In today’s fast-paced business world, companies are looking for ways to streamline their financial operations and increase efficiency. This is where Arcanum’s AI-powered finance assistant, “Archie”, comes in.
It uses Workato to seamlessly integrate with other systems and automate workflows, allowing it to take over end-to-end tasks, such as AP reconciliation, invoice processing, and financial analysis and reporting. Moreover, it can use GPT when carrying out tasks, all but ensuring that it’s able to perform a wide range of work effectively.
You can even leverage Archie through an application in your business communications platform (e.g. Slack), where it can provide timely, critical insights and allow you to trigger and interact with workflow automations.
You can read on to learn how Archie can support and reimagine your financial operations.
Leverage GPT in your workflows
One of the most exciting things about our partnership with Workato is that it enables us to provide GPT-powered finance solutions.
This is a game-changer for our clients, as it means that they can harness the power of GPT securely, privately, and without having to write a line of code.
Here’s just one example of how it can work:
1. Within an app like Slack, you type in the command “/Archie” to access all of the tasks he can perform.
2. Once you select a task, such as writing a financial report, and specify the information you need, Archie pulls together the relevant data from your accounting software and then uses GPT to write up the report.
3. Archie sends you a Slack message that includes a short blurb from the report. Within the message, you can also click “view” or “download” to see everything he put together.
Another powerful use case for Archie works as follows: You send him your invoice and purchase order data and he’ll share a report that shows the count of matches and mismatches; he can then use GPT to draft personalized emails for suppliers in your selected tone of voice that asks them to address the discrepancies between the two documents (assuming any exists).
Automate your financial processes end-to-end
As Archie is able to take over end-to-end financial tasks, clients no longer have to worry about manually reconciling accounts payable, processing invoices, or performing financial analysis and reporting. Instead, using AI and GPT, Archie can do all of these tasks automatically, freeing up valuable time and resources for clients to focus on more strategic initiatives.
For example, one of Arcanum’s current customers, Core Loyalty, is implementing intelligent invoice processing to optimize their efficiency. They’re aiming to process invoices faster (e.g. 3 to 4 invoices per minute) and with greater accuracy (e.g. 90%+ accurate), which they believe would improve user satisfaction.
Our plans for Archie
With Workato supporting Archie’s capabilities, we are able to offer a truly-comprehensive solution for financial operations. However, we’re not stopping there.
We plan to take Archie’s capabilities to the next level. For example, Archie’s current ‘Junior’ capabilities include sorting emails, invoice processing, AP reconciliation, and contract reviews. We plan to up-skill Archie with ‘Intermediate’ skills, which include the ability to carry out tasks, like budget updates, activity analysis, performance updates, and compliance plans. And, alongside Archie, we plan to introduce an AI-powered sustainability assistant that focuses on assisting with tasks like ESG reporting.