Invoices are still processed manually when the use of AI could make the process faster and more cost-efficient.
Usually, companies process invoices manually, not by AI. It is understandable because companies can get multiple invoices in different formats. Then no-one might see the automated process very realistic. Manual work can easily waste valuable working resources, which is why Elinar created a groundbreaking way to process data, ElinarAI™. We can train ElinarAI for you to do routine tasks that waste your company’s working resources. The solution bases on IBM’s leading technology and AI.
AI can process invoices
When it comes to invoicing processes, we can train AI to read and understand the information found in different invoices. Training AI happens by using the company’s old invoices. And the more material there is, the faster the AI learns to understand the company’s working environment. This way ElinarAI™ can interpret from the context of what information there is even when it faces with a new format. In cases of uncertainty, it will pass on the invoice to a worker to solve it. But after the worker has solved and returned it back to AI, it learns from him/her and won’t bother the worker with a similar case again. This is exactly how AI learns how to use the information it gathers.
Lower costs and better results
Until this point invoicing has been manual work with a likelihood of mistakes, but now the AI goes through the invoices with precision. It also 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 this, of course, 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, from now, workers can use their valuable working resources on something more productive. Even if your company had externalized the invoicing process partially or fully externalized, changing into the AI solution will give out better and more precise data while saving the costs. ElinarAI™ is possible to scale into any size of organizations that have data to process.
Do more by doing less
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. You see, the ElinarAI™ is in use in many different sectors. We can train the AI to recognize context and the most relevant information for your company by providing example material from the company’s 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 AI can do more effortlessly and cost-efficiently, is not wise. 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.