Tech News: Digits launched AI product

Digits launches Digits AI for small businesses; Vic.ai releases a new autonomous purchase order matching solution; American Express now offers virtual cards; and other accounting tech news.

Digits launches Digits AI for small biz

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Small-business finance workflow software developer Digits has launched Digits AI, which gives finance teams and accountants access to real-time financial planning and analysis and visualizations through a conversational interface — rather than configure and run time-consuming reports, they can simply ask, say, "What is my burn rate?" The generative AI engine that powers the tool has been trained on over $300 billion in small-business transactions, and Digits AI connects to QuickBooks and over 10,000 financial institutions to help it understand a business' entire history at the transaction level.

Vic.ai unveils autonomous PO matching

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Vic.ai, a finance automation platform, announced the general availability of autonomous purchase order (PO) matching as part of the company's end-to-end invoice processing solution. The new autonomous PO matching feature uses AI for 2-way or 3-way PO matching, comprehending item descriptions similarly to humans but with superior accuracy and speed, surpassing rules-based tools by training on historical data and adapting in real-time. It can match complex documents like multi-line POs and invoices, multiple invoices to a single PO, or multiple POs to a single invoice, automate flagging when a line falls out of tolerance for further approval, consolidate the processing of PO and expense invoices into one system, and provide additional efficiency and accuracy improvements. Autonomous PO matching is available now.

American Express rolls out virtual card services

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American Express, via an integration with spend management company Payem, can now create and distribute on-demand virtual cards to employees, freelancers, candidates, or other authorized users for business payments and expenses in PayEm's platform using their existing American Express Card account. Card members can now automate reimbursement filing for employees; establish specific controls for each on-demand virtual Card payment, including spending limits, expiration dates, and allowed merchant categories; pay suppliers using on-demand virtual cards and take advantage of their American Express billing cycle to manage cash flow for their business until their card payment is due; and pay without the need for merchants to see or store their underlying American Express Card account number.

Partnerships and integrations

Tax prep chain H&R Block is partnering with Microsoft to leverage its Azure OpenAI services and leading generative AI technology. This partnership means H&R Block gains access to some of the most advanced AI models in the world while continuing to maintain a focus on data security. … Cloud-based tax compliance solutions company Avalara announced the release of 51 newly certified integrations with accounting, ERP, ecommerce, point-of-sale, mobile commerce, and CRM software applications. These integrations include Accorto, ACUMEN Book, AIM Point of Sale, AppGallop, BCMI, BillMax Billing Solutions, Billwek+, Cart32, Commerce Layer, CoreCommerce, Corksy, and forty others. … New Zealand-based document management solutions provider SuiteFiles said it has extended its range of native integrations to include QuickBooks Online. … Value added reseller Net at Work said it has expanded its customer relationship management offering with the addition of Creatio to its solutions portfolio. Creatio offerings include a no-code platform, CRM applications (marketing, sales, and service), industry workflows for 20 verticals, and marketplace add-ons.

Other news

Value added reseller Net at Work announced it has acquired Paragon Consulting Group Inc., a Sage 300 ERP consultancy based in Chicago. Key members of the Paragon team will join Net at Work. … U.K.-based payments vendor Apron said it has recently raised a $5.5 million seed round and plans to use the funding to double down on product innovation and growth, including a specific focus on accounting partners. The recent $5.5 million raise was led by Bessemer Venture Partners, with angel participation from the founders of Melio and Klarna. ... Joanna Trimble has joined Caret (formerly AbacusNext) as chief revenue officer of Caret and president of HotDocs, and Charlie Anderson has joined the company as head of partnerships.