Project details:
AI (Artificial Intelligence) integration in accounting within an ERP system means embedding smart algorithms and machine learning models into financial modules of ERP software to automate, analyze, and optimize accounting processes. Instead of just storing data and generating basic reports, AI-enhanced ERP systems can learn from data, detect patterns, and make intelligent recommendations or decisions.
Accounts Management:
- AI Scans Purchase Invoices and extracts Data and automatically posts entries in to the Accounts Payable Ledger
- AI models analyze past inflow/outflow trends, predicts Cash flow needs and helps in Budgeting and Investment decisions
- Automatically generate customized reports (e.g., P&L, balance sheets, VAT summaries) and give recommendations (e.g., reduce cost in a specific area)
- Staff can ask questions like: "What was our GST liability last quarter?", Show pending Payments etc. and the Bots fetches real-time data from ERP