We're launching a private preview for our new and improved invoice coding feature, Ada Coding 2.0! Our new version of Ada is designed to bring greater efficiency and accuracy to your accounts payable (AP) coding tasks.
What is Invoice Coding?
Invoice coding is the process of assigning the correct accounting codes - like general ledger (GL) codes, cost centers, or project codes - to each line on an invoice. These codes are essential for your finance team to accurately track expenses and maintain a clear picture of the company's financial health.
For many AP teams, coding invoices is a very manual and repetitive task. It's often complex and can lead to mistakes that require extra time and effort to fix. Manual coding can take up a lot of time and lead to errors. Automating these tasks is a key step towards a more efficient AP workflow.
What's New with Ada Coding 2.0?
Ada Coding 2.0 is an advanced machine learning solution designed to automate and improve the accuracy and the efficiency of invoice coding. This new version surpasses the older model with a more robust architecture that handles complex data and large coding lists more effectively. Ada Coding 2.0 provides: Improved accuracy: a new AI model gives you more accurate coding suggestions. Expanded coding capabilities: the new model can suggest a wider variety of codes, including more complex combinations of GL codes and cost centers. It also supports coding lists with filters, leading to more precise suggestions. Better learning: Ada 2.0 learns directly from your team's behaviour, continuously improving its suggestions anytime you accept, reject or adjust a suggestion. Intelligent auto-coding: Ada’s AI automatically codes invoices based on your past behavior and the invoice data itself. It even provides a confidence score to help you review the suggestion. User-corrected learning: every time you accept, reject, or correct a suggestion, Ada learns from that action and uses it to make better suggestions in the future. Customizable rules: if needed, you can still set up your own custom coding rules to ensure specific invoices are coded exactly as you require. Intuitive user interface: the updated interface makes it simpler to review and manage coding suggestions. Ada Coding 2.0 supports a variety of document and coding scenarios: Invoices: the model works with both Non-PO and PO invoices. It can automatically suggest codes for Non-PO invoices and can either supplement partial coding from a PO line or provide full coding if your copyCoding feature is disabled. Credit Notes: the feature now supports credit notes, providing coding suggestions for credit note lines, whether or not they are linked to an invoice. Coding Lists with Filters: If your company uses coding lists with a FilterBy configuration, Ada 2.0 can accurately predict codes by using information from multiple related lists. Ada learns to make coding suggestions by analyzing key details from your invoices. This includes information like: Invoice line item name and description Quantity, price, and currency The sender of the invoice Cost center Based on this data, Ada can predict the correct coding values for new invoices. The more consistent your data is for a particular type of invoice, the more accurate Ada's suggestions will be. For example, if your team consistently codes similar invoices from a specific sender in the same way, Ada will quickly learn to suggest that same coding for new invoices from that sender. To use Ada Coding 2.0, your organization must meet the following requirements: Process a minimum volume of invoices each month. Be live on Tradeshift Pay and use Workflow Matching 2.0. This is a private preview with limited spots. If your organization is interested in trying Ada Coding 2.0, please contact your Tradeshift Customer Success Manager. They can give you more details and help you get started. We're excited for you to experience a new level of efficiency in your AP operations!
Key Features of Ada Coding 2.0
Supported Scenarios
How Ada's Suggestions Work
Prerequisites for Ada Coding 2.0
How to Join the Private Preview