Receipt OCR

How to Extract Data From Receipts Using KlearStack?

Automate data extraction from receipts with KlearStack’s AI enabled receipt OCR software with self-learning algorithm. Scan and extract receipt data from images, hand-written receipts, PDFs or printed receipts with high accuracy and 10x faster.

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Challenges of Extracting Data from Receipts

Poor Quality

Poor-quality of receipts, including faded prints, crumpled paper, and incomplete information.

Varied Formats

Varied formats of receipts, such as handwritten or printed receipts, PDFs, and digital images.

Language Barriers

Different languages and character sets are used in receipts from different regions or countries.

Line-item Extraction

Complexities in identifying and separating multiple items or products listed on a single receipt.

Key-value Extraction

Distinguishing between similar types of information like item descriptions & product codes or handling different kinds of taxes or discounts.

Different Layouts

Lack of standardization in the way receipts are structured with variations in the order and naming fields such as date, vendor name, and amount.

Data Security

Security and privacy concerns related to handling sensitive information such as credit card numbers or personal data.

KlearStack’s AI-enabled Receipt OCR

Your One-Stop Shop for Automated Workflows

Fraud detection and correction

Efficient Management of Employee Expenses and Claims

With KlearStack’s AI-powered OCR, you can effortlessly automate the extraction and processing of data from your employee reimbursement receipts and claims. This means you no longer have to worry about errors or delays in processing your receipts, giving you more time to focus on other important aspects of your business. Our automatic document classification system can easily interpret a wide range of receipts, including those related to food, fuel, and expenses, making it even more convenient for you. Trust KlearStack to streamline your receipt management and improve your overall business efficiency.

Automate expense management process

Ensuring Regulatory Compliance and Tax Efficiency

Trying to manually extract and process data from these unstructured receipts can be a time-consuming and error-prone task for accounting departments. Fortunately, there’s a better way! With KlearStack, you can automate your entire expense management process, from receipts data extraction to feeding accurate and error-free data to downstream processes. So, no more struggling with piles of paperwork or worrying about regulatory compliance. With KlearStack, you’ll have the peace of mind that comes from knowing your expense management is in good hands.

End-to-end payment processing

Intelligent Payment Management

Do you find manually recording, processing, and uploading data related to financial transactions boring? Us too! It’s a total snooze fest. Our solution to this problem? KlearStack! With our receipt data extraction software, you can process thousands of documents with 99% accuracy in minutes.

Supply-chain management

Streamline Supply Chain Efficiency

If you’re running a business, you know how important having a well-oiled supply chain is. That’s where KlearStack comes in. Our AI-driven solution can help streamline your inventory management, service delivery, and demand and supply scenarios so you can focus on growing your business. How do we do it? By automating the extraction and processing of crucial information stored in receipts and invoices. With KlearStack, you can improve supply chain efficiency and reduce errors caused by manual data entry. So, why waste your time on paperwork when you could focus on what matters?

Check out our pre-trained Receipt OCR for your business.

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End-to-end document processing

Straight through Processing

KlearStack superior algorithms are designed to simplify the process of automating data extraction, processing, and sharing across multiple platforms, resulting in faster and more cost-effective financial transactions. With KlearStack’s receipt capture automation, businesses can extract data from receipts and invoices with high accuracy and without human intervention. This eliminates errors and delays associated with manual data entry, thereby streamlining the entire process. With KlearStack, businesses can focus on their core operations while the AI-powered system takes care of their financial data management.

Out-of-the-box Integrations

Seamless Integrations

KlearStack’s seamless integrations with various platforms such as RPA, Quickbook, SAP, Tally, Salesforce, Gmail, and other APIs make it easy for you to use their technology. No more jumping between different platforms and software; everything you need is right at your fingertips.

99% Accuracy

Day Zero Accuracy

KlearStack takes pride in its Day Zero Accuracy technology, which uses the latest in natural language processing, computer vision, and heuristics to extract documents with the utmost accuracy. This means you can quickly scan and digitize new documents without needing to retrain the AI models repeatedly.

Streamlining Your Receipt Process

A Closer Look at KlearStack's Receipt Processing Automation Technology

KlearStack's Cognitive Document Processing technology is trained to read receipts just like a human, with high accuracy and zero chances of errors.

Once the receipts are captured, the software automatically extracts the relevant data from the receipts, such as vendor name, date, amount, etc.

The software applies intelligent classification to the receipts and categorizes them based on their content, making it easy for you to organize and manage your receipts.

Once the relevant data is extracted, it is automatically sent to the relevant team member for verification and approval, ensuring accuracy and reliability.

KlearStack also integrates with other financial software, such as QuickBooks and Xero, to streamline your accounting processes and make it easy to manage your finances.

By automating your receipt processes with KlearStack, you can save time, reduce errors, and increase productivity, allowing you to focus on growing your business.

Frequently Asked Questions

KlearStack’s advanced machine-learning algorithms can accurately capture and automate various types of receipts, including handwritten receipts, printed receipts, and digital receipts. KlearStack is designed to interpret the data within your receipts, regardless of its layout or format, making it easy for you to manage your receipts without any additional hassle.

Yes! KlearStack can capture and automate receipts from multiple channels, including email, mobile apps, and cloud storage services. This feature saves you time and effort by centralizing all your receipts in one place for easy management.

At KlearStack, we have developed a cutting-edge Cognitive Document Processing technology that is designed to read data just like a human would, with virtually no room for errors. By leveraging this technology, our software can effectively and efficiently process your receipts at lightning-fast speeds while maintaining an impressive 99% accuracy rate. Our AI is also able to automatically detect key attributes and apply intelligent classification to your documents, taking the guesswork out of organizing and managing your receipts. Once the text has been extracted, our software automatically sends it to the relevant team member for a quick check, giving you peace of mind that your data is accurate and reliable. With KlearStack, you can streamline your receipt processing and spend more time focusing on your core business operations.

KlearStack takes the privacy and security of your data very seriously. Our software uses industry-standard encryption protocols to transmit data securely between KlearStack and your systems. KlearStack also complies with data privacy regulations like GDPR and CCPA, ensuring that your data is stored securely in our data centers.

Yes! KlearStack can integrate with most accounting software, including QuickBooks, Xero, and SAP. Once the structured data is extracted, it can be easily consumed by your accounting software and other downstream processes, simplifying your workflow. By incorporating human-in-loop business rules validation, you can further improve the accuracy of your AI models and, over time, enhance your straight-through-processing capabilities.

Want to automate data extraction from receipts?

Try KlearStack’s Receipt data extraction powered by AI-driven OCR to digitize receipt data in a structured format that can feed into ERPs or other databases.