Artificial Intelligence

Time savings

Exact uses artificial intelligence (AI) and machine learning to improve efficiency and effectiveness within business administrations. Through process automation, Exact's customers save 89% on bank transaction processing and 93% on invoice entry. By adding AI, users will automatically see accurate booking proposals, even if the administration lacks a history.

The annual savings for bank transactions only results in more than 100 years of work for one person. Users of Exact Online generate 4,500,000 booking proposals for banking transactions every month. Manual processing of 1 bank transaction takes an average of 15 seconds. Thanks to automatic proposals this takes less than 1 second. On top of this, Dutch SMEs can save 17,800 hours each month. In other words: 100 years of work for 1 person. Every year.

AI, machine learning and Exact

Our clients, businesses and accountants that work with Exact software, want to devote as much of their time as possible to their core activities. AI supports them in doing so, providing:

Smart automation

With technology that learns how to perform routine tasks and executes this as efficiently and intelligently as a human would do, saving you time.

Data-driven decision support

Smart algorithms that identify valuable trend information in financial data enable you to make better informed business decisions.

Continuous improvement

The technology is self-learning which means that it continuously improves itself. The more data you process, the smarter the system becomes.

AI features are already included in Exact software

AI leads to 89% time savings with automatic processing of bank transactions and 93% when entering invoices.

AI features are already included in Exact software

Exact is already rich in AI functionality. A clear example is the concept of “no-hands” accounting, which helps our customers streamline data entry and bookkeeping processes. Depending on your preference settings, Exact software can either automatically complete or make a suggestion as to which general ledger account a bank transaction should be booked against. The software can also automatically process incoming invoices in this way.

These processes are made possible by the smart processing of anonymised data from the more than 400,000 businesses. Technologies such as machine learning and AI automatically detect how user behaviour and how transactions are being managed. This results in accurate automated decisions and suggestions, which continually improve thanks to the technology’s self-learning capabilities.

Benefit from Artificial Intelligence

At Exact, we want you to benefit optimally from the power of AI so that, in the future, you won't have to enter anything at all. Instead, you gain new insights by combining data from different sources.

How does Exact deal with privacy?

Our AI developments are based on the following two guidelines:

Anything we do adds value for the customer

Anything we develop, needs to add value to our customers by helping them to be more effective in running their business. This means that we are constantly looking at how users of our solutions can spend as little time as possible on entry work. Instead they can focus more on leveraging their data to make smarter decisions, that help differentiate and grow their business.

Anything we do, follows strong Ethical principles

We care more about the people behind the data, than the data itself. We would never do anything with our customers’ data that we wouldn’t want someone else to do with our own data.

Exact and Artificial Intelligence