Invoice Processing

Extract all information from Invoices – multiple formats & vendors templates​

An Indian consumer goods company headquartered in Mumbai​.

An Indian consumer goods company headquartered in Mumbai​.

Challenge

Multiple-vendors, multiple formats, scanned invoices​ & multiple row items in each invoice.

Multiple-vendors, multiple formats, scanned invoices​ & multiple row items in each invoice.

Bar code stickers information to be extracted​, Current solution – done with a combination of standard OCR and manual update.

Bar code stickers information to be extracted​, Current solution – done with a combination of standard OCR and manual update.

Significant volume of invoices to be processed daily​.

Significant volume of invoices to be processed daily​.

Not all fields present in all invoices​, Stress fields provided for extraction​.

Not all fields present in all invoices​, Stress fields provided for extraction​.

Botminds Solution

Developed a model using our semantic understanding, table AI and other base models that are readily integrated in Botminds AI platform .

Developed a model using our semantic understanding, table AI and other base models that are readily integrated in Botminds AI platform .

Created taxonomy based on the stress fields provided, including the normalized values​.

Created taxonomy based on the stress fields provided, including the normalized values​.

Prepared a POC using 4 vendor and 15 documents​.

Prepared a POC using 4 vendor and 15 documents​.

Results

70%
Reduced processing time.

Prepared a working AI model in 1 week time, with limited sample documents​

30%
Cost Savings

Reduced 3-member team to that of only a core equity researcher.

100%
Accurate Data

Higher confidence value extraction with 100% Accuracy

5x
Productivity

Free-up resources from repitive tasks.

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