Botminds AI – Automated Invoice Processing

Highlights

• Handle Multiple Invoice Formats - AI-powered Intelligent OCR with domain-specific models that can extract accurately across any number of vendor formats & variations in layouts, and deep-link to the source for quick audits
• 10x AP/AR Efficiency - Enable 100% extraction accuracy, group related invoices in a document set, 10X processing speed, enable ingestion from mailboxes or inboxes, automate approvals and PO matching.
• Improve Cash Flows - Process invoices for Accounts Payables or Receivables with nearly nil errors in minutes; automate your Standard Operating Procedures (SOPs) & improve profitability.
• Speed Up Invoice Closure - Leverage out-of-the-box integration to speed up the invoice process by routing extracted & validated invoice data into your existing ERP/Accounting systems, without custom integrations.

The platform has 4 key modules that are vertically integrated and available as one platform, under a single license -

• Capture - Automated data extraction from incoming invoices via mail or files uploaded in different formats with duplicate detection, eliminating manual paper invoice process and data entry - Handles 100s of invoices bundled together with ease as a single document set; Invoices with a long list of hundreds of line items are converted to structured data format. AI models for table understanding that identify rows and cells in a table accurately & automatically identify each line item as logical groups.
• Search - The high-precision, vertical search engine gets you to the supplier’s invoices, and POs using user-defined queries and filters across invoice data fields such as names, descriptions, notes, type, custom index fields, flags, associated dates, and even their text contents with just a few clicks.
• Analyze - Template-free invoice extraction, predefined reports, customized dashboards, and metrics give Finance and Accounts department team members a full view of spending and help businesses manage better cash flow.
• Automate - Automatically manage approval workflows and route the low confidence extractions for review before generating the records while maintaining a data trail of all handoffs between the users and automation.