AI in accounts payable: risks for manufacturers in 2024

1 December 2023, America 10:30 am - 12:00 pm BST

How do you automate AP processes to improve efficiency, visibility and prevent fraud?

Manufacturers across the globe are looking to AI to drive business improvement within their AP functions. But three core themes stand out:

1. Inertia and Change Management
For some, the challenge of driving adoption among AP staff is more difficult than the integration of technology. For others, the journey towards AI doesn’t fully meet business needs, leaving them in a state of inertia. However, the impact of doing nothing comes at a huge cost, from wasted time and resources, high attrition rates, low productivity, inefficiency and lower profitability – not to mention losing out to competitors. So, how, when and why should we step into AI to combat these two states of being?

2. Lack of visibility and siloed systems
Disparate systems and siloed data make forecasting and consolidation a complex and manual process. This can have a huge impact on optimising cash flow and managing costs, particularly when several ERPs or business entities are involved. Too much time is spent manually inputting data into different systems to prepare monthly reports, making it vulnerable to human error. So, how can we leverage AI to improve visibility in systems of record and gain an accurate view of costs in real time?

3. Fighting AI-powered fraud
Generative AI brings with it a brand-new generation of invoice fraud. Criminals will be able to generate and send tens of millions of invoices directly to mailboxes, leaving finance departments vulnerable. The answer? To fight fire with fire and use AI as a defence against AI-powered invoice fraud by identifying anomalies and validating against PO data, the single source of truth.

Join Rossum in a virtual roundtable to find out more. Share best practices with your industry peers in this Meet the Boss roundtable.

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Event host

Tomas Gogar

Co-Founder and CEO
Tomas Gogar is the CEO and co-founder of Rossum, a cloud-native Intelligent Document Processing (IDP) find out more

About Rossum

Rossum is an Intelligent Document Processing (IDP) platform that takes your documents from start to finish, fast. Hundreds of companies across a variety of industries use Rossum to power their document processing operation. Combining advanced, AI-powered data extraction with streamlined validation workflows and automation capabilities, Rossum helps you process documents much faster than traditional solutions. Rossum. Your docs, done.

Cognitive, AI-based data capture for improved accuracy. Morton Salt saves 95% on its time spent per document.
Ergonomic validation interface for streamlined validation. Cushman & Wakefield chose Rossum for its user-friendly interface and flexibility.
Extensive automation capabilities for less manual work. Veolia reduced manual workload by 90%.

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Discussion topics

How do you reduce costs through greater visibility?

Are you mobilising and empowering teams with new capabilities and AI-powered automation?

Can you future-proof finance operations to mitigate risks from recent AI technology?

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Closed door, tailored conversations to benchmark, share and get better equipped to solve complex transformation projects.

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Meet industry leading like-minded executives tackling similar initiatives.

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"Very engaging on the right topics and with the right people, I very much look forward to (attending more) in the future"
Alex Boehme, CTO, H&M Group
"Since the session I did have several of the attendees reach out to me. We were able to grow our networks, connect together, share experiences, and I look forward to continuing those dialogs into the future"
Jeffrey Johnson, Vice President, Chief Information Security Officer and Chief Security Officer, Siemens Health Affairs for North America
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Dr Brian Letort, Fellow & Chief Enterprise Architect, Northrop Grumman
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Margaret Bond, Director of Cyber Security, Numotion
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Marty Sprinzen, Founder & CEO, Vantiq

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Collaborate and network to gain expertise and experience on how to best act and succeed


In-depth face time with the world’s leading tech companies pushing the boundaries to solve your challenges

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Meet with fellow industry leaders and solve today’s greatest business challenges.

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