Financial Close Automation

Rivian used AI agents to handle accrual steps in its finance close process and prepare journal entries for review.

Business impact

• Manual work eliminated per close cycle — Rivian reported eliminating over 15 days of manual work per cycle.

Data requirements

• Accrual procedures (text) — Used by the agents to interpret how accruals should be handled.
• Purchase-order information (tabular) — Used to calculate accruals and prepare journal entries.

AI methods and techniques

• AI agents — Agents interpret accrual procedures, process purchase-order information, calculate accruals, and prepare journal entries.

Industries

Real-world evidence

1 documented case study on record.

Companies using this: Rivian.