Demystifying the myths about invoice OCR data extraction
[vc_row pix_particles_check=””][vc_column][vc_column_text] Accounts payable (AP) has evolved in the past few years. From manually entering invoice data into the company’s internal systems to reviewing the spreadsheets and sending it for approval, the process is now automated. Technologies like AI and machine learning have evolved invoice OCR AKA invoice data extraction from being human dependent to machine dependent. A series […]
Automated Purchase Order processing with KlearStack AI
[vc_row pix_particles_check=””][vc_column][vc_column_text] If you read our previous post on data capture from purchase orders, you must now be aware of what purchase orders are and what role they play in an organization’s long-term success. This post talks about how businesses can optimize Purchase order processing with KlearStack’s Ai-driven OCR and IDP solutions. It is important […]
Why data capture from purchase orders plays an essential role
[vc_row pix_particles_check=””][vc_column][vc_column_text] Industry leaders often tend to underestimate things that are crucial for their business. Out of all the documents that an organization has to deal with every day, purchase orders (PO) are indispensable. No matter how much you ignore customer purchase orders as the least important papers to handle, they are an integral part […]
Top 5 Ways to Mitigate Employee Expense Frauds
[vc_row pix_particles_check=””][vc_column][vc_column_text] “Business expenses” is a comprehensive term to define a company’s revenue being spent in investments, resources, employee salary and benefits, and even employee expense frauds. Even if the company provides a great deal of employee perks, A few of the employees tend to seek more. When they can’t get enough of it, employees look […]
Invoice Data Extraction Deep Learning is the Key
[vc_row pix_particles_check=””][vc_column][vc_column_text] While the age of digitization is transforming the way a business functions, it keeps posing new challenges in front of companies so they can evolve their processes. An organization receives tons of documents everyday; be it invoices, receipts, loan documents, mails, contracts, and what-not. Document information extraction and processing is the central concern […]
Factors to consider while selecting an invoice data extraction software
[vc_row pix_particles_check=””][vc_column][vc_column_text] How to automatically extract data from invoices? – “Use an invoice data extraction software!”- this is a common, yet vague answer many industry leaders often get. However, the mystery behind which is the right software remains unsolved. Consequently, business owners end up either wasting a massive amount of money on irrelevant software or simply […]
How Intelligent Document Processing Helps in Business Reputation Management
[vc_row pix_particles_check=””][vc_column][vc_column_text] Want to know how intelligent document extraction and processing software can help in business reputation management? Businesses depend on large volumes of data from various sources for their growth and success. Such data flows in a variety of formats, given the different origins, and makes it almost impossible for the human workforce to […]
Does Intelligent Document Processing Mean Uprooting OCR-based Document Scanning?
[vc_row pix_particles_check=””][vc_column][vc_column_text] IDP (Intelligent Document Processing) and OCR (Optical Character Recognition) are two connected terms, carrying different meaning and purpose of existence. With industry leaders capitalizing on latest technologies like IDP, there’s a common point of debate floating around in the industry – Will IDP uproot OCR-based document scanning? Or let’s put it across the other […]
How Shared Services Accounting can Improve Your Organization’s AP Processes
[vc_row pix_particles_check=””][vc_column][vc_column_text] Industry leaders often face challenges in spotting money leaks from their organization due to overpayments, erroneous payments, duplicate payments, or outright frauds. The finance teams form an integral part of an organization, and being overloaded with monotonous tasks, it fails to concentrate on its core competencies and ends up making mistakes. If you […]
Compare Shared Services and Outsourcing Accounting Services
[vc_row pix_particles_check=””][vc_column][vc_column_text] It’s indeed a tough affair to compare shared services and outsourcing for accounting and select the best one for your business requirements. Finance teams are constantly under pressure to perform at a desired speed in an organization. Whether it’s invoice processing, bookkeeping, accounting, and a lot more, back-office tasks are tedious and time-consuming. That said, […]