Kili Product Overview
Kili is an AI-powered platform specifically designed to automate and streamline financial operations for businesses. Here’s a detailed look at what the product does and its key features:
What Kili Does
Kili automates a significant portion of financial tasks, aiming to reduce manual labor and enhance operational efficiency. It focuses on areas such as bookkeeping, reconciliation, invoice processing, and inventory management, automating up to 95% of these financial tasks.
Key Features and Functionality
AI-Powered Document Extraction
Kili uses advanced AI to automatically extract data from financial documents like invoices, purchase orders, and receipts at the line item level. This feature simplifies the process of data entry and reduces errors associated with manual input.
Easy Onboarding
The onboarding process is straightforward, involving the simple act of forwarding emails to Kili. The system then automatically processes the documents and updates the accounting system, making integration seamless.
Automated Financial Operations
Kili automates various financial tasks, including:
- Document Classification: Automatically categorizes documents into supplier invoices, business expenses, or purchase orders.
- Line Item Extraction: Extracts line items from any document, even from images.
- Supplier Management: Matches invoices to suppliers using AI and flags new suppliers for review.
- Inventory Management: Updates inventory by extracting line items from invoices using smart matching.
- Transaction Classification: Automatically classifies transactions by integrating with accounting software.
- Reconciliation: Reconciles transactions from bank and credit card statements.
Integration Capabilities
Kili integrates seamlessly with existing accounting and ERP systems, ensuring that data is always synchronized and up-to-date. This two-way sync capability ensures that transactions are automatically updated in both Kili and the connected accounting software.
Error Reduction and Quality Control
- Duplicate Detection: Detects duplicate invoices and expenses to save time.
- Audit Trail: Provides a full log of all changes to ensure the integrity of financial records.
- Discrepancy Flagging: Flags discrepancies for review, reducing manual errors and ensuring data accuracy.
Real-Time Updates and Notifications
Kili provides real-time updates and notifications about operational activities and discrepancies, keeping users informed and enabling prompt action when necessary.
In summary, Kili is a powerful AI-driven tool that significantly enhances the efficiency of financial operations by automating routine tasks, ensuring data accuracy, and integrating seamlessly with existing financial systems. Its robust features and automation capabilities make it an essential tool for businesses looking to streamline their financial management processes.