Vic.ai is an autonomous accounting platform that leverages artificial intelligence to automate and optimize finance and accounting processes, with a primary focus on invoice processing and accounts payable operations.
How does Vic.ai work?
Vic.ai replaces traditional, rules-based accounting systems with an AI-driven approach that processes invoices autonomously. Instead of relying on static templates and manual data entry, the platform uses advanced machine learning to continuously improve its accuracy and efficiency. By minimizing the need for human intervention, Vic.ai helps companies reduce errors, speed up invoice processing, and scale their finance operations.
Core features of Vic.ai include:
- Autonomous invoice processing with up to 99% accuracy
- AI-powered workflows that adapt and improve over time
- Integration with existing finance systems to streamline operations
- Analytics and data predictions to support better financial decision-making
What problems does Vic.ai solve?
Vic.ai addresses the inefficiencies and error-prone nature of manual accounts payable tasks. Traditional accounting systems depend on rigid rules and templates, often resulting in slow, mundane, and error-filled processes. Vic.ai eliminates these pain points by providing a solution that learns and adapts, freeing finance teams to focus on higher-value work rather than manual entry and repetitive tasks.
Who uses Vic.ai?
Vic.ai serves a wide range of organizations seeking to modernize their finance operations. The platform is used by companies across industries, including real estate, hospitality, education, manufacturing, and more. Notable customers include:
- HallKeen
- Amli Residential
- Diesel Direct
- Great Wolf Lodge
- Milwaukee Tool
- Virgin Voyages
- Higher Ground Education
- BHI
- Global Roofing Group
- VTrips
- Brinkley
- Teichert
- Stonewall Kitchen
- Crown Crafts
- HSB
- Countsy
- Strawberry
- Elkjop
Collectively, Vic.ai has processed over half a billion invoices for 10,000+ customers, helping achieve approximately $188 million in cost savings and saving six million hours of manual work.
How was Vic.ai started?
Vic.ai was founded by a team with deep expertise in technology, accounting, and business systems. Key members of the founding and executive team include:
- Alexander Hagerup (Co-founder & CEO): Serial tech entrepreneur with a finance and accounting background.
- Kristoffer Roil (Co-founder & COO): Experienced in business systems and finance operations, previously founded a pioneering VoIP provider.
- Ben Baldyga (SVP, Sales): Brings extensive enterprise software growth experience.
- Mark Fisher (SVP, Marketing): Growth strategist and marketing leader.
- Anna Klombies (SVP, People): Over 25 years of experience as a people leader in SaaS.
- Anand Desai (SVP, Finance): Executive with an extensive background in business and technology management.
- Kevin Dotzenrod (VP, Engineering and Products): Twenty-year veteran of the technology industry.
The company is privately held and jointly headquartered in New York City and Oslo, Norway. Vic.ai is backed by leading venture capital firms such as Iconic Growth, GGV Capital, Cowboy Ventures, and Costanoa Ventures. More about their team and story can be found on their About page.
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