Request a demo and witness the power of AI
During the demo, we will showcase the technology, including its application to your own invoices, allowing you to assess both speed and accuracy leading to high ROI
Invoice Processing with IDP
Invoice Intelligent Document Processing (IDP), fueled by machine learning and artificial intelligence, adeptly extracts critical data from invoices and financial documents. Its mission? To streamline accounts payable processes, reduce errors, and optimize resource utilization. By eliminating manual data entry, it ensures meticulous financial records. Moreover, unlike traditional OCR, which merely converts scanned text into machine-readable format, IDP goes beyond. It intelligently processes and organizes extracted data, classifying invoice types and sorting information—whether it’s accounts payable or receivable invoices. The result? Enhanced efficiency, improved accuracy, and substantial cost savings for businesses of all sizes.
how it works
How does Invoice IDP work?
Data Extraction and Capture
- IDP begins by ingesting various types of documents—such as invoices, contracts, or forms—whether they’re scanned images, PDFs, or other formats.
Data Validation and Classification
- Once extracted, the data undergoes validation. IDP checks for accuracy, consistency, and completeness.
Workflow Automation and Integration
- IDP integrates seamlessly with existing systems (such as CRMs or ERPs). It automates further actions based on the extracted data.
- The system then employs optical character recognition (OCR) and natural language processing (NLP) techniques to extract relevant data. This includes identifying key fields (like names, dates, amounts) and understanding context.
- Classification algorithms categorize the document based on predefined rules. For instance, an invoice might be classified as “accounts payable” or “purchase order.
- Workflows are triggered: approvals, notifications, or data updates. This streamlines processes, reduces manual effort, and ensures accurate records.
Invoice Processing Automation: IDP Demo Walkthrough
A demo walkthrough showing how IDP intelligently processes invoices, classifies them, and optimizes accounts payable tasks to save time and reduce costs
Fields that can be extracted
Save time — our solution comes pre-trained to recognize a diverse range of invoice fields, so no need for starting from scratch!
Flat fields