Airbase, a procure-to-pay solution provider, has launched AI-powered Touchless AP. This new system aims to fully automate the AP lifecycle, from vendor onboarding to reconciliation.

The Touchless AP system includes AI-driven invoice processing and payment scheduling automation, real-time fraud detection, enhanced vendor management with automated tax and bank account validation, and comprehensive spend analytics for informed financial decision-making.

Airbase claims that its Touchless AP system will help finance teams streamline complex AP processes, reduce errors, ensure compliance, and allow them to focus on higher-value strategic work instead of manual, time-consuming tasks.

Analyst QuickTake: The AP automation industry is increasingly embracing AI, with more firms driving the trend to utilize advanced AI capabilities for touchless AP. In August 2023 , OpenEnvoy announced advancements to its AI-powered AP automation platform, followed in March 2024 by Basware's introduction of a touchless invoice processing discovery dashboard.