Stampli touts “human level” AI for purchase order matching

Finance operations platform Stampli unveiled Stampli Cognitive AI, featuring “human-level” purchase order matching as the first of what it says will be many applications of the new system in the future.

Using large language models combined with nearly a decade’s worth of data on invoice processing workflows, the model is said to understand the nuanced context of financial operations and replicates human decision-making processes.

POs and invoices can run into dozens or hundreds of line items, and discrepancies are routine. Accountants frequently need to deal with things like mismatched unit types, line items split across multiple deliveries (or deliveries that are missing entirely), plus other variables like tax, freight charges, credits, discounts, rebates and more. Each discrepancy requires careful investigation to resolve. Many midsize companies employ entire dedicated teams to manually reconcile invoices against purchase orders and documents.

Stampli said Cognitive AI for PO Matching approaches full automation of the matching process. In controlled tests, Stampli Cognitive AI reached the same conclusions as human operators 97% of the time, and Stampli expects that result to approach 100% as it gathers additional data from customer usage. This is in contrast to the more typically used “proximity algorithms” to reconcile clear matches, which Stampli estimates to only have a 20-40% success rate.

“Cognitive AI thinks and reasons through complex financial scenarios just like an experienced AP professional,” said Eyal Feldman, CEO and co-founder of Stampli. “This level of human emulation has never before been achieved in financial software.”

 Stampli’s Cognitive AI for PO Matching is now available as an add-on service for Stampli customers who use Oracle NetSuite, Sage Intacct and SAP, with support for additional financial systems coming in weeks.

Additional applications for Stampli’s Cognitive AI are expected in the near future.

The technology will be demonstrated during an online event on Sept. 18. Users can register at Stampli.com/cognitive.

Prior to this announcement, Stampli became the first Sage Intacct “Fintech Plus Tier Marketplace Partner” for AP automation to have a validated specialty in Sage Intacct Construction (See previous story). Now businesses can automate their AP processes using a combination of Sage Intacct Construction and Stampli.