Despite the rapid growth of digitization and automation technologies, accounts payable is one of the business processes that are needed to optimize as the current exercise still has to issue a massive amount of documents, especially invoices.
Processing invoices manually leads to slowing down business operations and also ultimately affects your client’s experience.
DIGI-TEXX Invoice Processing Service
Applied AI Technologies
DIGI-TEXX offers digital solutions and services applying modern technologies: AI OCR (Optical Character Recognition), Machine Learning, Deep Learning, and NLP (Natural Languages Processing) to boost the automation process of capturing and extracting invoice data.
Typical Steps in Invoice Processing With AI Technologies
DIGI-TEXX’s invoice processing services are adaptable to the unique requirement of clients’ specific industries. We provide customization workflow upon your operating models. There are 3 typical steps:
Whether an invoice is received via mail, as a PDF attached, scanned hand-written forms, image, or as an e-invoice, our system will automatically classify if the received document is an invoice or not. Our algorithm sorts out all ads, spam, and other non-invoice documents.
By applying NLP technologies, DIGI-SOFT’s system – an in-house platform will analyze three sections: header, footer, and body of the invoice. The engine itself detects the invoice’s logo and billing information (date, address, tax code, etc…).
Then, the engine will compare the information with the data provided by the clients to ensure the invoice is matched. If the invoice data is matched with the client’s data, the system will extract and export data in different formats (HTML, CSV, JSON, etc.), then return it to your system. However, when an unmatched case appears, our engine will alert and request verification.
Before applying DIGI-XTRACT to extract data, DIGI-SOFT will detect all the fields on the invoice, this we call the auto-detection step. By doing this, the OCR engine only needs to extract a specific predefined field instead of reading the entire invoice which is time-consuming.
At DIGI-TEXX, we constantly enhance the confidence level of our AI engine to improve output’s accuracy rate which will be a stepping stone to autonomous process control.
With the latest Machine Learning technologies, our algorithm is able to learn, adapt, and process new invoice forms in different languages and formats.
Leveraging state-to-the-art technologies, DIGI-TEXX has the capacity to process 25,000 invoices/day and reach 40,000 invoices/day during peak season.
Guaranteed Service by Experienced Workforce
The information on invoices requires to be processed with a high accuracy rate. The billing information needs to be precise so the invoice can go under further steps for workflow approval and payment.
Depending on the complexity of the industry and the language used on the invoice, our automation technology can process from 92% to 97% of the entire process. We ensure 100% data accuracy guaranteed by our experienced workforce.
360-Degree Invoice Verifying Service
Since 2013, we have developed in-depth knowledge and experience in processing various invoice types. We also offer a 360-degree service that supports validating and verifying invoice information with our well-trained specialists.
Our specialists support:
- Verify all supplier invoices to ensure that the paid bills have been accepted.
- Call and validate the information with the suppliers to make sure the invoices are addressed correctly.
- Communicate with clients and handle incidents.
Benefits of Using Invoice Processing Services
Processing invoices automatically enables your business to handle more payments and strengthens your operational & financial agility.
- Cost savings: By reducing manual labor and minimizing errors, businesses can save on operational costs, freeing up resources that can be used to grow the business.
- Reduced fraud risk: Process invoices automatically help reduce the risk of fraud by applying a better tracking, validating, and monitoring platform like DIGI-SOFT.
- Improve accuracy: Automated invoice processing systems can accurately capture invoice data, reducing the risk of minor errors.
- Seamless quality control process: A centralized quality control step helps both internal and external audit processing be more straightforward. At DIGI-TEXX, we utilize our experienced workforce to support handling exceptional cases to guarantee higher levels of data accuracy.
- Compliance with the country’s regulations: E-invoice processing and VAT compliance are one of the top challenging parts for many companies, especially for those that operate in different countries with different legal regulations. DIGI-TEXX ensures all invoices will be issued and archived according to the nation’s regulations by complying with GDPR, ISO 9001:2015, and ISO/IEC 27001:2013.