transaction Network