The procure-to-pay space is going through huge technology adoption, and AI is making its mark on it as well. This interview explores the nuances of the sector. Sramana Mitra: Let's start by having you introduce yourself as well as Transcepta to our audience. Shan Haq: I run Corporate Strategy and Development for Transcepta. My background is mostly in product management and marketing.

Transcepta, a procure-to-pay platform, is ramping up its use of artificial intelligence (AI), the company said late last week. In an announcement, the company said its leveraging of AI and predictive analytics technologies can enable smarter procurement decision making. "Artificial intelligence and predictive analytics are transforming business processes and setting the expectation from customers for seamless function and automation," said Transcepta CEO Ray Parsons in a statement. Its AI capabilities can enable invoice validation and processing features, with 99 percent accuracy in predicting data for missing fields on purchase orders or invoices, the firm said. Last month Euler Hermes inked a partnership with Flowcast to integrate AI into the trade credit insurance process in an effort to mitigate risk of B2B trade. The technology has also permeated across B2B FinTech, with companies like Xero, which operates a small business cloud accounting platform, also deploying AI.

ALISO VIEJO, CA--(Marketwired - Apr 6, 2017) - Transcepta, an artificial intelligence-driven platform providing brands with faster, smarter and more accurate procure-to-pay connectivity and collaboration, offers a range of solutions powered by artificial intelligence (AI) that deliver efficiency and profit gains for clients. The company's supplier network and associated applications are part of the broader trend of AI shaping not only high-tech applications, but also changing how companies make decisions. Transcepta offers a suite of services for clients and their suppliers that use machine learning and predictive analytics to improve accuracy, transaction delivery speed and decision making. Transcepta leverages predictive analytics and machine learning to create systems that are self-improving through the continual addition of data inputs over time. Its services are helping to streamline processes and boost the bottom line for some of today's leading companies.