Tech News: Digits launched AI product

Small-business finance workflow software developer Digits has launched Digits AI, which gives finance teams and accountants access to real-time financial planning and analysis and visualizations through a conversational interface — rather than configure and run time-consuming reports, they can simply ask, say, "What is my burn rate?" The generative AI engine that powers the tool has been trained on over $300 billion in small-business transactions, and Digits AI connects to QuickBooks and over 10,000 financial institutions to help it understand a business' entire history at the transaction level.

Vic.ai, a finance automation platform, announced the general availability of autonomous purchase order (PO) matching as part of the company's end-to-end invoice processing solution. The new autonomous PO matching feature uses AI for  2-way or 3-way PO matching, comprehending item descriptions similarly to humans but with superior accuracy and speed, surpassing rules-based tools by training on historical data and adapting in real-time. It can match complex documents like multi-line POs and invoices, multiple invoices to a single PO, or multiple POs to a single invoice, automate flagging when a line falls out of tolerance for further approval, consolidate the processing of PO and expense invoices into one system, and provide additional efficiency and accuracy improvements. Autonomous PO matching is available now.

American Express, via an integration with spend management company Payem, can now create and distribute on-demand virtual cards to employees, freelancers, candidates, or other authorized users for business payments and expenses in PayEm's platform using their existing American Express Card account. Card members can now automate reimbursement filing for employees; establish specific controls for each on-demand virtual Card payment, including spending limits, expiration dates, and allowed merchant categories; pay suppliers using on-demand virtual cards and take advantage of their American Express billing cycle to manage cash flow for their business until their card payment is due; and pay without the need for merchants to see or store their underlying American Express Card account number.