AI Assistant for Invoice Processing

The key features of the solution are the following:

• Invoice recognition and extraction
  

  The application recognizes and extracts data from invoices of varying formats and layouts. The application is trained on a dataset encompassing diverse invoice formats to ensure it can recognize a wide variety of invoices. Data extraction achieves an accuracy rate of 85% or higher, requiring minimal manual corrections from the accounting team.

  
  

  It uses OCR (Optical Character Recognition) and AI to convert a document, image, or scan to text, extract required fields, identify data (such as numbers, symbols, specific fields), and understand the context (e.g., "this is an invoice number").

• CRM data mapping
  

  It is fully integrated with Dynamics 365 CRM. The integration with the ERP system is also possible.

  
  

  The required entries are automatically created. Extracted data is mapped and populated into the corresponding fields in the records in the CRM. Besides, the original invoices are also uploaded to the record.

  
  

  It also supports duplicate checking, which AI and business logic rules detect automatically.

  
  

  The matching model utilizes predefined mappings, historical invoice data, and user feedback to continuously improve its accuracy and logic over time.

• Self-training model
  

  This model is unique in its ability to self-train. It uses an API to update account mappings based on user input (requires a small database and adds minimal cost).

  
  

  Continuing improvement helps the users to recognize and deal with more invoice types and constantly decreases input errors.

  
  

  The final goal is the following: the accountants are required to only confirm data and make fewer than 1% corrections with automatic recording of discrepancies.

We achieved these outcomes:

• The invoices are automatically processed: the data is recognized, transferred to the corresponding fields in the CRM records, split entries are created for each invoice line item, and these are matched with the correct general ledger account numbers.
• The assistant is trained to handle a wide variety of formats and layouts, as there is no single standard, and the clients send invoices in a format that is convenient for them.
• The assistant can automatically process invoices from letters sent to a specific email. That is, it pulls out the attached files, processes them in the background, and creates invoice records in the CRM. The users then only need to open them, review the data, make any necessary edits, and save them.
• The AI model improves continuously using past data and user feedback.
• The app detects incoming invoice numbers and License Plate Numbers matching them with appropriate vehicles.
• The accuracy exceeds 85%, so manual corrections are rare.
• The client can process invoices with many line items.
• The loads are performed in under 5 seconds with no noticeable lag.

For a more comprehensive understanding, refer to the Dynamic AI Assistant for Invoicing article in the UDS Blog.