HOW WE STAND OUT
What is Pixl’s
Invoice OCR Software?
Invoice OCR enables developers to integrate OCR for extracting invoice data. Our technology powers Generative AI to convert invoice images into searchable digital formats using prompts.
Machine learning algorithms are employed to improve data extraction accuracy. These algorithms learn to recognize patterns and adapt to variations in invoices, ensuring that data is accurately captured. AI also assists in context recognition. For example, it can identify key information such as invoice numbers, dates, and vendor details, even when the formatting varies from one invoice to another. This adaptability is crucial in handling diverse invoice formats.
AI enabled data extraction with high accuracy
Take advantage of our meticulously tested OCR APIs, meticulously trained on extensive document datasets. This ensures exceptional accuracy and reliability right from the outset.
Capture data from any source
Effortlessly collect and import data from a wide array of origins and file types, including images, PDFs, scanned documents, physical paper records, emails, cloud storage services, APIs, and beyond.
Simplify workflows and operations
Invoice OCR simplifies workflow by automating the extraction of data from invoices, significantly reducing manual data entry and associated errors.
Invoice Annotation And Training
Invoice annotation involves labeling extracted data to train machine learning models for accurate invoice recognition and extraction.
Textual annotation
Visual annotation
What is invoice annotation
Invoice annotation is the process of adding labels, annotations, or contextual information to the content of invoices to make it more understandable and interpretable by both humans and automated systems. The different annotation techniques are -
Working of Invoice OCR API
Invoice OCR (Optical Character Recognition) with LLM and Generative AI involves the use of advanced technologies to automate the extraction and processing of information from invoices. Here's how it works:
Scanning or Uploading
Invoices are scanned or digitally uploaded into a system that can process OCR.
DATA CAPTURE
Fields that can be Extracted
Save your valuable time by avoiding the hassle of training a brand new invoice OCR model. Our solution is already equipped with advanced capabilities to accurately identify a diverse range of invoice fields.
Invoice number
PO number
Currency
Vendor/Buyer name
Vendor/Buyer Address
Vendor/Buyer Phone
Vendor/Buyer email
VAT ID
Tax ID
Payment Method
Bank name
Bank code
and many more fields!
Reducing Manual Data Entry
One of the most significant benefits of AI-Enabled Invoice OCR technology is the elimination of laborious manual data entry. With OCR, invoices can be scanned and automatically populated into accounting systems, saving countless hours and minimizing the risk of human error.
Accelerating Invoice Verification
Furthermore, the technology facilitates rapid invoice verification by cross-referencing the extracted data with predefined criteria, ensuring that invoices are accurate and comply with company policies. This acceleration is a boon for businesses dealing with a high volume of invoices.
Online shopping fraud
Age gating: Identity verification APIs can be used to age gate websites and services that are restricted to adults. This can help to protect children from accessing harmful content.
Detecting Discrepancies and Anomalies
In addition to reducing errors, AI-Enabled Invoice OCR can detect discrepancies and anomalies within invoices. This proactive approach helps businesses avoid costly oversights and ensures that every invoice aligns with predefined standards.
Cloud-Based Solution
The accessibility of invoice data is no longer limited to a specific physical location. Cloud-based AI-Enabled Invoice OCR solutions enable businesses to access and manage their invoices from anywhere, promoting flexibility and remote work
Integration with Existing Systems
These systems seamlessly integrate with existing financial and accounting software, ensuring a smooth transition and minimal disruption to your current operations.
Ensuring Regulatory Compliance
In the modern regulatory landscape, compliance is paramount. AI-Enabled Invoice OCR technology aids in ensuring that all invoices adhere to the latest financial regulations and reporting standards.
Data-Driven Decision Making
The ability to derive insights from financial data empowers organizations to make data-driven decisions, ultimately contributing to their growth and financial stability.
FAQS
Frequently Asked Questions
These solutions offer benefits such as automated data entry, reduced errors, streamlined approval workflows, and significant cost savings.
AI-Enabled solutions prioritize data security and often include encryption and access controls. They are designed to comply with data privacy regulations.
AI-Enabled Invoice OCR is designed to handle various formats and languages. It uses machine learning to adapt to diverse document structures and can recognize text in multiple languages, making it versatile for global use.
AI-Enabled Invoice OCR primarily focuses on printed or typed text. While it can handle some handwritten text recognition, it may not be as accurate as with printed text. Handwriting recognition technology is a separate field.
Yes, many AI-Enabled Invoice OCR solutions are designed to integrate seamlessly with popular accounting and Enterprise Resource Planning (ERP) software. This compatibility streamlines data transfer and ensures efficient use of the technology.
Implementation timelines can vary based on the complexity of the organization's needs. Generally, it can take a few weeks to several months, depending on factors like data volume, customization, and training requirements.
Security is a top priority for these systems. Data is often encrypted, and measures are in place to protect sensitive financial information from unauthorized access. Additionally, compliance with data protection regulations is commonly observed.