Intelligent Invoice Processing


AI for Invoice Processing

Robust Solution
Digital Business

In spite of widespread digital ambition, many businesses still find themselves reliant on paper-based processes. To gain a decisive edge in today's market, businesses must take steps to develop methods of dealing with paper documents that not only serve the current purpose but also carry them closer to their end goal of full digitization. Supplier invoices are particularly troublesome, as no two look alike and often need considerable deliberation before they can be completed; such delays, combined with needing large teams of staff for processing, lead to longer turnaround times.

Cloudorizon's Intelligent Document Processing solution automates the supplier invoice solution for companies using Intelligent Invoicing Processing. Intelligent Invoicing Processing is an automated process that uses Workato's orchestration capabilities and Evolution Al's artificial intelligence (AI) and machine learning (ML) algorithms to automate and streamline the invoice processing and payment workflow. Intelligent invoicing aims to improve the efficiency and accuracy of the invoicing process, reduce the need for manual intervention, and improve the overall experience for customers and vendors.

Features include:

  • Pre-built invoice processing workflow using Workato recipes.
  • Seamless integration with Evolution AI’s computer vision and natural language processing (NLP) to extract the required data from your invoices.
  • Platform pre-trained on more than 25 million documents that can learn to read new documents without substantial additional training, to an accuracy of 99.8%.
  • Configurable business rules engine to validate invoices, including pre-configured business rules to check company and tax information against external bodies.
  • An approval process in your choice of Microsoft Teams or Slack.
  • A pre-configured rejection email to the supplier stating the reason(s) for rejection.
  • Easy integration with your Accounts Payable system.