Automated Invoice Processing with AI
Automated Invoice Processing with AI apply Deep Learning to detect regions of interest in an invoice such as supplier name, invoice number, table items and price. Besides that, it also apply Optical Character Recognition (OCR) to extract the text.
Transform these data from unstructured into structured to use them in automation processes. For instances, transform automated invoice entry into database, accounting and invoice creation.
- Significantly reduce processing time as the robot executes tasks faster than a human. The employee can focus on other value-adding tasks.
- Instant invoice processing. Invoices are processed directly upon receipt instead of waiting for the employee to finish other tasks.
- Creates more automation opportunities. Converting the invoices from unstructured to structured data allows for more automation to be done on the data such as automated accounting and data validation.
- Data validation for accounting. Cross-check bank statement of a company and compare with the invoice database to ensure all transactions are the same.
- Extraction of data from identification card or work tags. Using similar technology to detect a region of interest and automatically obtain labeled data from an ID card or work tags.
- Travel Data Extraction. Extract relevant information from a ticket image and automatically fills it into the database, expense form or create schedule item in calendar.