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Auditoria.AI Closes $6M Venture Round

By CIOReview | Tuesday, April 28, 2020

Auditoria.AI collects $6M in venture financing led by Neotribe Ventures, Engineering Capital, and Firebolt Ventures

Fremont, CA: Auditoria.AI releases SmartFlow Skills, a groundbreaking SaaS Solution that caters to the most frequent challenges presented in the enterprise finance back office. Auditoria, a pioneer in combining AI-based finance process automation with natural language-driven configuration and powerful recommendation analytics to produce a system of intelligent engagement for ERP applications. Auditoria closed $6 million in a venture funding round led by Neotribe Ventures, Firebolt Ventures, and Engineering Capital. 

SmartFlow Skills automates routine business processes that otherwise take more than a couple of days or even weeks while boosting surgical financial insights that provide better visibility and decision making. Despite the advances in financial applications technology, the enterprise finance back office at present lacks in the adoption of technology and is primarily manual. This creates friction between internal and external stakeholders, increases costs due to manual work, and needs extra attention for fixing errors. High demands are noted for the delivery of evidentiary data in severely constrained timelines to meet conventional GAAP audit requirements. 

"Almost every organization has sought the ability to intelligently automate their processes as part of their operational efficiency initiatives. While these efforts to automate often start with cost savings, the advent of artificial intelligence components such as natural language processing, computer vision, machine learning, and neural networks present opportunities to instrument fully autonomous capabilities that have strategic and long-ranging impacts," said R "Ray" Wang, principal analyst and founder, Constellation Research. "The future is about getting to precision decisions, which happens when you automate your transactions, you deploy artificial intelligence, and you create an autonomous enterprise."

SmartFlow Skills by Auditoria offers a highly dependable alternative to the conventional approaches to execute typical finance back-office processes, which result in significantly developed business resiliency. 

By using natural language-driven configurations, Auditoria SmartFlow Skills ephemerally automates finance business processes that are mission-critical, all while querying and reconciling data into financial systems of record. In Addition to this, SmartFlow, Skills comprises of modern machine learning 

"Auditoria SmartFlow Skills remove the friction, repetition, and wasted effort in the payables, receivables, FP&A, and audit functions within a typical enterprise," said Rohit Gupta, co-founder and Chief Executive Officer, Auditoria.AI. "For CFOs looking to identify hard-to-spot trends, accelerate predictive forecasting, improve business continuity, and make their accounting and back-office teams more productive and efficient than ever before, Auditoria offers a modern, AI-driven automation platform that supercharges their ERP applications while streamlining their planning and audit efforts."

See also: Top Artificial Intelligence Companies