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Product updates
Medius launches Medius Copilot and Medius Supplier Conversations for AP automation
Business Expense Management
Jun 27, 2024
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Business Expense Management

Business Expense Management

Jun 27, 2024

Medius launches Medius Copilot and Medius Supplier Conversations for AP automation

Product updates

  • Medius, a Swedish accounts payable automation and spend management company, has launched two new products: Medius Copilot for APA and Medius Supplier Conversations to improve and hasten AP processes.

  • Medius Copilot is an intelligent tool integrated into AP automation software, specifically made to aid invoice approvers. It is claimed to deliver quick responses to invoice-related queries to ensure fast, error-free approvals. Likewise, Medius Supplier Conversations is designed to handle supplier inquiries, giving immediate and precise answers based on supplier history, payment terms, etc.

  • The company claims that using Medius' in-house AI, these products will drastically streamline AP tasks, leading to increased efficiency, transparency, and accuracy. They are also expected to enhance supplier experience and increase job satisfaction and retention among financial professionals.

  • Analyst QuickTake: Medius has been at the forefront of leveraging AI and automation to streamline accounts payable processes. The latest development builds upon the company's previous AI-driven solutions. In June 2023 , Medius acquired Expensya, a company that uses AI to automatically populate expense reports and provide policy compliance guidance to employees. In November 2023 , Medius also deployed an AI-powered agent for accounts payable automation, streamlining invoice approvals with contextual information and proactive prompts. 

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