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Using AI to Improve Vendor Onboarding

January 3, 2024

Automation and risk management benefits AI can significantly streamline and enhance the vendor onboarding (supplier onboarding) process by automating various tasks, improving efficiency, and ensuring compliance. Here are several ways in which AI can assist in a vendor portal based vendor onboarding program: Implementing AI in vendor onboarding not only accelerates the process but also […]

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Big Changes in the Year Ahead

December 18, 2023

2024 could see a dynamic shift for back-office operations Two emerging trends will offer back-office operations the opportunity to become more efficient as well as become a greater asset to the enterprise based on the ability to quickly and accurately provide data and actionable business information to decision makers. The first trend is in technology […]

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Not All OCR Solutions are Created Equal

It’s all about understanding the content and process Understanding the documents is extremely valuable when setting up a successful AI OCR (Optical Character Recognition) solution. OCR technology is used to extract text and information from images or scanned documents, and its effectiveness depends on understanding the quality and relevance of the documents being processed. Here’s […]

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Transforming Your Financial Back-Office: Cost Center to Profit Center

Remember that transforming the financial back office into a profit center requires a well thought out strategic approach, alignment with organizational goals, and ongoing efforts to innovate and adapt to changing market conditions.  Start a discussion with ICG Consulting about your back-office goals or request a demonstration of ICG’s back-office automation solutions that can help you to transform your financial back-office. 

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The Power of AI in Accounts Payable

July 12, 2023

While the actual savings will vary depending on your company’s specific circumstances, industry and case studies have reported cost savings ranging from 20% to 50% or more in AP departments implementing AI-powered solutions.

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AI in Procurement

June 15, 2023

It’s all about the analytics! AI ( artificial intelligence ) can be deployed in numerous area to increase performance, lower supplier risk and decrease costs in procurement operations. Here are some key areas where procurement practitioners can utilize AI to make a significant impact in their operations: Overall, AI can significantly improve performance and lower […]

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AI Assisted Back-Office Applications

Where to leverage artificial intelligence AI-assisted applications can greatly drive financial back-office automation by streamlining processes, reducing manual effort, and increasing accuracy. Here are a few AI-powered applications that can be utilized in financial back-office automation: It’s important to note that while AI-assisted applications can automate several aspects of financial back-office operations, human oversight and […]

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AI in Data Capture and OCR

Artificial Intelligence (AI) plays a crucial role in data capture and OCR (Optical Character Recognition) applications, revolutionizing the way we process and extract information from various sources. For accounts payable (AP) departments and other financial back-office areas, AI assisted data capture can provide tremendous efficiencies and increased accuracy.

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