Internal operations
Invoice recognition and accounting reconciliation
An agent reads incoming invoices, extracts the data and reconciles it with the accounting records, so the team no longer re-types documents and matches them by hand.
Project facts
- Area: Internal operations
- Scope: invoice recognition, data extraction, reconciliation
The situation
Incoming invoices were entered into the accounting system by hand and then checked against the books one by one. The work was repetitive and grew with the number of documents.
What we built
- Recognition of incoming invoices and extraction of the key fields
- Transfer of the extracted data into the accounting records
- Automatic reconciliation of invoices with the accounting data
- A list of discrepancies for the team to review
Results
Invoice data no longer had to be typed in by hand, and reconciliation ran without matching every document manually. The team could focus on the discrepancies that needed a decision.
Want something similar?
Results depend on each company's processes, systems and data. Project descriptions are not a guarantee of similar results.