AI Powered Platforms For Corporate Procurement & Accounts Payable Processes

Intellect Design Arena, a cloud-native fintech company has unveiled two platforms namely Corporate Procurement eXchange (iCPX)) and Accounts Payable eXchange (iAPX) using eMACH.ai finance platform.

iCPX is an open API-based source-to-pay platform for corporate procurement ecosystem.  iCPX embeds AI agents while fostering the API Economy.

Accounts Payable (AP) processing is the backbone of financial operations for all organisations to ensure efficiency in cash management function along with maintaining healthy supplier relationships.

The foremost challenges in Accounts Payable encompass handling a high volume of invoices in disparate formats and ensuring timely payments to suppliers, while ensuring compliance to all statutory
requirements.

iAPX is an AI-led accounts payable platform. iAPX eliminates duplication and discrepancies of invoices by up to 98 per cent through cognitive decision making, automating time-consuming repetitive tasks and content generation, iAPX, reduces time, cost and compliance concerns of enterprises.

Debanjan Kumar, chief executive officer (CEO) of iDTC said, “iCPX and iAPX will spearhead a transformative shift in corporate procurement efficiency and financial processes with our groundbreaking technologies composed of eMACH.ai. Intellect targets USD 30 to 35 million business with iAPX and iCPX by 2027.”