Easie launches automatic invoice analysis software using AI to support finance industry
Automatically reviewing invoices offers up to 95% time savings to focus on other areas of business.
Businesses are still recovering from the lack of workers willing to take on entry-level positions (1). Given the paradigm shift in work and life priorities since the pandemic, some of these roles may never be filled. As a result of these worker shortages, companies may be forced to assign experienced staff with duties usually given to these entry-level roles.
Many jobs are becoming automated through the use of robots in areas such as manufacturing, logistics, maintenance and financial services. Often neglected are business processes that are essential, but normally performed by entry-level staff.
Such necessary duties involve firms assigning an employee the task of manual review and data entry of hundreds to thousands of invoices into an enterprise resource planning (ERP) system or a request to analyze the taxability of a series of past purchases. Processing a large quantity of invoices and documents manually leads to several issues:
1. Human error as values may be miskeyed or misread.
2. Worker fatigue from performing the same tedious task for an extended period of time.
3. Inefficiency since not all invoices are the same. Therefore, the reviewer has to spend time finding key information in different spatial areas of the document.
4. It takes an incredible amount of time to manually review invoices.
Easie is proud to announce the launch of our new fintech product, Easie Invoice AI at ai.soeasie.com. We are rolling out custom machine learning and fintech products to create automated solutions for the finance industry and beyond.
Easie Invoice AI represents the first fintech product offered as part of our Easie Document AI software suite.
Figure 1.1. - Demo of uploading process and automatic invoice recognition from Easie Invoice AI
“The Easie engineering team developed this custom solution to assist our clients working in the finance industry. Oftentimes, professionals are faced with doing work that doesn’t advance their career in a meaningful way. At Easie, one of our core principles is to find better ways to do work. We’ve seen clients struggle with tasks such as reviewing and analyzing thousands of invoices on a monthly basis. We’re excited to offer a viable streamlined solution so more businesses can provide their workers with the right tools to increase performance and spend their time achieving their fullest potential,” says Rock Vitale, CEO of Easie.
Easie Invoice AI works in three simple steps:
1. Drag and drop multiple PDFs or PNG image files into the invoice upload popup.
2. Using proprietary computer vision technology, Easie Invoice AI rapidly analyzes the invoices. The software returns identified key fields and values in our live interface, displaying document processing statuses in real time.
3. Users may preview scanned invoices, edit and review values, and export scanned invoice jobs into a CSV file for high-level summarized human review.
Easie’s invoice analyzing technology detects handwritten notes on invoices as well. Existing invoice recognition software solutions often aren’t performing tasks to desired user needs. Easie’s products may be further customized to integrate into any business application, user experience, or format as needed.
Learn more about Easie Document AI suite here at ai.soeasie.com.
Figure 1.2. - Demo of document detail view after upload and automated analysis from Easie Invoice AI
How can machine learning improve your business?
Easie is expanding development of custom B2B automation solutions using machine learning, computer vision and artificial intelligence for multiple areas of business. Easie continues to explore ways to optimize business performance with our centralized network of professionals and developers. Easie is a consulting firm for all business needs. We have experience in over 40 different knowledge domains from previous and current projects. Easie can help your business with anything.
Interested in learning more? Schedule a free consultation with our team to get started.
Easie invoice AI is part of our larger Document AI suite related to machine learning invoice recognition. Easie’s proprietary invoice processing AI provides invoice automation machine learning, receipt recognition machine learning, machine learning invoice processing, invoice reader, invoice recognition software, invoice automation, automated invoice processing, AP automation software, invoice automation software, accounts payable invoice automation, AP invoice automation, accounts payable automation software and more.
The information contained within this article is not designed to offer legal or tax advice. It is to be used for informational purposes only.
Citations
This article was edited by Rebecca Gray, Dominique Sobieski and Rock W. Vitale.
