AI powered invoice processing automation
Invoice extraction is the first step towards fully automated invoice processing. It is well known that manuel data entry is very time consuming and also prone to error. Many companies try to overcome this problem by using OCR technology, yet OCR doesn’t suffice to extract non-uniform data types.
We offer you a powerful cognitive data capture tool, which is capable of understanding all invoice variations, including every line item. Cognitive data capture performs two main functions: Data extraction and data validation. Automation of these two steps are vital for invoice processing, because there are various invoice formats with respect to metadata and you often encounter with several unstructured and non-uniformed data in line items.
As the first step, onVision Invoice Extraction product uses a mixation of OCR and ICR to recognize contents of invoice and extract data with a high level of accuracy. Following this step, machine learning procedure begin to show off its abilities. Each line item of the invoice is analyzed and interpreted by AI. Based on confidince score rating and spatial referencing method, data validation/correction is finalized.
Based on Artificial Intelligence, onVision Invoice Extraction tool is built for automated invoice processing. Besides, custom or pre-built integration with ERP such as SAP or MS Dynamics is ready for your use.
Invoice Extraction Features
Our cloud based solution is easy to use and cost efficient. It can be integrated with almost every enterprise software (ERP, DMS etc.)
You don’t need pre-defined templates. onVision AI will learn by itself and interpret all invoice variations precisely.
Handwritten texts are no longer a dead end thanks to our advanced ICR engine for English, Chinese (simplified),French, German, Italian, Portuguese, Spanish.
You can extract data from any invoice with just a single API call. Line items can also be extracted with ease.
Use a mobile device to upload a photo of the invoice to the platform. Invoice extraction will start automatically and send the data through the API or to any email address you want.
Taking global trade into consideration, onVision Invoice Extract supports 119 languages for printed invoices.
Automated Invoice Processing: Go Beyond Invoice OCR
You no more need to worry about new invoice layouts, noisy texts or graphical quality of the document.
Invoice processing is a key joint stage of many business operations. AP department needs to extract data from various invoice types and formats (PDF, printed etc.) and transfer these data into their own core system only after they verify the content. It usually takes long to step further and discrepancies occur frequently during manual work.
On the contrary, automated invoice processing streamlines every step with the help of pre-trained OCR & ICR which do not require human supervision. Using cognitive data capture and machine learning, we offer you an end-to-end automated invoice extraction solution.
Invoice Extraction FAQ and Definitions
What is invoice extraction?
Invoice extraction is the first step of automated invoice processing. A software is used to find and read relevant invoice data instead of manual processing. A mixation of OCR, ICR and machine learning is used to extract data accurately.
Invoice extraction or invoice OCR?
OCR is an “image to text” technology. It converts image of an invoice into text based and therefore digitized data. Invoice extraction is a wider concept, in which OCR is one of the components.
How much does invoice extraction cost?
We offer pay as you use pricing model. Please check our prices here.
Can we integrate invoice extraciton tool to ERP or other systems?
Yes, you can. Our solutions has connectors for most of the commonly used ERP, DMS and other systems.
Discover Invoice Extraction Use Cases
Invoices include many non-uniform/unique elements such as stamps, company logo or QR codes. onVision can easily recognize them and extract data accurately.
Since there are tones of variations and high volume, receipts are hard to classify and process. Don’t spend your valuable time, start using onVision’s cutting edge solution.
Invoices come in a great range of variation. Some include tables, some include irregular formats and some have low quality. onVision overcomes all complexities by machine learning.