Automated invoice recognition deep learning

This is about how an intelligent enterprise is created with SAP Business One with a proof-of-concept, Let’s review the accounts payable process one of the most critical and widely used processes in business operations. Accounts payable invoice automation process can provide great efficiencies, and significant savings on operational costs for enterprises. This creates a huge scope for process improvement and a need for an improved solution, that can be implemented at every organization.

There will always be tedious accounts payable workflow that goes through a tiring process of fact-checking, and tons of paperwork with any value transaction comes documents from both parties which need to be cross-referenced and verified to ensure a trustworthy interaction. Approximately 80% of invoices across the globe are shared in digital formats such as PDF or PNG via email.

Using artificial intelligence and machine learning, We have leveraged SAP Leonardo’s accounts payable machine learning service to extract labels or data from a paper or PDF document, the intelligent invoice plugin is looking for documents which look like invoices, the data it can extract includes vendor invoice, amount tax, and individual line items. The potential of machine learning means continuous enhancement as the number of invoices handled increases the accuracy of the recognition algorithm will increase, leading to less and less manual intervention. In our prototype, We have built this intelligent service as a loosely coupled extension to the Business one client. Invoices can be and created seamlessly from a PDF or PNG document.

While viewing an invoice in PDF format within the SAP business one client under the accounts payable invoice window, we select the import PDF function. By selecting the invoice in PDF format within seconds, the service extracts the data from these documents and creates a prefilled invoice business object. It has prefilled the vendor details, item details, quantities, and posting date details, for example, we can now add the accounts payable invoice to the system by navigating back to the invoice under attachments- we can display the PDF document referenced.

In this demonstration, We leverage Artificial intelligence and machine learning technology to automate business processes, using SAP Leonardo’s accounts payable machine learning service. the time and cost of consuming data entry is removed, the solution may appear rather simple but the impact is huge as we reduce the number of errors, The document goes through a smaller workflow, process are streamlined vendors get paid faster and employes a spared of redundant monotonous work and therefore talent is freed to focus on higher-value tasks.

Get started today.

Visit: www.emerging-alliance.com

SAP