Intelligent text recognition
in invoices with OCR
With optical character recognition (OCR) in invoices, the relevant data is extracted from scanned invoices or invoices in PDF format and converted into a machine-readable format that is both editable and searchable. Companies can integrate this functionality into all business processes via an interface, known as an API.
Customer references
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The intelligent invoice OCR reads all relevant fields and makes the extracted data available in existing systems or workflows.
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Vendor
Debtor
Contact
Order reference
Account details
Line item
Automated processing of incoming invoices with AI
The invoice OCR can recognize over 100 fields per invoice and thus extract data for invoice processing. Information can be recognized in a simple and structured way and the software automatically transfers this information to support your accounting department in invoice processing.
The screenshot shows one of the systems in which the OCR with AI was integrated via REST API. We will show you how to simplify invoice processing via API using intelligent text recognition and data extraction. To show how Konfuzios data processing works, this is the example of a system from one of our user software development partners.
OCR and AI for claims management
In addition to corporate applications, such as intelligent OCR in accounting, pools, primary insurers and reinsurers can also benefit from using the intelligent text recognition software. The following documents are often the basis for claims management.
- Medical bills
- Billing of physiotherapists
- Workshop invoices
- Proofs of purchase of e-bikes, ferry bikes
- Cost notes
- Court cost statements
AI security and DSGVO
The architecture of the AI platform Konfuzio is multi-client capable. This means that the AI model can be used for invoices in separate data rooms, so-called projects, and in defined user groups. Deletion concepts comply with the DSGVO and are possible for data of professional secrecy holders, who have to observe the legal duty of confidentiality of § 203 StGB. The software is operated on your servers or as a SaaS solution in the cloud.
The accuracy is improving steadily
The AI learns specific requirements from the content of your documents and achieves high recognition accuracy with full customizability after just a few calculations. Automatic tests ensure improved accuracy and zero downtime of the learning AI after each training session.
Professional feedback for the AI
Our AI can be used immediately and continues to learn. To train your own AI to classify and extract types other than invoices, you do not need an IT expert for simple AI models, just training for the specialist department.
Export of the invoice information
After data extraction Konfuzio allows easy export of documents to your financial accounting. Export your results as CSV, JSON or use our Python SDK. Download the read data bundled as a file or use many other integrations besides the REST API.
OCR API for invoices
The Konfuzio OCR software enables intelligent text recognition for 100+ languages and digital extraction of all relevant information from the respective text. This also applies to manually entered text in applications and documents. The video shows you all the functionalities of our API.
FAQ
Frequently Asked Questions
01.
How does an OCR with AI work?
OCR software with AI automatically scans the various fields of invoices and other documents - OCR recognizes which fields contain which information and extracts the corresponding data. After extraction, this data is transferred to the enterprise software.
02.
Which companies benefit from invoice OCR?
Any company that wants to optimize and digitize its invoice processes can benefit from OCR with AI. Data extraction technology is particularly interesting for companies with a lot of document and data processing. Read more use cases here.
03.
Which documents can be processed in addition to invoices?
The OCR with AI from Konfuzio can automatically read a wide range of documents. In addition to invoices, official documents, identity papers, various applications and much more, individual documents can also be defined and learned by the OCR with AI.
04.
Is the data collected secure?
Whether it's an invoice, ID card, application or contract: documents often contain private and data protection-relevant information. This is why data is always subject to the highest level of protection at Konfuzio and is only stored on servers within the EU. Data protection is guaranteed in compliance with the GDPR.
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