Why is KlearStack the best software for Invoice Processing Automation?

Why is KlearStack the best software for Invoice Processing Automation?

(Last Updated On: January 19, 2023)
  1. Proprietary AI based solution that needs NO templates. Hence, saves tremendous amount of time and money for the customers.
  2. Highly efficient and unique AI algorithm for ‘best-extraction-in-industry’.
  3. Extracts entire invoice data, including line-items, @ 95% + accuracy
  4. Supports wide-range of file formats such as PDF, JPG ,TIFF. No restriction for file uploads.
  5. Bulk invoices processing as well as Multi-page invoice data extraction available.
  6. With our solution, customers can be up and running in less than 7 days
  7. We offer purely subscription-based model. No up-front license fees.
  8. Highly efficient and unique AI algorithm for ‘best-extraction-in-industry’.
  9. AI Models trained on one of the most complex data layout- Indian invoices, in addition to international ones.
  10. On-prem model is also available.

Let us see what makes KlearStack the best software for invoice processing automation. Here we compare the top invoice automation solutions in the industry that require users to draw templates, i.e. the boxes around invoice details in order to get trained. Also read how KlearStack is purely AI based algorithm that overcomes these limitations.

Features Compared: KlearStack AI V/s Template-based Data extraction.

Existing Template-based solutions in Industry KlearStack
  • User needs to define templates for each different layout of invoices and this takes time.
    E.g. if there are 1000 variation of invoices, you need to define 1000 templates.
  • No templates needed. Extracts data using Deep Learning models.
  • It takes time to define templates.

E.g. For 1000 invoice layouts, it will take approx. 500-700 person days to define all the templates.

  • User saves the template definition time and effort, since no templates need to be defined.
  • Slight change in invoice layout needs to retrain template, which is not scalable.E.g.     Supplier name position           changes from right to left         part of invoice.
  • Machine Learning models handle the data extraction even if the invoice layout changes.
  • Need trained resources for defining or modify templates.
  • You don’t need specially trained template developers
  • Up-front license required per template developer
  • No license. Default business model is SaaS. Only subscription fees need to be paid (based on usage)
  • Setup process is tedious. For ex: Flexicapture needs to be installed along-with the pre requisites on every template developer’s PC
  • SaaS delivery model. Hence nothing needs to be installed locally.However, On-Premise option also available, if required.
  • Line items with multiple span will not get properly extracted.
  • Intelligent extraction of line items, irrespective of the span.
  • Supports multiple languages, since this relies on templates.
  • KlearStack supports English currently. ML models can be trained for additional languages. 2+ person-weeks of effort for each language. Multiple languages can be trained within short span of few weeks.

KlearStack AI v/s Amazon’s TEXTRACT clashed: Who Emerged Better?

With Amazon’s ceremonious entry in intelligent invoice processing automation sector with ‘TEXTRACT’, industry assumed it as the one to bring in a complete disruption. Surprisingly, even TEXTRACT couldn’t surpass the quality offered by KlearStack; thanx to our Deep Learning Models and Super-intelligent User Interface.

Where TEXTRACT could just capture the raw text across the invoice randomly, KlearStack not only captured the text accurately , but also identified the correct labels & data types of the invoice data, exporting it in standardized format into Excel spreadsheet/ERP platforms. Watch this interesting comparison video that puts light on all such differences : KlearStack – Invoice data extraction better than Amazon’s Textract

Comparision of KlearStack Vs AWS Textract performance, where KlearStack excelled in versatile extraction

Ashutosh Saitwal
Ashutosh Saitwal

Ashutosh is the founder and director of the award winning KlearStack AI platform. You can catch him speaking at NASSCOM events around the world where he speaks and is an evangelist for RPA, AI, Machine Learning and Intelligent Document Processing.