Infosys BPM Revolutionizes Invoice Processing with AI Agents

Infosys BPM Launches AI Agents in Invoice Processing | AIM

Powered by Infosys Topaz, the innovation redefines invoice processing by moving from a human-driven, AI-supported model to an autonomous AI-first approach, which ensures greater efficiency and accuracy. Designed to operate autonomously, the solution uses AI agents equipped with advanced decision-making capabilities to handle complex business scenarios with precision and speed, according to the company's press release. Autonomous AI-first approach enables end-to-end workflow management, allowing AI agents to handle dynamic processes, adapt to changing business logic, and perform intricate tasks with minimal human oversight. The new agentic AI-powered solution aims to boost operational efficiency significantly, enabling businesses to scale quickly and effectively. Powered by Microsoft's AI stack, the solution combines Azure AI Foundry and other LLMs with custom AI agents. The integration of Cognitive Services with Azure's platform-as-a-service (PaaS) offerings enables the delivery of scalable, intelligent, and enterprise-ready AI solutions. This solution was developed in close collaboration with Americana Restaurants, claimed to be the largest out-of-home dining and quick service restaurant operator across the Middle East, North Africa, and Kazakhstan, with more than 2,600 restaurants. Building on the successful deployment of the Accounts Payable on Cloud solution for Americana, Infosys BPM is now integrating agentic AI to make their invoice processing largely autonomous, further enhancing its efficiency and accuracy. Anantha Radhakrishnan, CEO and managing director of Infosys BPM, said in the release, "With the introduction of Agentic AI into the Infosys Accounts Payable on Cloud solution, we are redefining what is possible in the finance and accounting functional domain." He said that by integrating Infosys Topaz with a purpose-built multi-agent framework and Microsoft's AI stack, the company has developed a solution that is autonomous by design, responsive to change, and built to evolve. "This exemplifies our commitment to pioneering innovation and delivering unparalleled business value to enterprises worldwide," he added. Stephen Boyle, global leader of GSIs, ESIs and advisory partners at Microsoft, announced, "We commend Infosys BPM for launching Microsoft AI agents within its Accounts Payable on Cloud solution, showcasing AI's ability to streamline complex workflows and enhance critical business operations. This innovation underscores Infosys's transformative potential and sets the stage for intelligent automation to drive future business success." Meanwhile, Harsh Bansal, chief financial officer and chief growth officer, Americana Restaurants, stated in the announcement, "With AI-powered Infosys Accounts Payable on Cloud, we have made invoice processing faster, enhanced accuracy, and improved efficiency. The addition of Agentic AI takes this a step further, reducing manual dependencies and bringing more intelligence and autonomy into our invoice processing."

Infosys Adds AI Agents for Invoice Processing to AP Platform | PYMNTS.com

This solution makes invoice processing largely autonomous to enhance efficiency and accuracy, the company said in a Friday (May 30) press release. The solution includes the capabilities of the suite of generative AI services, solutions and platforms called Infosys Topaz, as well as Microsoft's AI stack, including Azure AI Foundry and other large language models (LLMs), according to the release. "By integrating Infosys Topaz with a purpose-built multi-agent framework, along with Microsoft's AI stack, we've developed a solution that is autonomous by design, responsive to change, and built to evolve," Anantha Radhakrishnan, CEO and managing director of Infosys BPM, said in the release. Infosys developed the AI agents in collaboration with Americana Restaurants, which operates more than 2,600 restaurants across the Middle East, North Africa and Kazakhstan, according to the release. "With AI-powered Infosys Accounts Payable on Cloud, we have made invoice processing faster, enhanced accuracy and improved efficiency," Harsh Bansal, chief financial officer and chief growth officer at Americana Restaurants, said in the release. "The addition of Agentic AI takes this a step further, reducing manual dependencies and bringing more intelligence and autonomy into our invoice processing." When AI is applied to accounts payable, AP teams are freed from the manual burden of keying data and chasing approvals, according to the PYMNTS Intelligence and Coupa collaboration, "Smart Spending: How AI Is Transforming Financial Decision Making." The report found that 38% of U.S. chief financial officers at large enterprises are actively using AI in the AP programs, and an additional 43% are interested in doing so. In August, Vault, which has since rebranded to Venn, released new functionality for its platform to help Canadian businesses automate vendor payments. The company said early testing showed businesses could reduce the time needed to pay their vendors by 70%. In May 2024, Financial Information Technologies (Fintech) expanded its platform's automated invoice processing capabilities to include all B2B transactions. The company said the expanded automated invoice processing can help businesses save time, reduce costs, improve accuracy and ensure compliance across their entire invoice database.

