The Situation
Melbourne, Australia-based Valtatech helps its clients process over 20,000 invoices a month in different formats. Their 20-member team would struggle to extract accurate data from semi-structured invoices.
Automated Invoice Processing
Digitize invoices in 1 click with 99%+ accuracy
Make your accounts payable team 10X efficient with intelligent invoice processing
Ingest and classify multi-format invoices easily
Reduce risk by identifying duplicates and validate them 2-way/3-way with purchase orders/delivery notes
No credit card required
Invoice OCR API
Process invoices in any format with a single API call
Use our pre-trained APIs to capture PDF invoices from emails, scans, and manual uploads. Docsumo's NLP-based classification framework instantly categorizes key value pairs and line items from invoices. Need a customizable API? Train on your data with as little as 50 invoices.
Faster invoice processing
Pay invoices on time, and take advantage of favorable payment terms
Capture 99%+ accurate data from varying invoice formats with our template-agnostic AI engine. Use this data to make timely payments and get more discounts and rebates from vendors.
Automated GL coding
Automatically map expenses to appropriate GL Code
Map your business expenses to appropriate GL codes automatically with Docsumo's intelligent expense classification. This way, you can ensure enhanced compliance and accurate expense reporting in Profit & Loss accounts.
5 Reasons to get the Docsumo Advantage Now!
<60sec
Reduce turnaround time for document processing from days and months to seconds
10x
Increase efficiency by 10X even as you process 10k+ documents a month
99% plus
Reduce manual and repetitive errors with intelligent automation and get accurate data from documents
Smart AI
Algorithms that self-learn based on new document formats and on the go or from manual corrections
Analytics
Make rapid decisions with easy validation and granular analytics
Know invoice types automatically
Get smarter insights from your invoices
Know different invoice types such as proforma, recurring, interim, overdue, final, etc. automatically. That way, you know which invoice types you receive more frequently so you can prioritize your invoice payment workflows.
Identify duplicate invoices and reduce risk
Match your invoices 2-way/3-way to reduce overpayment risk
Match your invoices 2-way/3-way/4-way against purchase orders, packing notes, and delivery receipts. Use Excel-like rules/formulae to validate extracted data across invoices or against a database. No more duplicate payments to vendors or incorrect general ledger mapping due to human oversight.
95%+ Touchless processing with human-in-the-loop
Maximize efficiency for your Accounts Payable team
With every new invoice, Docsumo's algorithms start recognizing your suppliers and invoices leading to 95%+ touchless processing. That way, your Accounts Payable team has to intervene only to spot exceptions - we call it automation with human-in-the-loop.
Manage your cash better with accurate invoice data
Get instant answers to 50+ data points like invoices due for payment, vendor details, tax rates, totals, discounts etc. Use this data to manage cash outflows better. Here's a sample of what you can extract readily from your invoices.
Basic Details
Vendor/Supplier name
Sales tax registration number
Invoice date
VAT Number
Vendor/Supplier address
Line Items
Item number
Unit price
Invoice amount
Tax rate/amount
Discount
Payment Data
Total without tax
Total tax
Advance paid
Payment due date
Amount due
Learn how Valtatech reduced invoice processing time to <30 seconds with intelligent automation
Solution
Docsumo's OCR module was optimized to extract accurate data from invoices that had varying fonts, image quality, and resolution. Our proprietary NLP-based classification framework was trained to categorize key value pairs such as invoice number, date, vendor details and totals.
<30sec
Invoice processing time reduced to <30 seconds
65%
Cost reduction due to accounts payable automation
99%
Touchless processing using smart validation rules
Ready to automate your data extraction?
Let's talk.
Docsumo's intelligent document processing enables you to extract data easily, efficiently, and accurately.
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