Why traditional accounting is no longer sufficient

For a long time, accounting was based on manual processes, spreadsheets, and rigid software solutions. However, with increasing demands for compliance, speed, and accuracy, classic systems are reaching their limits.

Typical challenges in invoice processing:

• Manual data entry: Finance teams must check invoices, set account assignments, and transfer data.

• Lack of automation: OCR solutions extract data but do not understand accounting logic.

• High time expenditure: Long approval processes and missing interfaces slow down accounting.

• Prone to errors: Typos, incorrect account assignments, and missing invoice associations cost companies time and money.

Read here about the 5 biggest hidden costs in invoice processing.

How AI is transforming accounting

The recent advances in Artificial Intelligence (AI) make it possible: Autonomous accounting systems take over repetitive tasks and increase efficiency and accuracy.

The advantages of AI in accounting:

✅ Automatic invoice verification: AI recognizes anomalies, validates data, and reduces errors.

✅ Intelligent account assignment: Invoices are automatically assigned to the correct cost centers and accounts.

✅ Faster approvals: Smart workflows speed up approval processes.

✅ Seamless ERP integration: AI works directly with existing accounting systems.

Taxel: The next generation of invoice processing

Taxel goes beyond simple automation. Our AI agents understand accounting processes, make intelligent decisions, and optimize workflows in real-time.

👉 Experience the future of accounting – try Taxel now: