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June 8, 2023
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2
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Numeric unveils Numeric AI and Numeric Essentials

Today, Numeric is announcing the launch of two new offerings, Numeric AI, an artificial intelligence accounting co-pilot, and Numeric Essentials, a free tier of their close management product.
Parker Gilbert
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Numeric and AI

Numeric AI

With AI reshaping every industry at breakneck speed, Numeric is launching a suite of AI-powered tools to enable accountants to start leveraging large language models to drive greater efficiency and control.

"We were quickly intrigued by how accounting might be impacted by large language models," said Parker Gilbert, CEO of Numeric. "But even we were surprised by how quickly and effectively AI has been able to impact recurring accounting workflows in a meaningful way. We think this technology will have a massive effect on the future of accounting and we are committed to leading this transformation."

With Numeric AI, teams can leverage large language models to move dramatically faster, including the groundbreaking ability to

  • Automatically draft flux explanations by drawing on data from underlying general ledger transactions, account trends, and previous explanations;
  • Interact with their ERP data using a chat interface to ask questions and generate instant searches, reports, and visualizations; and
  • Receive technical accounting guidance to generate GAAP-ready policies, supplemented with links to public company filings, details on practical expedients, and comparisons of different approaches.

"We believe that these technologies empower accountants to tap into the large datasets at their disposal with a level with speed and control that was previously unattainable," said Gilbert.

Numeric Essentials

Numeric Essentials is an industry-first, free close management solution. Teams can get started by uploading an existing close checklist and can immediately take advantage of real-time collaboration features, detailed progress tracking, and accounting-specific controls for their next close.

Numeric Essentials arises from Numeric's commitment to help large and small accounting teams improve their month-end close so they can focus on what matters instead of being laden with time-consuming, repetitive tasks. "We believe that an efficient, controlled month-end close process is fundamental to providing operators with the accurate, complete data they need to make critical decisions and this is something that companies of all sizes benefit from. Excellent, well-designed software to help teams close faster shouldn't take months to set up or only be accessible to the enterprise" Gilbert stated. "We're proud to offer a product that teams can set up in minutes and will scale with them to IPO and beyond."

Numeric has seen rapid growth in the last year, counting high-growth companies such as Wealthfront, Betterment, Figure, and Heap, as customers. With this launch, Numeric is set to bring their product to an even wider audience, enabling more businesses to improve their accounting accuracy and efficiency.

About Numeric

Numeric, a leader in accounting automation, is transforming the way accounting teams operate. Combining real-time data integrations, powerful automations, and intuitive design; teams use Numeric to have total trust in their financials and make better decisions with confidence. Used by high-growth companies like Wealthfront, Betterment, Heap, and Clearbit, Numeric is committed to empowering accounting organizations to do more with less, increasing speed through efficiency, building confidence through accuracy, and delivering insight through detail. 

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