SMACC provides AI-enabled invoice processing that automates the capture of 30 data fields without the need for complex templates, significantly reducing manual entry time. The platform streamlines financial management by standardizing workflows and offering real-time insights into accounts payable, enhancing operational efficiency for businesses.
Funding
$5.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses still rely on manual invoice processing, which is time-consuming, error-prone, and costly. Extracting data from invoices and entering it into accounting systems requires significant manual effort, leading to delays and inefficiencies in financial management.
Solution
SMACC offers an AI-powered invoice processing platform that automates data extraction and streamlines accounts payable workflows. The platform uses machine learning to capture data from invoices without requiring predefined templates, reducing the need for manual data entry. SMACC automates financial account entries, provides account assignment proposals, and standardizes invoice processing, giving businesses real-time insights into their financials and improving operational efficiency.
Target Audience
SMACC is designed for small to medium-sized businesses and larger enterprises looking to automate their accounts payable processes and gain better visibility into their financial data.
Features
- AI-enabled data capture of 30 invoice data fields and item information
- Automatic financial account entry suggestions using AI
- Rule-based accounting for automating simple invoice processing tasks
- Customizable approval workflows to standardize processes
- Payment run feature to pay invoices on time and take advantage of discounts
- Supplier management database to maintain up-to-date supplier information
- Document management system for organizing and searching financial documents
- User management with view permissions and role assignments
- Integrations with Slack and Microsoft Teams