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E-invoicing, SCF & E-procurement

Rover180 acquires Vemity for AI and ML

Friday 1 February 2019 | 10:30 AM CET

Rover180 has announced its acquisition of Vemity, a US-based company that is specialised in artificial intelligence automation and machine learning.

Supply chain finance and factoring company Rover180 will leverage Vemity’s technology to cut costs associated with invoicing and accelerated payments for the USD 740 billion annual transportation industry. Moreover, by integrating machine learning, Rover180 aims to reduce time and effort associated with processes including three-way matching in payment processing.

Vemity’s machine learning model is meant to reduce manual work, facilitate invoice accuracy, and increase payment velocity for buyers and vendors along the supply chain. The company enables users to create learning models based on data sets optimised through the AI platform, and the result creates, at its turn, information analyses and predictive automation for human tasks.

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