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Palette Software unveiled accounts payable (AP) automation technology that is designed for firms in the construction and engineering industries and run on the cloud, according to an announcement. In June, Centsoft introduced AP automation for companies in the construction sector.
Accounting plays a crucial role in the construction industry by ensuring efficient management of resources. It streamlines this process because it’s built natively on Salesforce. After all, there are significant costs involved across every job, the two biggest being materials and labor.
The bots use optical character recognition (OCR), natural language process (NLP), and self-learning functions in “altogether new ways,” the announcement stated. The company’s collection of AI bots for the APprocess now include bots for cost allocation, fraud detection, invoice reading and inbox managing.
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