Stampli has announced a significant upgrade to its account payable (AP) automation platform, introducing a new purchase order (PO) matching service. This service is available as an add-on for Stampli customers using Oracle NetSuite, Sage Intacct, and SAP, with support for additional financial systems coming soon.

The upgrade combines traditional AI, GenAI, and business process modeling, which Stampli calls "cognitive AI." This approach aims to improve accuracy in matching POs and handling discrepancies in line items, quantities, prices, and other variables. The system uses existing large language models as a foundation and adds multiple checks and balances on top.

Stampli claims the new system achieves 97% accuracy for matching POs and can further improve with ongoing feedback. The company states that this enhancement can reduce the time for various AP processes by up to 90%, potentially allowing finance teams to focus on more strategic tasks such as activity-based costing and project planning.

Analyst QuickTake : Stampli’s recent product update adds GenAI to its AP automation platform, placing it alongside other companies integrating similar technology. In July 2024 , TranscendAP added AI and ML to its platform to improve workflows. Medius launched Medius Copilot and Medius Supplier Conversations in June 2024 , and, in March 2024 , HighRadius introduced its GenAI-driven automation suite for AP processes.