Patent Validates PredictAP's AI-Driven Approach to Streamlining Invoice Processing
BOSTON, March 20, 2025 /PRNewswire-PRWeb/ -- PredictAP, an AI-powered invoice coding solution for real estate accounts payable (AP), today announced it has been awarded a U.S. patent for its innovative AP automation technology. This patent protects the proprietary approach PredictAP has taken in developing its advanced prediction engine, reinforcing its position as a leader in AI-driven invoice processing.
Founded in 2020, PredictAP has revolutionized real estate accounting by streamlining invoice processing and categorization through automation. The platform leverages machine learning to analyze customers' historical invoice data, as well as advanced training models to identify and replicate data entry with precision.
"Securing this patent is a major milestone, confirming our groundbreaking work in enhancing AP automation with true intelligence," said David Stifter, chief executive officer and founder of PredictAP. "PredictAP isn't just about processing invoices—it's about understanding context, coding with accuracy and fundamentally improving accounting operations for multifamily operators. This firmly underscores our commitment to push the boundaries of innovation and deliver a best-in-class product."
PredictAP goes beyond traditional Optical Character Recognition (OCR) technology, which extracts text but often struggles with complex invoices where key details are missing. Unlike its competitors, PredictAP's patented approach enables a deeper understanding of invoice structures and patterns, allowing for greater accuracy and efficiency in data entry. Clients not only reduce manual workload but also save time and avoid unnecessary costs, such as late fees.
"The multifamily industry has long struggled with the inefficiencies of manual invoice processing, and previous attempts to solve the issue have fallen short," said Russell Franks, president and co-founder of PredictAP. "This patent recognizes PredictAP's unique ability to go beyond basic OCR, bringing unmatched accuracy and efficiency to accounting teams. With our clients experiencing transformative results, I'm proud to say this is just the beginning of what we aim to achieve."
PredictAP's rapidly growing client base consists of over 70 real estate organizations, including industry leaders like Bridge Investment Group, Garden Homes and Related Group. Designed for seamless integration with top AP workflow automation solutions, PredictAP enhances efficiency and drives significant cost savings for multifamily operators.
About PredictAP
PredictAP is the leading AI-powered invoice coding solution designed specifically for real estate. Unlike OCR and indexing services, PredictAP provides fully coded invoices, ready to flow through existing AP automation workflows. When paired with industry-leading AP automation solutions, such as Yardi Payscan and Nexus Systems, PredictAP delivers massive cost savings and productivity growth.
Founded in 2020 by a team of real estate, accounting tech, and artificial intelligence industry alumni, PredictAP is based in Boston, Massachusetts. Visit www.predictap.com to learn more.
Media Contact
Dana Grundy, PredictAP, Inc, 1 406-214-8618, [email protected], www.predictap.com
SOURCE PredictAP, Inc
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