![[Toyota Times] Century as a Brand, Lexus as Innovation: All the Details on Toyota's New Project!](https://businessfortnight.com/wp-content/uploads/2025/10/Toyota-Times-Century-as-a-Brand-Lexus-as-Innovation-All-218x150.jpg "[Toyota Times] Century as a Brand, Lexus as Innovation: All the Details on Toyota's New Project!")
Bengaluru, Karnataka, India:
Clear, India’s main fintech SaaS agency, right now introduced the launch of Clear Capture, an AI-based end-to-end answer for enterprises to streamline their accounts payable journey. The instrument permits the Accounts Payable crew of enterprises to automate buy bill entry and detect non-compliant and fraudulent invoices coming from their suppliers.
Clear Capture empower an enterprise’s AP crew by mechanically validating all their incoming invoices and extracting the bill information to deliver over 90% automation into their bill reserving course of. Its AI-based information extraction expertise cuts the bill entry time from ten minutes per bill entry to a number of seconds. With Clear Capture, the corporate expects to digitize and validate 75 million buy invoices with a mean bill worth of Rs 50,000 in three years.
The instrument runs 45+ compliance checks on invoices to establish mismatches by analyzing and evaluating the bill fields. It additionally minimizes errors and cuts brief the man-hours wanted for bill information entry which reduces overheads. Post validation of invoices, the customers additionally get an choice to export the invoices hassle-free instantly to their ERPs or accounting programs.
Archit Gupta, Founder and CEO of Clear, mentioned, “An important first step in the compliance journey of an enterprise is recording the invoice for goods received. Clear Capture is a powerful tool for invoice digitisation by AP teams that reduces errors and the time spent on invoice recording. Our AI based technology can help enterprises save lakhs of man hours spent on invoice capture each year.”
Prior to launch, Clear ran a survey with 2,000 enterprises throughout India geared toward figuring out the ache factors of managing accounts payable.
- The survey revealed that accounts payable groups in enterprises spend greater than 70% of their time reconciling provider invoices with buy order and items receipt information. The traits highlighted should not restricted to massive enterprises alone. Mid-sized enterprises coping with a number of distributors and dealing with excessive volumes of invoices additionally confronted comparable points.
- 80% of respondents depend on individuals and paper-based processes, and it takes virtually 8 minutes for information entry personnel to punch a purchase order bill.
- Respondents famous that due to heavy dependency on totally handbook approval processes comparable to inter-office mail/courier dispatches, enterprises find yourself taking greater than 10 days to punch a single bill.
- Very few organizations, lower than 15 p.c of the pattern, reported a fully-automated AP perform the place the reserving of buy invoices in ERP on common takes lower than two days. These lengthy cycles have hampered the provider relationships due to an absence of visibility of invoices and delays in funds.
In addition, there are inefficiencies related to indexing when the quantum of invoices is excessive which leads to an absence of management and visibility of transactions. The accounting error fee is round 3-4%, the respondents famous.
The accounts payable automation market in India is rising at 11% CAGR owing to the expansion in spending of enterprises on digitisation of accounts payable processes to improve business progress, as per MarketsandMarkets survey report on Accounts Payable automation.
Some of the instrument’s different options embrace a single unified channel for speaking with distributors on their bill compliance standing, personalised dashboard, and configurable bill approval workflows.
There have been a number of cases the place enterprises have had to pay penalties value lakhs of rupees for claiming ITC on fraudulent and non-compliant invoices. Therefore incorrect bill recording can have a large impression on an enterprise’s backside line.
Clear (previously ClearTax), is India’s main fintech SaaS firm with the mission of simplifying funds for Indian companies and people. We are trusted by over 5 million Indian taxpayers, greater than 1,000,000 tax practitioners, 600,000 small companies, and 4,000 massive companies and types. For small and enormous companies, our product suite covers invoicing, GST, and a spread of managed companies and credit score. For tax professionals, we provide complete GST compliance, ITR, and TDS submitting options. For people, we provide tax compliance and wealth administration. Clear has raised $140 million in fairness capital funding since its inception. The firm was incubated in Y Combinator and is funded by Silicon Valley buyers, together with PayPal co-founders Peter Thiel’s Founders Fund, Max Levchin, and Scott Banister. Clear’s buyers embrace Composite Capital, Sequoia Capital, and SAIF Partners. Please go to – Twitter, Instagram, LinkedIn, Facebook, and YouTube for the most recent updates on Clear.
Submit your press launch
![[Toyota Times] Century as a Brand, Lexus as Innovation: All the Details on Toyota's New Project!](https://businessfortnight.com/wp-content/uploads/2025/10/Toyota-Times-Century-as-a-Brand-Lexus-as-Innovation-All-100x70.jpg "[Toyota Times] Century as a Brand, Lexus as Innovation: All the Details on Toyota's New Project!")
