Payhawk Launches Autonomous Invoice Retrieval Feature
Payhawk has announced the general availability of its Agent Fetch capability, which automates the retrieval of vendor invoices from online portals. The company reports that early beta testing showed a reduction in invoice processing time from an average of 23.8 days to just two days—a nearly 90% improvement.
The problem addressed by Agent Fetch is common yet painful for finance teams: invoices for recurring services like software subscriptions, cloud infrastructure, and digital advertising often reside within vendor portals rather than being delivered directly.
How Agent Fetch Works
When activated, the agent:
- Automatically logs into connected vendor accounts
- Locates relevant invoices based on payment data
- Extracts invoice details and coding information
- Matches the invoice to the corresponding transaction record
During beta testing, Agent Fetch successfully retrieved invoices without human intervention in 68.6% of attempts.
Key Benefits for Businesses
- Significant time savings: Reduces manual effort and accelerates month-end close processes
- Improved compliance: Ensures timely retrieval of VAT invoices for reclaim eligibility
- Enhanced visibility: Provides real-time access to complete transaction records
- Reduced errors: Automates a prone-to-human-error task
Competitive Landscape
Payhawk’s Agent Fetch represents a notable advancement in B2B spend management, where competitors like Spendesk, Pleo, Yokoy, Airbase, SAP Concur, and Coupa are also incorporating AI to automate financial workflows.
The 68.6% autonomous success rate demonstrates both the potential and current limitations of this technology—with roughly three cases in ten still requiring human intervention.