SmartStream Inaugurates AI-Based Technology to Handle Exceptions

LONDON–(BUSINESS WIRE)–SmartStream, the provider of financial solutions for transaction lifecycle management (TLM®) today announces the release of SmartStream Air version 7 – to better control exception handling using advanced cloud-native AI technology. This is an industry first, with AI exception handling processes learning from user behaviors; it is designed to help reconcilers focus on other tasks, allowing companies to reduce the costs of managing their reconciliations.

SmartStream Air’s AI for exception handling will automatically complete fields, set labels, and run automations – all based on the processes it has learned. What’s more, it will be able to provide suggestions to the user or automate the process entirely – thereby dramatically improving STP rates.

To date, exception handling is controlled by users or by user-defined automation rules. Conversely, the new version is inspired by the daily actions of a user when handling exceptions and suggests how the attributes of exceptions should be filled. It will help the complex and tedious exception management process by learning directly from user actions or historical data – and when the pattern is mastered, AI can predict fields and workflows for exception management. exceptions.

Jethro MacDonald, Product Manager – Artificial Intelligence and Machine Learning, at SmartStream, says: “Our SmartStream Air version 7 will significantly reduce the time spent working on handling exceptions that result from mismatched data, or data integrity issues. data. The AI ​​technology will automatically classify the priority, assign it to relevant teams, add tags including statuses, and populate exception detail fields, allowing reconcilers to manage their work more efficiently. We are confident that we can meet market expectations and are proud to be the first to offer such capabilities. »

SmartStream’s goal is to integrate AI-powered exception management into its market-leading suite of middle and back-office processing solutions, which means its established customer base will experience the operational benefits. brought by advanced AI-based technology.

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contacts

For more information, please contact:

Shamira Alidina, Director of Media Relations, Dina Communications

Such. : +44 (0) 7801 590718

Email: [email protected]

Nathan Gee, Director of Marketing, SmartStream Technologies

Such. : +44 (0) 20 7898 0630

Email: [email protected]

For more information, visit: www.smartstream-stp.com

Source: http://www.businesswire.com/news/home/202210100051…

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