Verfi provides an AI‑driven accounting platform that automatically ingests, classifies, and reconciles financial documents from ERP and CRM systems, generating audit‑ready workpapers in a cloud workspace. The solution includes a secure client portal for real‑time document exchange and uses AI to flag anomalies, reducing manual data entry and shortening month‑end close cycles. Subscription pricing scales with transaction volume and feature access.
Funding
Funding not disclosed
Founders
Product
Problem
Finance and accounting teams spend extensive manual effort collecting source documents, reconciling cash, receivables, and payables, and assembling workpapers. Data is often fragmented across multiple ERP and CRM systems, leading to version confusion, spreadsheet reliance, and delayed month‑end close. The lack of automated document exchange further creates bottlenecks with clients and internal reviewers.
Solution
Verfi delivers an autonomous AI‑driven accounting platform that ingests and classifies financial documents, reconciles transactional data, and generates audit‑ready workpapers with minimal human intervention. The system connects to major ERP and CRM solutions, consolidating all accounting information into a single, cloud‑based workspace. An integrated client portal enables secure, real‑time document uploads and automatically tracks missing items, sending professional requests to external parties. AI models read, understand, and analyze documents, providing instant answers and flagging anomalies for review. Users supervise the process, reviewing outputs rather than performing repetitive data entry, which shortens the month‑end close cycle. The platform is delivered as a subscription service with tiered pricing that scales with transaction volume and feature access.
Target Audience
The primary customers are finance and accounting departments of mid‑size to large enterprises, as well as accounting firms that manage month‑end close and audit preparation for multiple clients. CFOs, controllers, and senior accountants seeking to reduce manual processing and improve data integrity are the main users.
Features
- AI‑powered document ingestion using OCR, natural‑language processing, and classification to extract structured data from invoices, receipts, and contracts.
- Automated reconciliation engine that matches cash, receivables, and payables across connected ERP/CRM systems and flags discrepancies.
- Dynamic workpaper generation with built‑in audit trails, supporting standard accounting standards and export to common formats (PDF, XBRL).
- Bi‑directional connectors for leading ERP/CRM platforms (e.g., SAP, Oracle NetSuite, Microsoft Dynamics, Salesforce) enabling seamless data flow without manual transfers.
- Unified web workspace with role‑based access control, real‑time dashboards, and customizable alerts for missing or out‑of‑balance items.
- Secure client collaboration portal that supports encrypted file upload, status tracking, and automated request emails driven by AI‑detected gaps.
- Cloud‑native architecture with end‑to‑end encryption, SOC 2 and GDPR compliance, and scalable compute resources to handle high transaction volumes.
- API layer for integration with downstream reporting, BI tools, and external audit platforms.