RobobAI unveils AI platform for optimising B2B payments

RobobAI, an Australian fintech company, has introduced an AI-driven platform designed to optimize enterprise working capital and supply chain payments.

In the face of economic uncertainty, improving B2B payment systems has become a crucial strategy for organizations aiming to enhance cash flow and leverage growth opportunities. Simon Ellis, Chief Sales Officer at RobobAI, explained that streamlined, transparent, and secure payment processes can offer significant benefits by improving liquidity, reducing payment delays, and strengthening the financial position of companies.

Ellis stated, "When companies invest in AI-powered solutions, they unlock the potential to transform how they manage working capital, mitigate risks, and uncover hidden savings within their operations." This suggests that AI can play a key role in optimizing financial processes within businesses.

B2B payment optimization, according to Ellis, should not be viewed merely as a finance function but as a strategic enabler of business growth. Efficient payment processes could enhance cash flow management, improve fraud prevention, increase operational efficiency, and strengthen supplier relationships. Ellis noted, "Efficient payment processes offer several advantages, including enhanced cash flow management, fraud prevention, operational efficiency, and stronger supplier relationships."

The utilization of AI allows large organizations to benefit from a central intelligence platform with increased visibility over spending, which enhances their ability to optimize working capital and improve B2B payment processes. The predictive analytics capabilities of AI enable businesses to optimize accounts payable, reduce operating costs, enhance visibility and control, and monitor key working capital metrics.

"Businesses need support in negotiating favorable terms with suppliers, automating payment workflows, and capturing early-payment discounts to strengthen cash flow," Ellis stated, emphasizing the transformative impact of automation on financial operations.

Further benefits of AI-driven solutions include reducing operating costs via payment process streamlining, renegotiation of supplier contracts, and routine task automation. This not only curbs costs but also maintains operational quality and efficiency. Additionally, accurate cash flow forecasting and inventory management facilitated by AI provide businesses with necessary insights for effective liquidity management and informed decision making.

AI analytics can also help businesses find hidden value in tail spend, which comprises low-value, high-volume transactions that, when left unmanaged, can adversely affect an organization's bottom line. "The benefits of AI-powered payment solutions extend beyond working capital optimization," commented Ellis. "They enhance supply chain visibility, helping organizations manage expenses more effectively across sourcing, logistics, and inventory."

The introduction of strategies like "cost out" measures is becoming a priority across industries due to economic pressures. By leveraging data-driven technology such as that provided by RobobAI, organizations can eliminate inefficiencies without compromising quality. These strategies assist in reducing unnecessary expenditure and improving profitability.

Finally, RobobAI's AI-powered payment solutions could potentially enhance supply chain resilience, allowing organizations to anticipate potential disruptions and build an agile supply chain to withstand market volatility. As a result, organizations that utilize technology to prioritize working capital optimization and payment transformation are better positioned for sustainable success.

Ellis concluded, "Organizations that leverage technology to prioritize working capital optimization and payment transformation position themselves for sustainable success."

This article originally appeared in CFOtech Magazine. Read the source article here.