Extraction of invoice data via the INVOICE module
Client
Capital group managing real estate in Poland and Western European countries
Expectations
Reducing the manual workload of main office staff in the mass processing of invoices and accounting notes by using invoice data extraction. Leveraging advanced tools to optimize this process and automatically (without employee involvement) transfer key accounting data to an EDM-class system.
Project
The client decided to implement an effective tool to support the daily work of many secretariat employees. The project began with a thorough analysis of the documents being processed—including their types, data structures, the quality of scanned paper invoice images, input channels for the process, and the target requirements for modifying the current EDM system interface. As a result, two project streams were initiated:
- testing and implementation of optimal algorithms enabling autonomous extraction of accounting data from invoice images,
- to allow automatic population of accounting data in the EDM system based on the invoice data extraction process, it was necessary to redesign the system interface.
The real challenge was applying the most efficient machine learning algorithms capable of autonomously adapting to new invoice formats and templates. These algorithms had to extract key accounting data such as issue date, sale date, payment date, contractor name, net and gross amounts, VAT rates, currency type, bank account number, and many others.
Results
Ultimately, the effectiveness of FINTURE’s proprietary solution was confirmed through two-month testing periods in the target environment, under expert supervision from designated client staff. Moreover, the expected performance of the INVOICE Reader Module exceeded baseline client requirements, achieving a stable accuracy rate of over 85% across all processed documents and extracted accounting fields.
Info
Sector
Real Estate
Service
Machine Learning
Technologies
NLP Libraries,
Neural networks
Key figures
+2000
accounting documents processed per month
+30 000
number of accounting fields automatically read out per month
2
the number of reduced staff positions
IT Consulting
Our company, Finture, offers personalized IT consulting in solution architecture, audits, and analytical-advisory services. Moreover, we specialize in process inventory using Event Storming and provide consulting in compliance with DORA regulations. Additionally, our experienced team takes care of every detail, delivering high-quality solutions tailored to the unique needs of our clients.
Is Your Organization DORA-Ready?
W Finture świadczymy również usługi doradcze w zakresie przygotowania organizacji Digital Operational Resilience Act. Przeprwadzamy analizę BIA, określamy RTO (Recovery Time Objective) oraz RPO (Recovery Point Objective), budujemy procedury w oparciu o ISO 31000 oraz NIST 800-53.