Digital Finance Forum 2023

Speaker:
Dr. Uli Erxleben
Founder & CEO, Hypatos

Complimentary workshops
October 19, 2023
11:00 am CET
Vienna, Austria

FROM MULTI TOUCH TO NOTOUCH: How Artificial Intelligence
Revolutionizes the Accounts Payable Process at Energie Steiermark

Dr. Ulrich Erxleben, Hypatos | Ewald Muhr, Energie Steiermark

In a world shaped by technological advancements, businesses are increasingly striving to optimize and streamline their processes. The energy industry is no exception. Energie Steiermark, a pioneer in the field, has embarked on a journey to revolutionize the accounts payable process using Next Gen AI from Hypatos.

The Evolution from Multi-Touch to NoTouch

The traditional approach of the multi-touch system, requiring various manual steps, is now replaced by an innovative NoTouch approach. This approach enables nearly automated processing of accounts payable, saving time, minimizing errors, and freeing up resources. Energie Steiermark has chosen to integrate Artificial Intelligence (AI) technologies into its business processes to enhance efficiency. At the core of this transformation is the collaboration with Hypatos, a company specializing in the application of Next Gen AI in the financial sector.

The Role of Artificial Intelligence (AI)

AI plays a key role in this revolutionary shift. Through the use of advanced algorithms and machine learning, it is possible to automatically capture, analyze, and integrate accounts payable into the corresponding business systems. This not only leads to accelerated processing but also precise and error-free data capture.

Dr. Ulrich Erxleben, Founder and CEO of Hypatos, emphasizes: "Integrating AI into the accounts payable process not only increases productivity but also creates space for strategic decisions. It's about relieving human resources from repetitive tasks and focusing them on more valuable activities."

Energie Steiermark's Experience

Ewald Muhr, Head of the Accounts Payable Management Department at Energie Steiermark, highlights: "The introduction of NoTouch in our accounts payable process has exceeded our expectations. We were able to significantly reduce processing time and improve the accuracy and reliability of data. This has direct implications for our overall operational efficiency."

Employees at Energie Steiermark now have the opportunity to focus on strategic tasks while NoTouch efficiently processes accounts payable in the background. This paradigm shift not only means cost savings but also an increase in competitiveness.

A Glimpse into the Future

The successful implementation of Artificial Intelligence (AI) in the accounts payable process at Energie Steiermark shows that the future of business processes will be increasingly shaped by technologies such as Artificial Intelligence. Companies that are not only aware of this development but actively drive it forward will be able to position themselves at the forefront of their industry.

The journey from Multi-Touch to NoTouch is not just a technological transformation but also a strategic decision for the future. Energie Steiermark has taken the first step and is already reaping the benefits of this groundbreaking change. In a constantly evolving world, it is such innovations that pave the way for the next era of corporate leadership.

Speaker

Dr. Uli Erxleben
Founder & CEO, Hypatos