Invoice Reconciliation and Processing

Invoices are the DNA of every organization’s financial systems – it’s how you generate revenue and pay your expenses. Invoice reconciliation can be a time-consuming manual procedure and processing invoices that look different from each other, can be multi-paged, and have multiple tables can be cumbersome to extract data.

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Overview

Invoice extraction needs to be precise and accurate. Invoices often need to be reconciled with payments in order to find discrepancies. This entire process can be automated utilizing AI.  Over the years, invoice reconciliations have become more and more complex as the number of transactions grows. Missing or incorrect data caused by manual input and processing of invoices presents a number of challenges that result in unnecessary costs while reducing efficiency. Invoice extraction needs to be precise and accurate. Invoices often need to be reconciled with payments in order to find discrepancies. This entire process can be automated utilizing AI.

 

Solution

Leverton’s invoice AI outperforms even the most advanced RPA and rules-based automation systems. It is able to extract and manage data from invoices that have highly complex and unique structure, along with handling basic sets of invoices as well. Leverton’s AI capacity allows it to process tens of thousands of documents with its own OCR every single day. Invoices can also be easily reconciled against checks using our check extraction platform as well. The best part is you can leverage Leverton for small batches of invoices or large volumes and really speed up your invoice reconciliation process.

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Case Study

A developer of Robotic Process Automation (RPA) software engaged Leverton to determine the viability of AI abstraction for their invoices. ​ LEVERTON created a custom data model, and created a central, organized and consistent database of information, enabling the company to conduct day-to-day operations more efficiently. Leverton provided a cost-effective, quick, and reliable data abstraction solution, and incorporated various services desired by the client such as labeling function. The extract template deep-scrub process by the Leverton team ensured 100% client satisfaction.

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Why use Leverton AI?

1
Complex capabilities

High volume and complex invoice processing capabilities

2
Data uniformity

Structured data to reconcile with existing sources

3
Integrations

Integration with leading accounting platforms like SAP or Quickbooks