Payhawk Automates Invoice Retrieval with AI Agent to Streamline Finance Operations

Payhawk is offering a Financial Controller Agent feature capable of collecting supplier invoices 12 times faster than a human. Over 550 companies have activated Agent Fetch, its most adopted beta feature to date, which retrieves invoices autonomously instead of simply sending reminders to employees.

A significant reduction in processing times

Payhawk’s Financial Controller Agent has reduced expense submission times for supplier invoices by 46% since the beginning of the year. Retrieving invoices from online suppliers is a persistent challenge for finance teams. These documents are rarely provided at the time of purchase and are typically stored on supplier portals, requiring an employee to remember they exist, access the appropriate account, locate the document, download it, and link it to the correct transaction.

According to Payhawk’s estimates, the average time it takes for these invoices to be recorded in a company’s ERP system is 23.8 days. Thanks to systematic reminders sent by its agent, the company reduced this time to 12.6 days. Based on the results of the beta phase, Payhawk now aims to reduce the average time to just two days.

Functioning and results of the device

The Agent Fetch feature performs these tasks on behalf of the employee. Once a supplier account has been securely connected, the AI ​​agent accesses the portal, retrieves the invoice in question, extracts and encodes the information it contains, and matches it with the corresponding payment.

Over 550 companies have activated Agent Fetch in its beta version. After authentication, the agent successfully retrieved invoices autonomously in 68.6% of attempts. Agent Fetch is designed for online services and recurring supplier payments, including software subscriptions, advertising platforms, travel providers, cloud infrastructure, and online marketplaces.

This capability was verified via Cloudflare’s Verified Bots program, which authenticates the agent using cryptographic signatures as an authorized form of automated traffic rather than an unidentified bot.

According to Hristo Borisov, co-founder and CEO of Payhawk: “I spent a month traveling around the US and took over thirty Ubers. After each payment, the agent accessed the portal, downloaded the invoice, linked it to the transaction, and submitted it on my behalf. I didn’t have to do a thing. Retrieving invoices from supplier portals delays the month-end closing, reduces real-time visibility, generates incomplete audit records, and can prevent companies from reclaiming VAT.

While receipts for card payments at a physical point of sale are typically provided in less than five business days, retrieving invoices from supplier portals takes almost five times longer. We’ve made it our mission to automate all the time-consuming processes that Finance teams and their employees face by combining payment management and AI.”

Payhawk is a platform offering expense management solutions for medium and large businesses in the United States, the United Kingdom, and Europe

Payhawk helps them manage and automate their financial processes while maintaining visibility and control over their business expenses. By consolidating corporate cards, expense reports, and supplier invoices, and offering integrations with ERP, accounting, and HR systems, Payhawk serves clients in over 32 countries.

The company has offices in New York, London, Paris, Berlin, Barcelona, ​​Amsterdam, Vilnius, and Sofia, and its clients include companies such as Loft Orbital, Akur8, Zenchef, Harmattan IA, Believe, and Resilience.

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First published in Finyear. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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