AI-Powered Automation Solution for
Cash Management
Supercharge your financial operations with Itemize’s reliable automation, delivering 99% accuracy and improved efficiency.
Can AI Cut Cash Management Costs by 50%?
Cash management’s labor intensity has long frustrated bankers. A series of promising technologies have failed to deliver expected efficiencies.
Will AI suffer the same fate? Given previous disappointments, skeptical bankers are asking six key questions about AI’s potential in Cash Management:
Q1: Are there financial AI solutions in production delivering breakthrough efficiencies?
Yes, “Financial Transaction AI” (FTAI) is reducing mailroom and receivables costs by 50%.
Q2: Can AI be configured to satisfy bank and regulatory requirements?
FTAI avoids Gen AI & LLM’s risks, producing results that are fully auditable.
Q3: Can financial AI reduce data security and operational risks?
FTAI’s No-Hands automation reduces risk vulnerabilities.
Q4: What additional revenue and market share benefits are possible?
Customers value faster funds availability and richer transaction details, both enabled by FTAI.
Q5: What about Build vs Buy?
Via APIs, you can go live in months without capital investment, versus a three to five-year development project.
Q6: How quickly can the potential be sized and validated?
A POC with your data can validate the performance and economic benefits in just a few weeks.
Financial Transaction AI (FTAI) Platform
The Itemize Gen 4.0 Ensemble Processing Platform is now in production, the culmination of ten years of R&D in applying AI to financial transaction processing.
- Processed 75 million cash management transactions
- Handled $5 billion in value of live transactions
- Reduced customer manual labor by 75+%
- Reduced processing time per transaction to 15 seconds
- Achieved breakthroughs with a patent-protected Ensemble AI approach
- Supported clients with diverse transaction automation needs
Gen 4.0’s configurable AI solution can be rapidly configured to support client-specific requirements.
Recent POC Successes in Cash Management and Lockbox
Features and Benefits
Transform Accuracy and Efficiency with Automation
Comprehensive Document Classification
Automatically classifies invoices, statements, check stubs, and more with 99% accuracy
Real-time Data Extraction
Extracts data with 99%+ accuracy from various financial documents
Accelerated Processing Speed
Processes documents in just 15 seconds
Multi-language Support
Supports document processing in 16 languages
High Return on Investment
Provides a 5x average customer ROI by significantly reducing processing time and associated costs
High Compliance Standards
Fully compliant with SOC 2, PCI, GDPR, HIPAA, and EU-US Privacy Shield standards
Cloud-based Infrastructure
100% cloud-hosted on AWS with production and disaster recovery sites in the US and Europe
Significant Cost Reduction
Reduces costs by 50% and minimizes manual processing errors by 90%
Enhanced Integration Capabilities
Seamlessly integrates with existing procurement and financial systems
Customizable Processing Rules
Allows for customer-specific logic and item-level accounting codes for diverse business needs
Itemize Solutions
Wholesale Lockbox
Get the fastest image-enabled wholesale lockbox capabilities with Itemize. Streamline data capture from lockbox documents with secure, scalable automation.
Payables
Streamline and automate spend control with Itemize AP Automation. Reduce costs, maintain timely financial reporting, and ensure full visibility into spend.
Receivables
Process, classify, and verify invoices, statements, check stubs, Explanation of Benefits (EOBs), and more.
Frequently Asked Questions
What types of documents can Itemize process?
Itemize can process a wide variety of financial documents, including invoices, statements, check stubs, corporate checks, correspondence, EOBs (Explanation of Benefits), and envelopes.
How accurate is Itemize’s data extraction?
Itemize delivers extracted data with over 99% accuracy, leveraging advanced AI and machine learning algorithms to ensure high precision and continuous improvement.
How does Itemize ensure data security and compliance?
Itemize is SOC 2 certified, PCI certified, GDPR compliant, HIPAA compliant, and EU-US Privacy Shield approved.
Can Itemize integrate with existing financial systems?
Yes, Itemize seamlessly integrates with existing procurement and financial systems.
How does Itemize handle high-volume document processing?
Itemize’s scalable cloud infrastructure can process millions of daily documents, ensuring efficient handling of high-volume document processing needs.
How do Itemize solutions improve cost-effectiveness?
Itemize significantly reduces operational costs and processing times through AI-driven automation, minimizing manual data entry and errors, and achieving up to 50% cost savings for clients.
