C2FO and Vic.ai team up for AI-powered invoicing solution
Global working capital platform C2FO has partnered with Vic.ai to provide its enterprise customers with an invoicing solution powered by artificial intelligence (AI) that the firm says can help increase gross margins, reduce payment cycles and improve ROI for accounting and finance teams.
Headquartered in New York City, Vic.ai aims to utilise AI to address “the most manual and inefficient task in accounting — invoice processing — to improve speed and scalability”.
The firm says its tech can cut customers’ total invoice processing time by 80%.
Kansas City-based C2FO claims to be the world’s largest platform for working capital. It says it currently serves over one million businesses across 160 countries and reduces the invoice-to-cash payment cycle by an average of 32 days.
“This partnership furthers our pledge to help businesses improve margins, expand access to working capital and drive growth,” says Allison Baker, senior vice president and head of partnerships at C2FO.
Aditi Charnoubi, Vic.ai’s chief growth officer, adds that the partnership will help businesses gain “complete cost insights and optimise spend based on industry benchmarks”.