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Ingest invoices with 95% accuracy with next-gen, AI powered Invoice OCR
Automatically pick up invoices from emails, WhatsApp and more. Scan and book invoices with never before seen accuracy
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Safe and secure. Compliant with RBI guidelines & IndAS
Talk to Sales
Safe and secure. Compliant with RBI guidelines & IndAS
Trusted by more than 3000 companies
The Problem Today
Legacy OCR systems are unreliable and inaccurate
Legacy OCR systems offered with ERPs are outdated, unreliable and offer up to 65% accuracy while scanning invoices. This reduces trust in the system, and increases chances of error and need for human intervention
Compliance is ignored
Invoices are rarely checked for compliance issues - struck off PANs, incorrect GST, MSME,
e-invoice checks and more.
No central database
Invoices and vendor data is distributed, and often inaccessible when required for audits and future reference.
Unreliable OCR systems
Legacy OCR scanning only offers about 65% accuracy, reducing trust in the system and leaving invoices to be checked manually.
The Problem Today
AP teams spend 100s of hours booking invoices
This is not only a waste of time and productivity, but many a times the invoice booking process has compliance loopholes, uses outdated technology and there is no central storage system for audit readiness and future reference.
Compliance is ignored
Invoices are rarely checked for compliance issues - struck off PANs, incorrect GST, MSME,
e-invoice checks and more.
No central database
Invoices and vendor data is distributed, and often inaccessible when required for audits and future reference.
Unreliable OCR systems
Legacy OCR scanning only offers about 65% accuracy, reducing trust in the system and leaving invoices to be checked manually.
Outdated Technology
Legacy OCR systems rely on age old scanning technology that offers poor accuracy while digitising your data
Not Customised For You
These old school OCR systems are not trained on your vendor invoices. So they’re unable to read them well
Can be expensive
The cost per invoice can often be prohibitive, and reduce the chances of adoption of the technology
Introducing the most accurate Invoice OCR tool built for corporate finance teams
Invoice OCR with AI Smarts
Scan thousands of invoices with over 95% accuracy with AI powered Invoice OCR
Scan thousands of invoices with over 95% accuracy. You’ve seen OCR, but you’ve never seen OCR this good
Trained On Your Invoices
Machine learning algorithms that are trained on your vendor invoices to increase accuracy
Boost accuracy by training the AI model on your vendor’s invoices. Boost accuracy of the OCR system for your specific use cases
Get Alerted When Required
Use AI powered scanning with confidence. You’ll be asked to intervene when required
Get alerted when the OCR system detects a need for human intervention. Use your time, effort and human judgement to good effect to maximise accuracy
Automatic Invoice Submission
Never miss out on a vendor invoice again. Auto detect and pickup invoices from your inbox
Auto pickup invoices received on email or WhatsApp, or submit invoices via FTP or bulk upload. Review invoices for submission before adding them to your system
ERP & WMS Sync
Powerful ERP & WMS Sync for all your vendor invoices. Works with all ERPs
Sync your invoices in tremendous detail with SAP ECC, SAP B1, S4 Hana, Oracle, MS Dynamic and many more ERPs
Explore our entire suite of Corporate Finance Automation Products
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Unlock the potential of your finance team & boost productivity 10x. Let us show you how.
Book a free demo
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What is Invoice OCR Processing in AP?
Invoice OCR Processing in AP automation involves using OCR (Optical Character Recognition) technology to automate the extraction of data from invoices. This process, known as OCR invoice processing, converts scanned or photographed invoices into machine-readable text. OCR AP automation streamlines the accounts payable workflow by capturing essential data, such as invoice numbers, dates, and amounts, reducing manual entry errors and speeding up processing times. Utilizing the best OCR software for accounts payable ensures efficient and accurate OCR invoice extraction. AP OCR solutions are integral for modern financial operations, including OCR for receipts and other documents.
How Does OCR Invoice Processing Work?
1. Invoice Scanning and Uploading: Invoices are scanned or uploaded as digital files (PDFs, images) into the OCR system, ensuring accurate capture for processing.
2. Invoice Data Extraction: OCR software extracts key data like vendor details, invoice number, and amounts, using AI to enhance accuracy across different formats.
3. Invoice Data Conversion: Extracted data is converted into structured formats (XML/CSV) for easy integration with AP systems, ensuring standardized processing.
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4. Forwarding of Invoice Data: The validated data is forwarded to AP systems, where it’s matched with purchase orders, checked for discrepancies, and prepared for payment.
