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Meet your vendor SLAs without a miss. Infrrd for Invoice extracts and delivers invoice data that is validated by AI so that no humans need to review it.
A key competitive advantage for AP operations is when they can eliminate manual data review and corrections completely. Get ready-to-use data for even the most complex invoices saving human costs and time
It is a process where an AI-Led IDP solution transforms invoice management, automates accounts payable processes with pre-trained models, extracting data from complex documents and setting business rules for accurate payments. ML-powered solution predicts and corrects errors, enhancing Straight-Through-Processing (STP) accuracy.
The benefits of automated invoice processing are as follows:
1. Reduces processing costs
2. Minimizes human efforts
3. Provides 100% accuracy
4. Ensures compliance
5. Quick & reliable payment processing
6. Accelerates workflow
There are 2 types of invoice processing:
1. Manual processing - Human efforts are required for tasks like data entry & validation.
2. Automated processing - AI & Machine learning techniques are used to extract, validate and route invoice data automatically while improving accuracy.
Automated invoicing employs AI and machine learning algorithms to analyze and extract data from invoices, including complex elements like tables and handwritten documents. The automated invoice processing software uses pre-trained models for common fields and can be configured for specific business rules. This invoice processing automation minimizes errors, enhances accuracy, and expedites the entire accounts payable process.
To automate invoice processing, an AI-driven solution is employed. This solution utilizes its AI-first approach to extract data from various types of invoices, including complex tables and different formats. It offers pre-trained models and the ability to configure processing rules. The intelligent invoice processing solutions learns and improve over time, leading to higher accuracy and efficiency.
Common documents and use cases work out of the box. The cool thing is your solution will improve as the system learns from your documents upfront and over time.
Did you know no system is 100% accurate all the time? When extraction errors occur you want to correct them. We provide a simple UI that your business analyst will use to make corrections.
Our solution excels at data extraction from handwriting. We've got proprietary methods and techniques that do the trick. It's pretty cool. See for yourself.
See our platform in action to experience the transformative efficiencies it can bring to your processes
