ABBYY Awarded Newsweek AI Impact Honor for Transforming Financial Operations with Document AI
ABBYY won the Newsweek AI Impact Award for finance automation, cutting costs and boosting accuracy with AI-powered document processing. Their solutions streamline invoice handling and improve efficiency.
ABBYY Earns Top Spot in Newsweek AI Impact Awards for Finance Automation
ABBYY has been honored with the Newsweek AI Impact Award in the category of “AI in Finance: Best Outcomes, Accounting.” This award highlights ABBYY’s leadership in intelligent automation and its proven ability to streamline financial operations using AI-powered document processing.
ABBYY's intelligent document processing (IDP) solutions significantly reduce the need for manual invoice handling, leading to lower operational costs and improved accuracy. The judges recognized ABBYY for delivering measurable improvements in efficiency and for seamlessly integrating with existing enterprise systems. This integration creates more valuable and engaging experiences for accounts payable teams in major organizations.
Real-World Results in Financial Operations
One standout example is an Australian dairy cooperative that automated the processing of 300,000 invoices annually across two ERP platforms using ABBYY’s AI technology. This automation cut labor costs by nearly 80%, enabling the cooperative to reinvest savings back into its farmer-owned community.
Another case involved a global vehicle parts manufacturer that manually processed 17,000 invoices each month. After adopting ABBYY’s document AI, the company eliminated overtime expenses, reduced printing and storage costs, and boosted employee engagement. Staff were able to focus on higher-value tasks like exception handling and statement reconciliation instead of repetitive manual work.
Expanding AI Benefits Beyond Accounts Payable
While the award recognizes ABBYY’s impact in accounts payable and invoice processing, its AI technology supports a wide range of financial and operational functions. These include claims processing, retail lending, customs declarations, tax preparation, trade finance, customer onboarding, and health records management.
ABBYY’s CEO emphasized the company’s commitment to intelligent automation and the practical results customers experience across multiple business areas.
About the Newsweek AI Impact Awards
The Newsweek AI Impact Awards celebrate AI solutions that address everyday business challenges and deliver tangible benefits. ABBYY will be participating in the Newsweek AI Impact Summit from June 23-25, 2025, in Sonoma, California.
Learn more about ABBYY’s accounts payable automation solutions by visiting ABBYY Accounts Payable Automation and watch their demonstration video here.
About ABBYY
ABBYY specializes in purpose-built AI solutions that transform data from critical business documents into actionable insights in over 200 languages, in real time. Trusted by more than 10,000 companies worldwide—including many Fortune 500 firms—ABBYY helps accelerate customer experience, improve operational excellence, and enhance competitive advantage.
Headquartered in Austin, Texas, ABBYY operates offices across 13 countries. For more information, visit ABBYY Company.
