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While many researchers are trying to approach this problem with artificial intelligence, the data accuracy is however still sub-optimal to say the least.
That being said, nowadays solutions work best when either the invoice format is known or only meta data needs to be extracted.
Important questions to ask are for example: By looking at the questions above, the big question which comes to mind is: How accurate and reliable are invoice scanning solutions? Even though there are still technical limitations, nowadays invoice scanning and processing solutions offer great results when your use-case falls into one of the two situations described below.
For a lot of businesses, the majority of invoices are issued by a limited amount of suppliers.
Over are the days of paper filing cabinets which used to occupy precious office space with the size of a little warehouse.
Over are the times of manually re-keying invoice data from PDF to your ERP system.
Converting PDF invoices to structured data formats (e.g.
While this already streamlines the business process and makes physical storage capacity irrelevant, one major problem persists: How to leverage the data hidden in those digitised invoices?
And how to easily access key data in invoices and move the data to where it belongs? Each invoice holds key data which is crucial for the accounting, resource planning and business intelligence applications.
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Once trained, all future documents having the same layout will be recognised and the invoice processing software will automatically extract data in a fine-grained structured format for further use.