All AI predictions start with the vendor, the single most important predicted field, and then move on to other fields like invoice number, invoice date, and amount among others.
This article contains everything you need to know as to how vendor predictions are made, how to increase the accuracy of vendor predictions, as well as find additional information stored on the vendor I-icon to see prior bills.
Global Model
By utilizing the learnings from the hundreds of millions of invoices processed through Vic.ai, an overarching, global AI model brings the highest possible accuracy to your predictions. The options are still limited by the vendors in your masterdata.
Data Points for Predictions
The most important field is the Vendor Name. The predicted vendor name will be compared to all possible options from your masterdata.
Other matching data points in Vendor Masterdata are used in the case of a tie or an inexact match. These tiebreakers are common in the case of multiple instances of a single vendor name (common with Utility/Telecom services or multiple locations):
Address
Email Address
Phone Number
Account Number
Blank supplemental masterdata can't be used in a tie-breaker for a vendor prediction.
Increasing Vendor Prediction Accuracy
You can increase the quality and accuracy of the predictions by having vendor masterdata that matches what is seen on the invoices.
Editing Vendor Name:
Names that align between vendor masterdata and an invoice improve accuracy.
Example: “Zephyr Construction Inc,.” in your masterdata, but “Zephyr Homes” on the invoice.
Difficult Scenarios for the AI:
Different names will harm the AI’s predictive capabilities, such as acronyms or DBA.
Acronyms
Example: Vendor name is “Amazon Web Services” in your masterdata, but “AWS” on the invoice.
DBA (Doing Business As)
Example: If the vendor name is “Alphabet” in your masterdata, but “Google” on the invoice.
For these examples, editing of vendor masterdata to bring names into alignment with what is found on invoices is strongly encouraged.
We know how important it can be to see vendor account information, as well as previous examples of processed bills. This is why Vic.ai has the Vendor Information Card.
Access the Vendor Information Card:
Keyboard shortcut for selected vendor: 'control + i'
Click the 'i' icon next to a vendor name
Information on a Vendor Information Card:
Address
Account Number (integration-dependent)
Payment Method (integration-dependent)
Summary of five most recent invoices
View Recent Invoices: Clicking this link will open a new Vic.ai browser tab pre-filtered for all invoices from this vendor.
Vendor Information Mapping
The chart below shows the Vic.ai vendor information fields and the fields they sync with in the respective connected system.
Vic.ai Field | QBO | Sage Intacct | Bill.com |
Address | Address fields | Address fields | Address fields |
Account Number | not available | Vendor Account Number | Account Number |
Payment Gateway | "Check" field has info | Preferred Payment Method | Will show type if "check" |