Invoices are still processed manually when the use of AI could make the process faster and more cost-efficient.
Processing invoices is most often done manually. It is understandable because companies can get multiple invoices in different formats and automating that process might not have seemed realistic. Manual work can easily waste valuable working resources, which is why Elinar created a groundbreaking way to process data, ElinarAI. Based on IBM leading technology and artificial intelligence, ElinarAI can be trained to do routine tasks that don’t effectively use the companies working resources.
AI can be trained to process invoices
When it comes to invoicing processes, AI is trained to read and understand the information found in different invoices. AI is trained by using the company’s old invoices, the more material there is the faster the AI learns to understand the company’s working environment. This way when ElinarAI is faced with a new format it can interpret from the context what information there is. In cases of uncertainty, it will pass on the invoice to a worker to solve it, but after solving it the AI won’t bother a worker with a similar case again but learns how to use the information it gathered.
Until this point invoicing has been manual work with a likelihood of mistakes, but now the AI goes through the invoices with precision and categorizes the invoice data into the right places. This doesn’t only speed up the invoice process but it also reduces the mistakes made and lowers the costs. And most importantly, now the people in charge of economics get more precise costs analytics to support their decision making. This makes it possible to concretely direct resources into creating and developing businesses.
In this automated process, all that is left for a human to do, is to supervise and develop the decisions ElinarAI makes. In the background the AI will constantly keep on learning and developing, so the valuable working resources used previously on this task can now be used on something more productive. If the invoicing process has been partially or fully externalized, changing into the AI solution will give out better and more precise data while saving the costs. ElinarAI can be scaled into any size of organizations that have data to process.
By doing less you’re doing more
ElinarAI is an artificial intelligence solution, that uses text analytics to recognize and catalog information from different formats. As an innovation it is based on machine learning, deep neural nets, efficient data multiprocessing and easy to use AI training system. ElinarAI is already in use in many different sectors. Training the AI to recognize context and the most relevant information for the company is done by providing example material from companies previous documents. This solution has a basic capability to recognize text in any language.
Organizations should inspect their processes with more criticism and bravely commerce on needed actions to improve. Wasting working resources and motivation on tasks that can be done more effortlessly and cost-efficiently, is not. In the mass of thousands of promises on the IT market, it brings safety to know that the costs of ElinarAI are personally calculated for you beforehand, eliminating the chance of unwanted surprises. Elinar can provide consultation, system transfer, installation and maintenance services – everything you need to get more done by doing less.