ProcIndex

ProcIndex provides artificial intelligence agents that automate repetitive tasks in financial departments. These agents focus on Accounts Payable, Accounts Receivable, and reconciliation processes. They work with your current Enterprise Resource Planning or ERP system, reducing the need for manual work.

Benefits

ProcIndex agents operate around the clock, ensuring continuous processing. They can be connected to your existing ERP systems through an API, meaning you don't need to move your data. While the AI handles most tasks, humans review about 5% of cases that need a personal touch. This automation can handle the workload of nearly three full-time employees and has been shown to speed up customer payments by 27%.

Use Cases

The Reconciliation Agent helps match bank transactions with invoices and payments. It automatically sorts transactions, handles exceptions, and points out any differences. The Purchasing Agent manages purchase orders and relationships with vendors. This includes creating and tracking orders, keeping vendor information up to date, watching deliveries, and analyzing spending.

These AI agents can manage many financial tasks, such as capturing invoices, matching purchase orders to invoices, coding transactions to the correct accounts, and routing them for approval. For customer billing, they can send out invoices, follow up on payments, manage disagreements, and apply payments received. For reconciliation, they match bank records, sort transactions, help prepare for month-end closing, and keep a record of all activities for audits.

Vibes

ProcIndex reports that their AI agents achieve 94.7% straight-through processing, meaning most tasks are completed automatically without human intervention.

Additional Information

ProcIndex is supported by Y Combinator and has achieved SOC 2 Type II compliance, which is a standard for security and data protection.