Automated Invoice Processing
Invoice Automation Software
SmartSoft Invoices automates the process of invoice scanning, invoice data extraction and classification. It provides recognition of data on scanned paper or PDF invoices, followed by verification, validation and exporting to speed up your accounts payable process.
- Automatically captures data from paper and PDF invoices
- Automatically classifies documents
- Supports structured, semi-structured and free text documents
- Integrates seamlessly with existing systems and processes
- Customizable and extensible
- Powerful API
- Enterprise-grade: robust, scalable and secure
Save money and time, increase the accuracy rates
SmartSoft Invoices is a cutting-edge invoice processing automation solution, offering advanced capabilities in the realm of intelligent data capture and invoice extraction. Utilizing artificial intelligence and optical character recognition (OCR) technology, the software extracts information from a wide range of document types, such as invoices, forms, and contracts.
With its ease of setup and deployment, along with customizable workflows, SmartSoft Invoices enables businesses to significantly reduce manual data entry, improve accuracy, and streamline document management processes.
By seamlessly integrating with existing enterprise systems, this powerful solution enhances productivity across the organization.
Intelligent Document Processing (IDP) - the Process
Extracts data from a variety of sources:
- Monitored folders
- Web services
Document Classification. Trained on custom data sets for maximum accuracy.
Extracts key data fields, tables, checkmarks, barcodes and signatures. Validates the data based on custom rules.
Optional human validation for low-confidence data extraction, used to improve accuracy and learn.
Flexible export options to integrate into various workflows. Exports to databases, ERP systems, web services and custom file formats
Automate Invoice Processing and Save Time – Invoice Automation Tool
Discover the power of SmartSoft Invoices – the intelligent invoice scanning and data extraction solution. With easy deployment, customizable configuration, scalability, and enterprise-grade features, it’s the ideal way to automate your accounts payable process.
Quick Setup and On-The-Fly Learning
Designed for simplicity, SmartSoft Invoices requires no complex configuration and can be used right out of the box. As it learns on the fly, there is no need for extensive upfront configuration.
Offers powerful tools for fine-tuning to maximize capture rate and accuracy for any document type, making it possible to solve the most challenging document processing tasks.
Intelligent Document Classification
Uses machine learning for accurate document classification. Custom training with your own documents ensures optimal performance in your unique document environment.
Scalable - Built for Growth
Designed to handle massive volumes of documents SmartSoft Invoices offers a distributed infrastructure that can seamlessly expand to meet the growing needs of businesses, making it the ideal scalable solution for businesses of all sizes.
Flexible and extensible
Offers easy integration with existing systems and workflows, and can be customized to meet the unique needs of the business with custom plugins. Supports both on-premises and cloud deployments, providing flexibility for system integrators.
Featuring full auditability, centralized user management, advanced analytics, and end-to-end security, SmartSoft Invoices is designed to meet the most demanding requirements and ensure data integrity for enterprise users.
Automate Invoice Processing
SmartSoft Invoices offers a convenient user interface that enables you to quickly and easily perform all necessary operations.
Every Feature you Need to Kickstart your Automated Document Processing
Reports and Analytics
Optical Mark Recognition
Security and Compliance
Role based permissions
Plus so much more!
FAQ about Automatic Invoice Processing
Q. What is automated invoice processing?
Automated invoice processing is a software solution that uses AI and machine learning to automate the entire invoice management process. It simplifies traditionally laborious tasks such as data entry and validation by automatically reading data fields and tables from incoming invoices whether they are in paper, email, PDF or other digital formats. The technology is designed to improve accuracy and enhance productivity, enabling businesses to focus on strategic tasks.
Q. How does automated invoice processing software work?
Automated invoice processing systems use (Optical Character Recognition) OCR technology to read data from scanned invoice documents. They classify the documents based on their type, apply configurable validation rules to ensure data accuracy, and then format the extracted data for integration with existing systems like accounts payable or ERP platforms.
Q. What is the difference between invoice data capture and OCR?
Optical Character Recognition (OCR) is a technology that transforms images into machine-readable text. Imagine you have a physical paper document, and you want to edit the text on it digitally. You would scan the document, and then use OCR to create a digital version of the text that you can edit on your computer.
On the other hand, data capture is the overall process of reading the data from various documents – in the case of invoices it extracts the data like invoice number, date, total amount, line items, etc. Data capture would use OCR as one step in the process – specifically to turn a scanned image into machine-readable text. But data capture also includes many other steps, like identifying which pieces of information are important by learning from the user’s feedback, checking that the information is correct (data validation), and organizing the data in a useful way.
So, in a nutshell, OCR is that step in data capture that converts an image to a set of text characters, while data capture makes sense of those characters to read and comprehend the documents.
Q. What type of documents can SmartSoft Invoices process?
SmartSoft Invoices can process various types of documents, such as invoices, receipts, purchase orders, contracts, financial statements, shipping documents, application forms, HR documents, insurance claims, medical records, tax forms, bank statements, delivery notes, questionnaires, utility bills, shipping manifests, bills of lading, packing slips, insurance claims forms and others.
The system can handle documents in multiple formats such as PDF, TIFF, JPEG, PNG, BMP, and scanned paper documents.
It can process both structured documents, where content is consistently placed, and semi-structured documents, where the placement of content varies such as invoices. It handles fixed-form documents such as medical forms, which often include checkboxes, multiple-choice selections, and fill-in-the-blanks sections. SmartSoft Invoices also employs Natural Language Processing (NLP) to understand and extract information from unstructured documents like contracts, where key data is embedded in flowing text without a consistent layout.
Q. What accuracy can SmartSoft Invoices automation software achieve?
The accuracy achieved by SmartSoft Invoices automation software can vary depending on the complexity of the document and the quality of the scan. However, in many cases, the software achieves an accuracy rate of 100%. When the rate is lower, the system offers fine-tuning options to enhance this figure, effectively learning from instances where a user corrects an error.
SmartSoft Invoices also provides aggregated reports to track accuracy within your specific document environment and identify areas that may require attention or configuration to improve the rate.