Auditoria.AI Extends Finance Cognitive Automation Market Leadership in 2022
Company Momentum, New Products, Integrations, and Partnerships Fuel Growth
SANTA CLARA, CA – MARCH 22, 2022 – AUDITORIA.AI, a pioneer in AI-driven automation solutions for corporate finance teams, today announced significant company growth at Shared Services and Outsourcing Week. This achievement includes greater than 200 percent customer growth, three new products for finance leaders, cutting-edge technology integrations, a $20M Series A financing, 14 new partnerships, and eight industry awards, underscoring the need for finance automation across the corporate back office.
“We have seen incredible success with our focused efforts to accelerate finance transformation,” said Rohit Gupta, CEO and co-founder of Auditoria. “Our customers, partners, team, and prospects have been instrumental to our explosive growth. In today’s market conditions with rising interest rates and global supply chain challenges, finance leaders are actively looking to digital technologies to accelerate cash performance and drive their transformation efforts. The rapid uptake we’ve experienced is a key indicator of what’s to come as we continue to transform the corporate finance back office.”
Customer Growth & Commitment
More than 130 global companies are now leveraging the power of Auditoria’s SmartBots, including innovative and disruptive industry leaders such as Armanino LLP, Arrive Logistics, Bring IT, Folio3, GoodData, LiveRamp, Otto Car, and UserTesting.
New Products for Finance Leaders
Auditoria announced several new products to further enhance the finance back office intelligent automation capabilities. These include:
Auditoria SmartPay, a first-of-its-kind B2B payments offering that brings AI, payments, and order-to-cash process automation in one user experience to allow enterprises to collect faster across the globe. Built in collaboration with Stripe, Auditoria SmartPay significantly expands Auditoria’s finance automation market leadership by providing enterprises with a wide range of secure, compliant, and automated options to collect payments globally across different currencies and payment methods from customers anywhere in the world.
Auditoria SmartGL delivers capabilities for autonomous supplier outreach to automate an accruals process using machine learning to accelerate the monthly close. With automated capabilities to create journal entries, estimate accrual expenses, support both purchase orders and purchase requisitions, automated matching with third-party data sources, and built-in reconciliation with the general ledger, SmartGL delivers an industry-first capability to automate the typically arduous and error-prone monthly accruals processing.
Auditoria SmartInsights, a real-time analytical application built on Snowflake’s Data Cloud ushers in a new era of surgical order-to-cash insights autonomously generated through analytical algorithms, providing real-time visibility of critical cash-centric indicators to finance teams.
Auditoria SmartInsights enables modern data engineering by automating continuous data ingestion of structured and unstructured data, streamlining data pipeline development and management, providing access to “ready-to-query” data, handling change data captures, and maintaining performance and scalability across a near-infinite number of concurrent workloads thanks to Snowflake’s multi-cluster shared data architecture.
All of these robust, real-time insights are able to be sliced and diced by role and persona, while having zero data scientists or SRE/DevOps burden and are now available to revenue accounting teams with Auditoria SmartInsights.
In 2021, Auditoria also strengthened its commitment to application and data security by becoming the first autonomous finance provider to receive SOC II Type II certification. With more than 60 controls, across Authentication, Identity and Access Management, Encryption, Threat Prevention, Vulnerability Management, Infrastructure Security and more, finance teams benefit from the peace of mind and assurance that their data is safe and secure while leveraging Auditoria’s SmartFlow Skills.
Series A Financing
Auditoria raised $20 million in an oversubscribed Series A round to usher in the era of zero-touch autonomous finance. Venrock led the round, with participation from Workday Ventures and existing investors, including B Capital Group, Engineering Capital, Firebolt Ventures, and Neotribe Ventures.
Leading Technology Integrations
Auditoria introduced several new back-office application integrations while extending existing major technology integrations to further streamline and automate back-office processes for finance and accounting. Auditoria achieved Oracle’s ‘Built for NetSuite’ status and integrated directly with Oracle ERP Cloud. Auditoria has also been certified as a Workday integration partner, acting as a system of engagement to dynamically prioritize worklists, streamline dunning notices, classify customer accounts, and handle helpdesk inquiries.
Auditoria also recently became a CoupaLink Verified Partner, with its SmartVendor offerings fully integrated and certified into Coupa’s industry-leading Business Spend Management solutions for Auditoria’s Invoice Data Extraction and Advanced Accruals SmartFlow Skills. Additionally, Auditoria continued to enhance its SmartFlow Skills Platform by integrating and certifying Sage Intacct and Bill.com’s 2021 and 2022 product releases, giving customers complete confidence when using these products together.
Auditoria has partnered with more than 14 accounting and systems integrator partners to drive global growth for the company, including RSM LLP, Eide Bailly LLP, Frank, Rimerman + Co LLP, Cognizant, and more. These partners leverage Auditoria’s cutting-edge SmartBots to augment collections processes, automate vendor management, and intelligently plan and improve cash performance.
Continued Industry Recognition
Auditoria has been recognized eight times over the course of the year as an innovative provider of cognitive automation solutions. Recognition includes one of the top Enterprise Software Startups by Constellation Research; being named to the Intelligent Apps Top 40 List; receiving the Shared Services Outsourcing Network Impact Award; winning the inaugural Pitch Event by Constellation Research; being named to the Constellation Research ShortList for AI-Driven Cognitive Applications for the second consecutive year; receiving the Hot Vendor designation by HFS Research; being hand-selected for the 2021 CRN Emerging Vendors List, and receiving the TiE50 Award.
Auditoria.AI increases finance teams’ speed, accuracy, and efficiency using intelligent SmartBots to automate manual and time-consuming Accounts Payable and Receivable processes while deriving greater cash position visibility. Purpose-built for finance, with advanced next-gen technology, Auditoria SmartBots integrate with systems of record and email boxes to act as a system of engagement to streamline collections, add controls to procurement spend, optimize vendor management, and handle helpdesk inquiries using automation. Auditoria integrates with industry-leading ERP and Financial applications, including Bill.com, Conga, Coupa, Oracle ERP Cloud, Oracle NetSuite, Sage Intacct, Workday, and collaboration tools such as Microsoft 365 and Google Workspace.
To see Auditoria SmartBots in action, schedule a demo today: https://info.auditoria.ai/request-a-demo