As Ignite Spot has scaled with Vic .ai, they have put a group of similar clients on the Vic .ai platform. It’s easy to see how the artificial intelligence works as it learns from similar clients. But how does it work with different clients?
The following is an excerpt from our webinar, “Automating Accounts Payable (AP): How Ignite Spot Accounting Services Automates AP, Removes Human Error, and Improves Client Services.”
Working with Similar Clients
The next phase for Ignite Spot was all about pushing to the next level of their relationship with Vic .ai.
Ignite Spot onboarded about ten clients with standardized vendors and standardized expenses, who also had similar charts of accounts, curious to see what the time savings would be.
When the first client was uploaded, you go through the normal, standard learning process. Once an accounting partner like Ingite Spot gets to its third or fourth client, Vic.ai was reading with 90% to 100% accuracy on almost every single invoice.
Increasing AI Accuracy to 100%
By the time Ignite Spot's clients got to the tenth invoice, the accuracy was at 95% to 100%. This was fantastic because this reevaluated and re-validated the significance of what the system can do for accounting partners by utilizing some type of connection or utilizing similar pieces.
For Ignite Spot, being able to see this across a broad space was critical. It made it a whole lot easier to continue adding clients because Vic.ai saves a lot of time. And it’s still just early on. Vic .ai continues to work on accomplishing more for Ignite Spot in the months and years ahead.
The automation trend is really progressing quickly.
What role do you think automation will play in the future for your accounting firm? And in particular, what are you doing to stay competitive? Tell us your thoughts in the section for comments below.
To learn how Ignite Spot Accounting Services automates AP, removes human error, and improves client services, watch the webinar recording on “Automating Accounts Payable (AP).”