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. |
(Last Updated On: January 27, 2022)