Tech news: AvidXchange releases new AI agents

AP solutions provider AvidXchange launched new AI agents and enhancements for invoice and payment automation. The first is an AI Approval Agent that analyzes patterns from past decisions to help users assess how likely an invoice is to be approved. Drawing on historical data like invoice amounts and supplier details, the agent provides insights to approvers throughout the AP workflow, as well as transparency into how each recommendation was made; The second is an AI PO Matching Agent, which automates the process of matching line item details from invoices to purchase orders. Visual indicators provide insight into where the AI agent is assisting, which supports decision making while keeping customers in control. Finally, AvidXchange has expanded the AI capabilities within its Invoice Capture feature, allowing the software to continuously learn the unique patterns of the data across invoices, delivering approval-ready invoices. As the AI technology learns, it will apply those insights to future invoices.

Solver, a cloud-based extended FP&A solutions provider, released its industry solution designed to improve planning, reporting, consolidation and analysis in nonprofit organizations, including charitable, religious, educational, association, civic, social and foundation-related entities. Users can access forecasting and budgeting models that allow for varying funding sources, including grants, donations, contributions and fees; they can also make detailed cost allocation models allowing for financial, operational and personnel allocations to be made at any level, such as program, service, grant, cost center and activity. They can use a reporting module to access a spreadsheet-like report experience that provides self-service report viewing and drill-down on the data; common financial reports, including statement of activities, statement of financial position, and cash flow. A number of regulatory reports such as 990 and LM-2 can be supported in Solver. Custom dashboards and also be created based on a direct integration with Power BI and Tableau visualization tools. Users can create unlimited KPIs and set up benchmarking models to measure against similar organizations or against themselves, as well as view data on inputs and outcomes for funding sources, operational expenses, statistical data and personnel expenses. Full import/export functionality allows centralized views into data without the need to log into multiple data sources and use different reporting tools. Solver integrates with different data sources, including accounting software such as Acumatica, Sage, NetSuite and Microsoft, among others, as well as solutions in the nonprofit industry.

Accounting talent solutions provider CPAClub announced its Club 22 professional networks, named for CPAClub's 2022 founding, designed to deepen collaboration and relationships between accountants. Club 22 is built around localized groups to foster camaraderie and leadership development. Its inspiration draws from private clubs, but with a modern, professional feel. The initiative is built around three pillars: Chats, Chances and Changes. "Chats" are curated gatherings billed as a combination panel, podcast and TED Talk to foster real conversation in a relaxed, inspiring atmosphere in a specific venue. "Chances" are immersive experiences that challenge members to grow, whether through hands-on learning, behind-the-scenes access or unexpected encounters. Finally, "Changes" include local service initiatives, financial literacy and wellness campaigns, and shared experience support. Each squad will rotate through these experiences throughout the year. Club 22 is launching first in Southern California, with interest lists opening in other regions for future squad formation. The inaugural Club 22 Chats is scheduled for April 30, 2025 in Newport Beach, California, and will feature local leaders in accounting, finance and AI sharing their insights into how AI is influencing the profession. For more information, go to this link.