Stampli's AI bot, Billy, extracts data from paper and PDF invoices and inputs it into a company's enterprise resource planning (ERP) application. The platform also checks the data for errors and compares supplier invoices against the associated purchase order and goods receipt. Stampli's platform can be implemented without major changes to an organization's ERP application and includes over 70 ready-to-use integrations with popular ERP products. The company also offers tools for managing suppliers and issuing corporate credit cards. As of now, Stampli's platform is used by over 1,300 organizations and processed invoices worth over $5 billion in August alone.
Key takeaways:
- Stampli Inc., an AI-powered accounting platform, has raised $61 million in a Series D funding round led by Blackstone, bringing its total outside funding to $148 million.
- The platform uses an AI bot named Billy to automatically extract invoice data and enter it into a company's ERP application, reducing the time involved in processing invoices by over 70%.
- Stampli's platform can be implemented without major changes to an organization's existing ERP application and includes over 70 ready-to-use integrations with popular ERP products.
- The company also offers tools for managing suppliers and issuing corporate credit cards, and its platform is currently used by more than 1,300 organizations.