SmartAP is an AI-powered accounts payable (AP) automation platform designed for SMEs and mid-market firms. It leverages Foxit APIs to transform the manual, error-prone process of invoice handling into a streamlined, high-ROI digital workflow.
Manual invoice processing is a significant bottleneck for finance departments, leading to delayed payments and increased risk of fraud. SmartAP automates the lifecycle of an invoice — from ingestion and data extraction to reconciliation and final approval. By integrating Foxit's OCR and PDF technology with modern AI, SmartAP achieves high Straight-Through Processing (STP) rates, allowing teams to focus on strategic financial planning rather than data entry.
High ROI for Finance Departments
Automates labor-intensive tasks like manual entry and reconciliation, leading to significant cost savings.
High Straight-Through Processing (STP)
Achieves a 95.5% rate of automated processing in prototype, minimizing the need for human intervention.
Reduced Financial Risk
AI-powered detection flags potential fraud, duplicate billing, and discrepancies between invoices and purchase orders.
Enhanced Data Accuracy
Zero-shot extraction pulls line items and complex data automatically, reducing human error.
Scalability for Growth
Tailored to meet the needs of SMEs and mid-market firms looking to professionalize their finance workflows.
The application's intelligence is built on a foundation of high-performance document services:
Foxit OCR API
Converts scanned receipts and image-based PDFs into machine-readable text with high precision.
Zero-Shot Data Extraction
AI automatically identifies and extracts line items, vendor details, and tax amounts without pre-defined templates.
PDF Flattening
Ensures document integrity and security by merging form fields and annotations before final archiving or payment.