Invoice Capture just got even smarter with AI

July 2024 - Proactis, the leading Source-to-Pay software solution provider, is excited to announce that it has added machine learning capabilities to its already powerful Invoice Capture solution. Using AI to extract data from invoices, our most advanced invoice capture solution yet drives even greater efficiency and accuracy, minimising duplication, errors and further reducing the need for manual intervention throughout the AP automation process.

The solution can capture invoices and convert non electronic data (paper and PDFs) into truly electronic invoices, validating the accuracy by checking for a PO, duplicates and a valid supplier, and then seamlessly transfer them into a finance system for matching and payment approval. The fully automated software offers efficient invoice management which enables complete audit visibility, stronger compliance and fast query resolution.

Leveraging best-in-class Microsoft AI and ML technologies, Proactis' best extraction engine yet, combined with the innovative query desk capability, means Proactis now provides unrivalled extraction and query resolution processes that fully support "No PO, No Pay" best practices and enables supplier resolution to drive optimal efficiency with the receipt and entry of invoices – ultimately making invoice processing more efficient, more accurate, and faster.

"We are really excited about launching our new capabilities because of the positive impact it will have on our customers. This innovation is part of the key technology investment themes that we outlined at ReThink earlier this year to help users become more productive through Applied Intelligence. By combining our market-leading and proven solution with new AI and machine learning capabilities, we are very excited about launching the most advanced and powerful invoice capture solution on the market. We are now providing customers with the next generation invoice processing capabilities to help support and drive their business goals in the current and future business and economic environments,” says Proactis CPTO, Toby Davidson.

Invoice Capture is a invoice data extraction solution. It uses machine learning and OCR to read supplier invoices - regardless of format or layout - and convert them into structured digital data. That data is then delivered to your P2P or ERP system, ready for matching, coding and approval. Invoice Capture removes the manual effort of keying invoices, reduces errors, and accelerates the start of your AP process.

Toby concluded “We’re delivering some powerful innovations that are creating a new breed of Source-to-Pay technology – that’s simple and intuitive to use, provides access to valuable insights and puts our customers in full control of their Source-to-Pay processes. Keep watching this space.”

Read more about Proactis AI here.
Read more about Proactis Invoice Capture AI here.