Infosys BPM Unveils AI Agents to Revolutionize Finance and Accounting Services

New Agentic AI-powered solution set to redefine accounts payable operations with significant efficiency gains, enhanced accuracy and improved user experience Infosys BPM, the business process management arm of Infosys (NSE, BSE, NYSE: INFY), today announced the launch of AI agents for invoice processing within its flagship Infosys Accounts Payable on Cloud solution. Powered by , the innovation redefines invoice processing by moving from a human-driven, AI-supported model to an autonomous AI-first approach, which ensures greater efficiency and accuracy. Designed to operate autonomously, the solution leverages equipped with advanced decision-making capabilities to handle complex business scenarios with precision and speed. Autonomous AI-first approach enables end-to-end workflow management, allowing AI agents to handle dynamic processes, adapt to changing business logic, and perform intricate tasks with minimal human oversight. The new Agentic AI-powered Accounts Payable on Cloud solution aims to boost operational efficiency significantly, enabling businesses to scale quickly and effectively. Powered by Microsoft's AI stack, the solution combines Azure AI Foundry and other LLMs with custom AI agents. The integration of Cognitive Services with Azure's Platform-as-a-Service (PaaS) offerings enables the delivery of scalable, intelligent, and enterprise-ready AI solution. This solution was developed in close collaboration with Americana Restaurants, the largest out-of-home dining and quick service restaurant operator across the Middle East, North Africa, and Kazakhstan, with more than 2,600 restaurants. Building on the successful deployment of Accounts Payable onfor Americana, Infosys BPM is now integrating Agentic AI to make their invoice processing largely autonomous, further enhancing its efficiency and accuracy. Harsh Bansal, Chief Financial Officer and Chief Growth Officer, Americana Restaurants, said, "At Americana Restaurants, we are committed to leading digital transformation, and as we scale our operations, intelligent automation is key to achieving greater efficiency and agility. With AI-powered Infosys Accounts Payable on Cloud, we have made faster, enhanced accuracy, and improved efficiency. The addition of Agentic AI takes this a step further, reducing manual dependencies and bringing more intelligence and autonomy into our invoice processing. We are delighted that we have pioneered this initiative with Infosys and look forward to closely working with Infosys BPM to lead us collectively into a future of smarter and more agile operations." Stephen Boyle, Global Leader, GSIs, ESIs and Advisories, Microsoft, said, "We commend Infosys BPM for launching Microsoft AI agents within its Accounts Payable on Cloud solution, showcasing AI's ability to streamline complex workflows and enhance critical business operations. This innovation underscores Infosys's transformative potential and sets the stage for intelligent automation to drive future business success." Anantha Radhakrishnan, CEO & Managing Director, Infosys BPM, said, "With the introduction of Agentic AI into Infosys Accounts Payable on Cloud solution, we are redefining what is possible in the finance and accounting functional domain. By integrating Infosys Topaz with a purpose-built multi-agent framework, along with Microsoft's AI stack, we've developed a solution that is autonomous by design, responsive to change, and built to evolve. This exemplifies our commitment to pioneering innovation and delivering unparalleled business value to enterprises worldwide."