Brazilian payments technology company Elo has partnered with Microsoft to develop an AI-powered solution enabling businesses to manage accounts payable and execute payment workflows within Excel.
The companies will offer the technology mainly to small and midsize businesses that use spreadsheets to manage financial operations but typically rely on separate banking portals, enterprise applications and manual processes to complete transactions.
The solution combines AI agents, document processing, payment validation and Open Finance connectivity to automate parts of the accounts payable process. It uses Azure OpenAI Service to analyze financial transactions, identify inconsistencies and recommend actions before payments are approved. Azure AI Document Intelligence extracts and structures information from invoices, payment slips and receipts.
“We are entering a new era of AI agents capable of supporting end-to-end business processes,” said Alessandro Jannuzzi, CSU general manager for Microsoft Brazil. “In this initiative, we are bringing this experience to one of the tools most widely used by companies, enabling financial tasks that previously required multiple systems and manual steps to be performed in a more integrated, productive and secure way.”
Elo said it is still testing the technology, but expects it to be available “in the coming months.”