Innovo Invoice helps you digitize incoming supplier invoices, making the processing task more seamless. Please keep in mind that this process works best with files that have optimal image quality.
When we receive a file, we use a combination of OCR, machine learning and business logic validation to accurately extract data from invoices.
How does this work exactly?
- OCR converts the image or PDF of an invoice to text.
- We then run statistical models (machine learning algorithms) to extract the relevant data from the invoice.
- When we extract a value from the invoice, our algorithms run business and logical validation on the relevant data.
For example, for the GST amount extracted from an invoice, we compare this number with the total amount to ensure it's the correct percentage. In the case of a date that has been extracted, we ensure it is in a date format. Our solution uses deterministic rules to bolster the accuracy of the data extracted.
- If there is a match, the document is processed automatically without human interaction from Innovo Invoice. This means that the data extraction will be done quickly.
- If an exception occurs, a comprehensive exception management tool will isolate and identify the exceptions, allowing the required intervention to be focused and prompt.
When you submit an invoice, it's recommended that you send it in PDF format or as a scanned document with a good visual quality.
TIP: To make the process smooth, try asking your suppliers to send you invoices that are in PDF format instead of paper. Similarly, if you do have paper invoices on hand, you can set your scanner to a 300dpi resolution to ensure the resolution is good.
For scanned documents (PDF, JPEG) in low resolutions, we are limited by the capabilities of OCR alone. There may be times when a human may be able to discern the values on the invoice, but the algorithm fails to pick up the data. This happens mostly when pictures are taken with smartphones.
What documents are difficult to process?
If you send in these types of files, the processing is done manually, which means you will have to wait longer for the results.
- Paper that is not a scan but a photo, or a low DPI scan
- Images of low-resolution
- Handwritten documents
Ready to get started?
The best way to test Innovo Invoice is to upload older invoices and then newer invoices from the same suppliers to see first-hand how Innovo Invoice performs and improves the process.
If you'd like to know more, or have any further queries, please feel free contact us at [email protected]. 👋🏻