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 own patented Artificial intelligence, Machine learning & NLP-based document processing product designed specifically for reading and extracting information from invoices, receipts, and purchase orders. It eliminates the manual intervention in invoice processing which leading to a reduction in errors, cost, and inefficiency.
EXACTO™ Invoice recognizes invoices and extract 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.
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.
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
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