By now, you’ve probably chatted with a support bot at least a time or two. Maybe you asked Alexa about the weather before heading out the door or used voice-to-text to send a quick message to a friend.
That’s conversational AI in action, and it’s quickly moving beyond our personal lives to transform the way businesses operate.
For finance teams, conversational AP represents a major shift in how work gets done. Instead of digging through documents and dashboards to find what they need, teams can now get instant, accurate answers and insights just by engaging in a quick conversation.
But how exactly does conversational AI work in AP automation, and why is it changing the game for AP teams? Read on to find out.
What is conversational AI?
There’s a lot of buzz about conversational AI. But there’s still plenty of confusion about what this term does (and doesn’t) mean. So, let’s start with the basics.
Conversational AI is artificial intelligence that can understand and respond to human language (both spoken and typed) in a natural, intuitive way. Under the hood, there are several advanced systems working together to make it possible.
- Natural language processing (NLP): Helps AI understand the meaning and intent behind human language – including the many different ways people might phrase the same thing.
- Machine learning: Allows the system to learn from past interactions and improve over time, becoming increasingly accurate.
- Large language models (LLMs): Powerful models trained on vast amounts of data, enabling AI to provide relevant, natural-sounding responses on demand.
In short, conversational AI tools don’t just hear what you’re saying; they actually understand it. When this technology is applied to AI in accounts payable (which we’ll dive into a bit later), it can help teams reduce friction, save time, and gain insights that drive smarter decisions.
Conversational AI vs. chatbots: What’s the difference?
When you hear the phrase “conversational AI,” your mind might go straight to those old-school chatbots that were quite common not that long ago (and still show up more than they should). You know – the ones that get stuck in loops, can’t handle nuance, and leave users clicking through a frustrating decision tree.
The good news? Conversational AI is a huge leap forward from those early chatbots.
But how exactly are they different?
Traditional chatbots are rules-based. They follow rigid scripts and predefined responses. If you don’t ask a question in just the right way, you’re likely to go around in circles or hit a dead end. Traditional chatbots can address basic, repetitive queries – but not much else.
On the other hand, conversational AI is intelligent and contextual. These tools use natural language processing and large language models to figure out what you’re asking, even if it’s phrased in a way the system’s never seen before. Unlike traditional chatbots, conversational AI tools can hold more natural conversations, pull in real-time data, and take meaningful action.
A real-world AP example will make the difference between conversation AI and chatbots crystal clear.
With a traditional chatbot, you might get a button that says “Click here to approve invoice #11111.” But with AI-powered AP solutions like conversational AI, you can ask “Which invoices are overdue this week?” and get an instant answer, along with options to take action like routing these invoices for review or approving them directly.
Clearly, conversational AI is miles ahead of those clunky, frustrating chatbots.
How conversational AI works in AP automation
Now, we’re clear on what conversational AI is. But what exactly does that look like for AI in accounts payable?
AP teams are under more pressure than ever. They’re expected to move faster, handle rising invoice volumes, and maintain accuracy and compliance, all while supporting strategic decision-making across the organization.
Conversational AI helps AP teams complete tasks and uncover actionable insights – faster and with fewer steps. Rather than digging through documents and dashboards, users can ask questions or issue commands in simple English, like:
- “Find all unpaid invoices over $5,000.”
- “How much did we spend on vendor X last month?”
- “Approve invoice #123 from my phone.”
Conversational AI tools interpret these questions, pull real-time data, and either surface insights or take action – instantly.
The benefits are real, including:
- Faster decision-making, with on-demand answers and insights at your fingertips
- Fewer clicks and less context-switching across systems
- Fewer errors from manual data entry or miscommunication
Why conversational AI is a game-changer for finance teams
With so much hype about AI, it’s easy to tune it out as just another passing trend. But make no mistake: conversational AI isn’t just another shiny distraction. For finance teams, it’s a practical, high-impact tool that removes friction from daily workflows and unlocks insights previously buried in legacy systems or spreadsheets.
In accounts payable, speed, accuracy, and visibility are critical. Conversational AI can help AP teams work smarter, respond more quickly, and make more informed decisions. Here’s why it’s changing the game.
Reduces time spent searching and processing
Digging for answers and toggling between tools eats into productivity. Conversational AI eliminates these bottlenecks by providing direct answers and enabling actions with fewer clicks and less context switching. That means teams can close out tasks faster and focus more time on strategic, high-value work.
Proactively flags risk or inefficiency
Innovative conversational AI tools don’t just wait for questions. They also alert teams to potential problems like:
- Duplicate invoices
- Overdue approvals
- Unusual spending patterns
By surfacing these insights proactively, AP teams can address risks before they become costly issues.
Empowers non-technical users with data access
You shouldn’t have to be a systems expert to get the information you need. Conversational AI tools level the playing field, making complex data accessible to anyone on the team so they can get straight answers and take meaningful action.
Introducing Ottimate Copilot: Conversational AI for AP
For more than a decade, Ottimate has been committed to using technology in innovative ways to solve AP’s biggest pain points. Next month, we’re taking the next step with Ottimate Copilot, our conversational AI solution built exclusively for AP.
A quick search will show you there’s no shortage of AI tools on the market. But Ottimate Copilot isn’t another generic chatbot bolted onto an AP automation platform. Instead, it’s the first AI assistant built specifically for AP teams that combines answers, action, and proactive insight into a straightforward conversation.
With Ottimate Copilot, finance and operations teams can:
- Ask questions: Get instant, accurate answers to queries like “Which invoices are overdue this week?” or “How much did we spend with Vendor X last month?”
- Take action instantly: Approve an invoice, route a payment for review, or flag an exception – right within a conversation.
- Stay one step ahead: Automatically flag anomalies, payment risks, and missed opportunities so teams can avoid costly issues and act on impactful opportunities.
How Copilot fits into your workflow
Ottimate Copilot lives right within the Ottimate platform, so there’s no extra software to install or learn and no disruption to your existing AP processes.
It works within your normal flow of work. You get instant answers and insights in real time, backed by Ottimate’s deep AP expertise and your actual, real-time data.
Why Ottimate is different
Most conversational AI tools wait for you to ask a question. Ottimate Copilot does that – but it also takes things a step further.
Ottimate Copilot proactively surfaces opportunities, highlights risks, and helps AP teams prioritize what matters most. It doesn’t replace AP professionals, but instead, acts as a teammate delivering the answers and insights you need to make smarter decisions, faster.
Ottimate Copilot launches in September, with early access available through our waitlist. Join the waitlist today to be among the first to see how Copilot can transform your AP operations.
The future of AP is a conversation
The way AP teams work is about to change – for the better. What once required endless clicks, searches, and spreadsheets can now happen in a quick, natural conversation.
With the right AI-powered AP solutions, you’ll not only get answers to your questions – you’ll gain proactive insights that help you optimize operations, improve cash flow, and boost profitability.
With Ottimate Copilot, you can save time, reduce friction in your processes, and unlock insights that directly impact cash flow and productivity. It’s an AP partner that helps your team stay ahead, even with larger workloads and leaner resources.
The future of AP is here – and it all starts with a conversation.
Ready to move beyond reactive AP and see what a truly proactive, intelligent finance function looks like? Join our upcoming webinar to experience how Ottimate Copilot transforms AP from a cost center into a strategic advantage. You can also book a live demo today and see how Ottimate Copilot can transform AP with the power of conversation.
