Paper invoices still occupy a large place in the daily operations of business life. Accounting/finance employees have to collect, process invoices in various formats from different sources for regular monitoring and management of payments and send them to the relevant authorities for approval. These are operations that, when performed manually, both take a very long time and often disrupt business processes due to errors or delays. Especially import and e-archive bills cause a serious overtime expense. With invoice automation, it is possible to find an effective solution to this problem that many businesses are experiencing.
The first step in the transition to OCR automation is to digitize printed or handwritten invoices. In this step, the invoice is scanned or the photo/PDF format is created. The invoice, which becomes ready for processing in digital environment, is read by OCR and all data are analyzed. However, the handwriting on the invoice, special formats, logo, stamp, etc. elements cannot be fully resolved by OCR analysis alone. In addition, worn-out or irregular format, low graphic quality documents cannot be reliably resolved with Octr and often require human intervention/verification. For such cases, ICR (intelligent character recognition) should be activated.
This stage is especially critical for the automation of new invoices included in the system. Because classic OCR solutions can only analyze pre-created invoice templates. Rule-based OCR solutions that work according to certain rules defined before the analysis process cannot analyze a new template. Therefore, for each new supplier invoice or a new field added to an existing supplier’s invoice, a different table, etc. in order for the content to be analyzed, the process owner must define new rules. In such a situation, it is not possible to talk about a bill automation literally.
Full Automation with Machine Learning and Artificial Intelligence
To eliminate the problem we mentioned above, our solution partner uses the deep machine learning method. On the basis of this method, which provides a complete invoice OCR, there is a powerful artificial intelligence that can interpret different invoice templates and contents and learns on its own. Thanks to machine learning algorithms, the system is able to interpret all types of invoices. Data fields, row items, tables, etc. even if the invoice contents are encountered for the first time, artificial intelligence can analyze these data with a high hit rate using comparative and comparative techniques.
After the data has been analyzed and classified according to the requirements of the process, the invoices are ready to be transferred smoothly to the relevant workflow. Artificial intelligence creates an output of data in XML or JSON format, making it processable on the API or server. Thus, it can be easily integrated into the desired ERP software. SAP invoice automation is one of the good examples in this regard. The SAP connector in our solution transfers the resolved invoice data directly and automatically to the SAP system.
Advantages of Invoice OCR
- Increase profitability
Increase your profitability by sending incoming invoices faster and without errors
- Increase productivity
Automation allows you to distribute resources more efficiently and avoid bottlenecks or delays in processing invoices.
- Improve liquidity planning
Get full transparency about the status and amounts of all invoices to provide up-to-date liquidity planning and determine the optimization potential.
- Pull data from all over the invoice
The ability to automatically pull all kinds of data, including line items, from invoices with state-of-the-art artificial intelligence.
- Seamless Integration
Possibility of seamless integration with any accounting or ERP (SAP, Dynamix, Logo), DMS, Archive system.
- Invoices from different sources
From different sources (e-mail, server, etc.) automatic collection of incoming invoices.
- Withdraw data from e-archive invoices
Transferring all data types included in e-archive invoices to digital media,
- Invoice file formats
PDF, JPEG, TIFF etc. support for file formats,
- Save time on bill processing
A 95% reduction in the time spent on data entry.
The letters or numbers that are suspicious or suspicious of the data obtained are marked in different colors and the transactions are completed in a short time thanks to the correction only in such suspicious cases. Completed invoices are converted to PDF format and can be stored in the digital archive management system. Again, the information obtained about the invoices whose transaction has been completed (invoice number, invoice date, company titles, amount, tax office, etc.) Are transferred to the Excel file. It is quite advanced in terms of data capture features. OCR, which is represented in the world, can work integrally with software and offers the possibility of high-level data capture. The capture and processing of the data goes through various stages and the document is transferred to the outside