2. Invoice Data Extraction: OCR software extracts key data like vendor details, invoice number, and amounts, using AI to enhance accuracy across different formats.
3. Invoice Data Conversion: Extracted data is converted into structured formats (XML/CSV) for easy integration with AP systems, ensuring standardized processing.
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4. Forwarding of Invoice Data: The validated data is forwarded to AP systems, where it’s matched with purchase orders, checked for discrepancies, and prepared for payment.
Benefits of invoice ocr in ap automation
Faster Data Extraction
OCR invoice software enables rapid data extraction from invoices, significantly reducing manual entry. This speeds up invoice processing and improves overall AP automation efficiency.
Accurate Invoice Processing
With OCR invoice capture, errors from manual entry are minimized, ensuring accurate data for accounts payable. The best OCR for invoice processing streamlines AP tasks, enhancing accuracy and compliance.
Improved AP Efficiency
OCR for accounts payable automates repetitive tasks, freeing up resources for more strategic work. AP OCR solutions offer seamless integration, making invoice processing smoother and reducing operational costs.
There are Restrictions of OCR Invoice Processing
1. Accuracy Limitations: OCR technology can struggle with low-quality scans, handwritten text, or unconventional invoice formats, leading to errors in data extraction from invoices.
2. Complexity in Implementation: Setting up OCR invoice processing systems can be complex and time-consuming, requiring integration with existing AP systems and customization to handle various invoice formats and languages.
3. Cost Considerations: High-quality OCR invoice software and implementation can be expensive, potentially posing a significant upfront investment for businesses looking to automate their accounts payable processes.
2. Complexity in Implementation: Setting up OCR invoice processing systems can be complex and time-consuming, requiring integration with existing AP systems and customization to handle various invoice formats and languages.
3. Cost Considerations: High-quality OCR invoice software and implementation can be expensive, potentially posing a significant upfront investment for businesses looking to automate their accounts payable processes.
Here are a few reasons why you should choose Cashflo
1. Comprehensive Data Management: Cashflo efficiently collects and extracts accurate data using advanced OCR invoice technology, handling diverse data needs with precision.
2. Efficiency and Cost Savings: Cashflo simplifies workflows through OCR AP automation, streamlining processes like invoice extraction and processing, reducing costs and boosting efficiency.
3. Boosted Productivity: By automating tasks like OCR invoice capture and receipts, Cashflo allows teams to focus on strategic work, driving better business outcomes with accounts payable OCR software.
2. Efficiency and Cost Savings: Cashflo simplifies workflows through OCR AP automation, streamlining processes like invoice extraction and processing, reducing costs and boosting efficiency.
3. Boosted Productivity: By automating tasks like OCR invoice capture and receipts, Cashflo allows teams to focus on strategic work, driving better business outcomes with accounts payable OCR software.
Cashflo Invoice Management OCR Solutions
1. Advanced OCR Technology: Cashflo uses cutting-edge OCR software to accurately capture and extract data from various invoice formats, minimizing errors.
2. Seamless Integration: Cashflo’s system integrates easily with AP software, streamlining operations from invoice capture to payment, enhancing workflow efficiency.
3. Cost-Effective Automation: Automating invoice management with OCR AP solutions reduces manual labor, saving time and costs while boosting productivity.
4. Scalable and Customizable: Cashflo’s flexible platform adapts to different business needs, handling high volumes and specific industry requirements.
5. Enhanced Productivity: Automating tasks with OCR technology allows teams to focus on strategic activities, improving overall efficiency.
2. Seamless Integration: Cashflo’s system integrates easily with AP software, streamlining operations from invoice capture to payment, enhancing workflow efficiency.
3. Cost-Effective Automation: Automating invoice management with OCR AP solutions reduces manual labor, saving time and costs while boosting productivity.
4. Scalable and Customizable: Cashflo’s flexible platform adapts to different business needs, handling high volumes and specific industry requirements.
5. Enhanced Productivity: Automating tasks with OCR technology allows teams to focus on strategic activities, improving overall efficiency.
Frequently Asked Questions
How can I test the invoice OCR API?
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What is the OCR accuracy?
How much does Invoice OCR cost?
Does Invoice OCR work on low-quality images?
Is my data secure with Cashflo?
Are invoice line items extracted?
What type of invoices are supported?
Do you offer technical support?
Power your corporate finance team with CashFlo
Speak to an expert from our team to see how CashFlo can help you automate and elevate your corporate finance function
Book a free demo
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