How does smart invoice automate OCR processes?

In invoice OCR, the relevant data is extracted from scanned PDF invoices and converted into a machine-readable format that is both editable and searchable. Companies can integrate the functionality into all business processes via an interface, a so-called API. Konfuzio offers companies various use cases in addition to invoice OCR: Delivery Note OCR, Payment Advice OCR, Purchase Orders.

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Watch the video to learn how you can easily test Konfuzio's intelligent OCR AI.

Automate incoming invoices from your accounting department with OCR and AI

Invoice OCR software can recognize over 100 fields per invoice and thus extract data for invoice processing. Information can be easily recognized in a structured way and this information is automatically transferred by the software to support your accounting department in invoice processing.

  • Vendor
  • Debtor
  • Contact
  • Order reference
  • Account details
  • Line item

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.

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Automate invoice receipt through AI and OCR

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.

  • Workshop invoices
  • Proofs of purchase of e-bikes, ferry bikes
  • Cost notes
  • Court cost statements
  • Medical bills
  • Billing of physiotherapists
At this point, AI helps identify line items in claims that require special human attention. However, the applications for AI of invoices are diverse and not limited to claims processing. Contact us to receive the Horn & Company study free of charge.
Claims processing with AI

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.

Server infrastructure

The accuracy is improving steadily

The AI learns specific requirements through the content of your documents and achieves high recognition accuracy after a few calculations while remaining fully customizable. Fully automated testing ensures accuracy improvement and zero downtime of the learning AI after each training.

Learning curve of AI through continuous learning

Professional feedback for the AI

Our AI is ready to use, yet continues to learn and improve accuracy. To use own AI for classification and Extraction types other than invoices, you do not need an IT expert for simple AI models, but only training for the business 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.

View available integrations

Selection of extracted data for CSV download

OCR API for invoices

The Konfuzio OCR software provides you with intelligent text recognition for 70+ languages and digital extraction of all relevant information from the respective text. This also applies to text entered by hand in applications and documents. The video shows you all the functionalities of our API.

Learn more about Konfuzio's OCR API

OCR API for intelligent text recognition

FAQ

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.

Which companies benefit from invoice OCR?

Any company looking to optimize and digitize invoice processing can benefit from OCR with AI. Data extraction technology is of particular interest to companies with a lot of document and data processing. Examples of how to implement advanced data processing can be found here. here.

Which documents can be processed besides invoices?

Konfuzio's OCR with AI can automatically scan a wide variety of documents. In addition to invoices, official documents, identification papers, various applications and much more, new documents can also be defined and learned by OCR with AI.

Is the data collected secure?

Whether it's an invoice, ID card, application or contract: documents often contain privacy-relevant information. Therefore, the data at Konfuzio is always subject to the highest protection and is only stored on servers within the EU. Data protection is therefore guaranteed DSGVO compliant

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