(US and Canada) Kapwork, the AI platform for factoring, announced major updates to its flagship Kapwork Verify platform to transform the factoring process with speed and efficiency. Key new features include an Email Verification Agent and a centralized user interface with the status of all invoices without requiring manual reconciliation, so factors can keep track of their portfolio in real-time and confidently deploy capital at scale.

Factoring has always relied on manual processes to manage its invoice operations exposing it to high costs, inefficiencies and vulnerabilities across the workflow. From fraud and credit risks like misdirected payments and fake invoices to the risk of capital loss while reconciling payments, the traditional factoring industry loses billions every year, leaving many businesses on the verge of bankruptcy. Kapwork directly reduces these risks, bringing transparency, speed, and peace of mind to factoring operations.

Eliminating friction, accelerating workflows with AI
At launch, Kapwork automated the manual invoice verification process by directly connecting to vendor management systems (VMS). Today, Kapwork extends that automation to the email inbox, historically the single biggest bottleneck in factoring workflows.

Up to 90% of all invoice processing time is dedicated to parsing manually through thousands of email threads to transact on relevant invoices. Kapwork’s new Email Verification Agent automatically extracts and aggregates transaction statuses from emails into a central, comprehensive view. A process that typically required 1 to 2 days of manual input now takes seconds. New, pending, and settled transactions are displayed for real-time understanding of their inventory.

Kapwork is also introducing a centralized UI for quick access to all of a factor’s invoice inventory. The new interface reconciles data across multiple sources–email, vendor portals, internal systems. Kapwork can also alert new invoices available for purchase, and even detect anomalies reducing the risk of fraud. Without Kapwork, factors are responsible for downloading vendor data and comparing individual fields to identify changes, leading to costly human errors and missed opportunities.

“Factoring demands speed, precision, and trust, but manual processes make it harder than it should be,” said Mauricio Vergara, Co-Founder and CEO of Kapwork. “A single fraudulent invoice can cost hundreds of thousands of dollars, while years of small inefficiencies bleed profit over time. We built Kapwork to help factors maximize their margins and fund SMBs faster”.