Fintech
Auditoria.AI and Workday expand partnership
A pioneer in automated, AI-driven smart apps for finance, AUDITORIA.AI AND Workday, Inc. (NASDAQ: WDAY) Ventures partner, today announced a new agreement with Workday to improve vendor management and accounts payable operations for customers. The reseller partnership will provide a comprehensive AI solution to enhance and simplify specific accounts payable (AP) and general ledger (GL) functions to complement Workday Financial Management capabilities.
Introducing Auditoria.AI SmartBots for Workday with AP Helpdesk and AP Accruals
Workday and Auditoria.AI are collaborating to bring impactful AI-powered solutions to market to advance corporate finance. By offering Auditoria.AI SmartBots for Workday, customers gain access to Auditoria’s AP Helpdesk and AP Accruals use cases to further simplify and streamline their accounts payable work integrated with Workday Financial Management. Auditoria’s intelligent SmartBots are pre-trained to function as “co-pilots” that understand financial and accounting terminology to streamline management of inbound AP emails, summarize detailed email extraction information such as intent detection , responses and activities and speed up month-end closing. It streamlines workflow for financial professionals, protects against inaccurate or fraudulent activity, and dramatically simplifies communication with vendors.
“We are excited to announce our expanded partnership with Workday, making Auditoria’s AI-powered solutions available directly through Workday,” says Rohit Gupta, CEO of Auditoria.AI. “With AI playing a critical role in shaping the future of finance, we are working closely with Workday to transform operations in the finance office. Powered by LLM, specialized Small Language Models, and machine learning, Auditoria.AI SmartBots for Workday enables finance teams to take control of their accounts payable and accrual processes, but also gives them the competitive advantage to refocus their time on critical strategies and analysis.”
Auditoria.AI SmartBots for Workday include:
- AP Helpdesk by Auditoria, which uses SmartBot to streamline vendor email processing and request fulfillment using natural language technologies and generative AI.
- Auditoria’s AP Accruals SmartBots collect month-end vendor data, monitor shared inboxes, and streamline your monthly vendor accrual task. This gives teams the advantage of closing the books more quickly while gathering audit-ready evidentiary data to meet companies’ compliance requirements.
- Workday’s touchless invoice processing capabilities, such as email ingestion and optical character recognition (OCR), intelligent invoice coding, and work queues, use artificial intelligence to accurately read and interpret invoice data, speeding up processing times and continuously improving accuracy.
“We are excited to partner with Auditoria.AI to help finance departments streamline their accounts payable operations with the help of artificial intelligence.” says Andrew Kershaw, General Manager, Workday Financials at Workday. “By combining Auditoria.AI’s expertise with the Workday platform, we are redefining the future of finance operations, enabling teams to focus on strategic value while optimizing critical processes.”
Customers are seeing exponential improvements in the productivity and efficiency of accounts payable teams managing their accounts payable inbox, allowing them to reduce processing times, reduce errors and decrease invoice processing costs. These capabilities will also help reduce close times and eliminate manual and error-prone vendor outreach processing.
“Our goal at Denny’s is to increase the efficiency of our internal teams by allowing them to spend more time on strategic thinking and analytical activities,” shared Jay Gilmore, Senior Vice President – Chief Accounting Officer and Corporate Controller at Denny’s. “Auditoria proved to be the optimal solution for automating and simplifying our most cumbersome back-office operations. Thanks to Auditoria’s advanced GenAI technology and seamless integration with Workday, we are now able to handle high volumes of emails and invoices. This has significantly improved control and led to improvements in productivity, accuracy and standardization across our accounts payable department.”
“It is becoming increasingly clear that partnerships are the linchpin to creating AI-driven transformative change for the office of the CFO,” says R “Ray” Wang, founder, president and principal analyst at Constellation Research. “Customers want to see their technology partners work closely together to bring game-changing solutions to market. In an era characterized by rapid change and digital transformation, these partnerships represent the impetus for innovation and efficiency, ushering in a new era in which financial professionals focus on strategic value-added activities while sophisticated technology helps manage the tactical side.”
“Our minority investment in Auditoria.AI provides KPMG with the opportunity to assist our clients in using artificial intelligence and unlock the additional potential of their Workday financial management systems,” says David Cousineau, Workday Financials Practice Leader and Principal at KPMG LLP. “Auditoria.AI SmartBots are at the forefront of streamlining and optimizing financial processes, including vendor email management and processing large volumes of AP requests.”
In addition to launching Auditoria.AI SmartBots for Workday, Auditoria’s AP Helpdesk and AP Accruals are Workday certified and featured on the Workday Marketplace. Workday Financial Management customers can contact their account executives for more information about this offering.