Vic.ai is an artificial intelligence (AI) platform for accounting firms and enterprise finance departments. It develops artificially intelligent accounting software that automates accounting and uses data to offer insightful analysis and advice. It serves professional services, real estate, insurance, education, and hospitality industries. It was founded in 2017 and is based in New York, New York.
Vic.ai's Product Videos
Vic.ai's Products & Differentiators
Autopilot (Invoice Processing)
Intelligently selects invoices and expenses that meet a certain confidence level and automates them so that they are immediately sent to the approvers without requiring any data entry or classification review by a human beforehand. This includes everything from vendor identification to cost and dimensional classifications on a line item level.
Expert Collections containing Vic.ai
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Vic.ai is included in 4 Expert Collections, including SMB Fintech.
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Latest Vic.ai News
Nov 20, 2023
While the world is dreaming of big problems AI might solve, business leaders should look to use the technology to address specific company pain points, writes Vic.ai’s Anand Desai. Published Nov. 20, 2023 ipopba via Getty Images Anand Desai is vice president of finance at New York-based Vic.ai, a provider of tools for automating accounts payable processes. Views are the author’s own. Over the past two years, the economics in every industry have grown more challenging. Rising interest rates mean capital is more expensive. Shrinking budgets mean there are smaller wallets in which to gain share. The bar for high performance and desirable returns has risen. For the survival of their businesses, finance leaders have had to step up their game and must continue to adapt — in 2024 and beyond. A New Level of Strategy Today’s CFO must be more strategic and forward-thinking than ever before — becoming something of a Chief Future Officer, if you will. Finance leaders need a deep understanding of the economics of their business far beyond just how the company is performing. They must understand how customers engage with their product, what competition looks like, and what levers drive efficient performance. No one else has better visibility than the CFO into the factors of an organization that can build value. And more than ever, artificial intelligence is helping CFOs develop those strategic insights. AI has accelerated how quickly finance leaders can incorporate new information on business performance, generating richer and more insightful business outlooks. AI also presents finance leaders with tools to better understand and preempt risks, preserving optionality in the way they allocate capital and stay ahead of difficult decisions waiting around the corner. Constructing the Pyramid But how can CFOs start engaging AI? It helps to picture all the tasks and processes of an organization in the shape of a pyramid. In identifying where to implement AI, CFOs should start at the bottom of the pyramid. While the world has been dreaming of all the problems advanced AI might someday solve, today’s best AI solutions are trained to solve very specific pain points, and business leaders should stitch those tools together into a bespoke solution for their company and industry. The low-hanging fruit is repeated tasks: if CFOs can automate and offload data entry-type tasks to an AI copilot, they can refocus resources toward the next level of value for the organization. From there, CFOs can continue moving up the pyramid — from operational tasks to more strategic tasks over time. AI is already helping finance leaders understand where they are in the overall lifespan of large investments and projects. Depending on the company’s level of maturity, AI can help CFOs enhance fraud protection, optimize investments, reduce the risk of costly compliance violations, strengthen customer service, perform risk assessments, and improve forecasting. Added together, AI can help CFOs shed light on the trajectory of their entire business, allowing them to address risks before they occur and pre-allocate resources for maximum performance and profits. Reaching the Capstone with AI As we adjust back to a world where capital isn’t free, finance leaders are having to return to the fundamentals. But AI is here to help. In fact, it’s becoming table stakes for efficient and effective business performance. The more CFOs can lean on technology to quickly and autonomously handle baseline operations, the more their organizations will have freedom and intelligence to focus on innovation and competition.
Vic.ai Frequently Asked Questions (FAQ)
When was Vic.ai founded?
Vic.ai was founded in 2017.
Where is Vic.ai's headquarters?
Vic.ai's headquarters is located at 32 Gansevoort Street, New York.
What is Vic.ai's latest funding round?
Vic.ai's latest funding round is Series C.
How much did Vic.ai raise?
Vic.ai raised a total of $113.2M.
Who are the investors of Vic.ai?
Investors of Vic.ai include GGV Capital, Costanoa Ventures, Cowboy Ventures, ICONIQ Capital and ICONIQ Growth.
Who are Vic.ai's competitors?
Competitors of Vic.ai include Tipalti, Coupa, Automation Anywhere, DOST, Kofax and 7 more.
What products does Vic.ai offer?
Vic.ai's products include Autopilot (Invoice Processing) and 1 more.
Who are Vic.ai's customers?
Customers of Vic.ai include HSB, Ignite Spot Accounting Services, Countsy and Furset Restaurant Group.
Compare Vic.ai to Competitors
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Hyperscience develops an intelligent document processing platform. It automates any types of business processes and provides solutions for industries such as financial services, insurance, healthcare, and government organizations. The company was founded in 2014 and is based in New York, New York.
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Stampli provides cloud-based interactive invoice management software for the accounts payable process and centralizes the communication on a specific invoice. The company integrates enterprise resource planning systems using an intuitive interface. The company was founded in 2014 and is based in Mountain View, California.
TAIGER operates as a company focusing on artificial intelligence (AI) solutions, operating in the technology and AI industry. The company's main services include an AI platform that automates document classification and data extraction, using generative AI technology to automate cognitive tasks. Its platform is designed to understand documents in multiple languages and allows users to create, test, and deploy their own models. It was formerly known as Playence. It was founded in 2009 and is based in Singapore.
AntWorks offers intelligent document processing and automation solutions. It uses proprietary artificial intelligence (AI) technology to unlock, classify and digitize vital data in the full range of business documents. The company was founded in 2015 and is based in Singapore, Singapore.