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On Wed, 22 Jan, 8:01 AM UTC
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Springbrook Launches Powerful New AI Tool to Streamline Local Government Invoicing
Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter AMERICAN FORK, Utah. , Jan. 21, 2025 /PRNewswire/ -- Springbrook Software, the leading developer of enterprise-class ERP solutions for local government, today announces the release of advanced AI technology designed to transform invoice processing -- a major source of manual inefficiencies for municipalities. The new technology is part of Springbrook's fully integrated, cloud-based Cirrus financial platform. This innovative tool enables Springbrook users to upload invoices, which are automatically read and processed by the AI Document Reader. The system extracts critical information -- such as vendor details, dollar amounts, invoice numbers, and dates -- and creates comprehensive invoice records in Cirrus. The AI-powered tool also links invoices to the appropriate vendor records, eliminating the need for manual searches and data entry. After selecting the applicable GL account for payment, the AI Document Reader manages all tasks, including attaching scanned invoices to records. Invoices processed through Springbrook's AI Document Reader remain secure. Springbrook does not store or use invoices for model training, ensuring customer data privacy and security. The AI tool has already received enthusiastic feedback from early adopters: "The ability to use AI will be a huge advantage to my organization. My job just got easier!'" Finance Manager at a medium-sized municipality. "I was impressed with the feature! The AI matched vendors and seamlessly pulled dollar amounts, invoice numbers, and dates." Senior Finance Manager at a medium-sized municipality "Springbrook's goal is to eliminate the burden of manual processing by developing innovative, secure, and easy-to-use tools," said Robert Bonavito, CEO of Springbrook Software. "We are thrilled to offer a solution that significantly reduces administrative workload, enabling our customers to focus on delivering critical services to their communities." Visit https://springbrooksoftware.com/solutions/finance/ for a video walkthrough of the tool. To schedule a demo visit https://springbrooksoftware.com/contact . About Springbrook Software Springbrook Software produces an enterprise-class financial ERP platform for local government agencies. As an industry leader, Springbrook empowers over 3,000 municipalities, towns, and districts across the U.S. and internationally to streamline financial management, utility billing, payroll, human resources, budgeting and citizen engagement. With its cutting-edge, cloud-native Cirrus ERP platform and integrated advanced tools like AI-powered automation and robust reporting, Springbrook is revolutionizing how governments manage their operations. Headquartered in American Fork, UT, Springbrook is committed to driving efficiency, transparency, and innovation in public sector finance. For more information, visit www.springbrooksoftware.com. MEDIA CONTACT: Steve Lundin steve.lundin@sprbrk.com View original content to download multimedia:https://www.prnewswire.com/news-releases/springbrook-launches-powerful-new-ai-tool-to-streamline-local-government-invoicing-302355867.html SOURCE Springbrook Software Market News and Data brought to you by Benzinga APIs
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Springbrook Adds AI Tool for Invoicing to ERP Platform | PYMNTS.com
Springbrook Software added an artificial intelligence tool for invoicing to its Cirrus enterprise resource planning (ERP) platform for local governments. The new AI tool eliminates the burden of manual invoice processing, which is a source of inefficiencies for municipalities, the company said in a Tuesday (Jan. 21) press release. "Springbrook's goal is to eliminate the burden of manual processing by developing innovative, secure and easy-to-use tools," Springbrook Software CEO Robert Bonavito said in the release. The company's AI Document Reader automatically reads and processes invoices uploaded by users, according to the release. It extracts critical information, creates invoice records in Cirrus, links invoices to the appropriate vendor records, and, after selecting the applicable general ledger (GL) account for payment, manages all tasks, such as attaching scanned invoices to records, the release said. The invoices are not stored for model training, so customer data remains private and secure, per the release. "We are thrilled to offer a solution that significantly reduces administrative workload, enabling our customers to focus on delivering critical services to their communities," Bonavito said in the release. Small local governments tend to prioritize timely payments to their suppliers because many of those suppliers have personal relationships with city personnel, Mark McClenahan, who was payments manager at Springbrook at the time, told PYMNTS in an interview posted in January 2020. "As a mayor, I might go to the same church as the sand supplier for my icy roads," McClenahan said. "If I have a terms code of net 30, I'm going to make sure I pay the guy I go to church with by net 30." Business leaders are turning to AI as a solution for their accounts payable (AP) cycles, according to the PYMNTS Intelligence report "Automating Accounts Payable for Cost Savings." The report found that 78% of chief financial officers said the integration of AI into their AP processes is important, 73% said it contributes to overall savings and growth, and 85% said it leads to more accurate and efficient processes. The advantages of automating AP processes include reducing the risks associated with fraud, gaining cost savings and improved cash flow management, and seeing enhanced data analytics capabilities, according to the report.
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Springbrook Software introduces an AI-powered invoice processing tool as part of its Cirrus ERP platform, aimed at streamlining financial operations for local governments and municipalities.
Springbrook Software, a leading developer of enterprise-class ERP solutions for local government, has unveiled a groundbreaking AI-powered tool designed to revolutionize invoice processing for municipalities. This new technology, integrated into Springbrook's cloud-based Cirrus financial platform, aims to address a significant source of manual inefficiencies in local government operations 1.
The AI Document Reader, as it's called, offers several advanced capabilities:
Importantly, Springbrook emphasizes data privacy and security, stating that processed invoices are not stored or used for model training 2.
The introduction of this AI tool is expected to significantly reduce the administrative workload for local government finance departments. Robert Bonavito, CEO of Springbrook Software, highlighted the company's goal: "to eliminate the burden of manual processing by developing innovative, secure, and easy-to-use tools" 1.
Early adopters have responded positively, with finance managers from medium-sized municipalities praising the tool's efficiency and ease of use. One user noted, "The ability to use AI will be a huge advantage to my organization. My job just got easier!" 1.
This development aligns with a growing trend of AI adoption in financial processes. According to a PYMNTS Intelligence report, 78% of chief financial officers consider AI integration in accounts payable processes important, with 73% believing it contributes to overall savings and growth 2.
The advantages of such automation extend beyond mere efficiency, potentially reducing fraud risks, improving cash flow management, and enhancing data analytics capabilities 2.
Springbrook Software, headquartered in American Fork, Utah, serves over 3,000 municipalities, towns, and districts across the U.S. and internationally. Their Cirrus ERP platform, which now includes this AI-powered invoice processing tool, is part of a suite of solutions designed to streamline financial management, utility billing, payroll, human resources, and citizen engagement for local governments 1.
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