It eliminates the manual intervention in invoice processing which leads to a reduction in errors, cost, and inefficiency
Traditionally, Invoice processing has been among the most time-consuming and error-prone tasks in any organization. Every day, invoices worth billions are processed thereby making it cumbersome for the accounts payable department to verify, extract data manually, download and finally process data for payments. The advent of digital transformation has accelerated automation of this process thereby improving efficiency, effectiveness, reducing manual errors, and enabling enterprises to save cost.
EXACTO™ Invoice is HCL’s patented Artificial intelligence, Deep learning & NLP-based document processing platform designed specifically for capturing data from invoices, receipts, and purchase orders. Integrating seamlessly with multiple sources, EXACTO™ Invoice can process documents in more than 13 languages and provides AI/ML-based document classification & Digitization capabilities.
EXACTO™ Invoice recognizes invoices and extracts fields like Invoice number, Invoice date, Invoice amount, header, line items etc. It has self-learning feature which takes feedback from the user and improves extraction results.
Product Features
Self-Learning
Business Rule Application
EXACTO™ Invoice creates queues of documents to be processed on the basis of business rules and also classifies the documents. It follows the mailer-checker flow by first extracting the data from the document and then validating the output based on business rules defined during customization.
Product Benefits
Enhanced accuracy
Recognizes data in unforeseen and complex invoices and performs extraction with excellent quality
Ready to use solution
Easy to deploy and use with hosting available in on-premise or in the cloud
Self-Trainable solution
EXACTO™ Invoice can be trained to locate data in case the required field is not captured and eventually eliminate the need for configuration
Straight Through Processing
Automates the document processing system from the invoice received to posting of results without any manual intervention
Case Studies
Enabled simplified, automated, multi-lingual output for a Finnish paper manufacturer
EXACTO™ Invoice automates invoice & CMR processing and providing straight through output in multiple
European languages and multiple integrations; thereby saving costs and facilitating faster turnaround
times
Transforming Invoice processing for a Swedish Motorbike Manufacturer
EXACTO™ Invoice automation resulted in productivity improvement and removal of repetitive tasks thereby
eliminating the probability of human errors in invoice processing in multiple European languages.
Next Gen digitalization of Invoice processing for a US based Digital Manufacturer
EXACTO™ Invoice automates Invoice Processing system to improve visibility, tracking of invoices, improve
quality of services, increase efficiency of operations and monitor the complete process
EXACTO™ Invoice - MAKING AI A REALITY FOR DIGITAL PROCESS OPERATIONS
EXACTO™ Invoice is a part of the overall EXACTO™ offering. To know more about EXACTO™ and all the offerings, please visit here.