Medius introduces two new solutions to expand accounts payable efficiency

Medius, a provider of AI-driven solutions for Accounts Payable (AP) automation, is introducing two new products: Medius Copilot for Accounts Payable Automation (APA) and Medius Supplier Conversations—designed to streamline and enhance the efficiency of AP processes, marking a significant milestone in the realization of the Medius Agent project.

The introduction of Medius Copilot and Supplier Conversations solidifies Medius's position as the industry leader in applying artificial intelligence to AP operations, delivering practical and transformative solutions for everyday business challenges, according to the company.

Medius Copilot is an intelligent assistant embedded within the AP automation application, specifically designed to assist invoice approvers, particularly those who are not AP experts. Medius Copilot enables users to ask questions about invoices, facilitating quick, efficient, and anomaly-free approvals. The tool reduces the time spent on chasing queries and minimizes the risk of delayed approvals, ensuring smoother and faster processing of invoices, according to the vendor.

By integrating Medius Copilot, organizations not only enhance their invoice approval process but also contribute to employee satisfaction and retention, addressing the high turnover rates in the finance sector.

“Medius Copilot is a transformative technology for approvers, helping them deal with exceptions quickly and efficiently. By providing immediate and relevant information, it empowers users to make informed decisions whilst reducing the burden on the AP team,” said Dan Ball, Chief Product Officer at Medius.

Medius Supplier Conversations addresses the time-consuming task of responding to supplier inquiries.

While these inquiries are general emails from suppliers looking to be paid, this randomized deluge of communications is a burden on finance teams that should be focused on making accurate payments and closing out the month. These teams are forced to choose between risking supplier satisfaction and making on-time payments, and they have an overwhelming load of tasks to keep businesses on track, according to the company.

This AI-powered solution automatically handles supplier questions, providing immediate and accurate responses via email based on supplier history, payment terms, and trading information. By significantly reducing the volume of queries reaching the AP team, it enhances the supplier experience and ensures timely resolution of concerns.

Both products leverage Medius's proprietary artificial intelligence, trained on $200 billion of annual transactions, to offer unmatched accuracy, transparency, and efficiency. These solutions embody Medius's commitment to transforming AP processes and delivering measurable outcomes that address the real-world needs of businesses. These innovations aim to make invoice processing as efficient and touchless as possible, freeing up valuable time and resources for more strategic tasks within finance departments, Medius said.

For more information about this news, visit www.medius.com.