Automated AI reading of invoices
A solution for automatic reading of invoice information of various types and quality using computer vision and artificial intelligence.
Save time
Speed up the document
circulation
Reduce administrative expenses
A working example of the solution
Functional capabilities
Recognizes electronically prepared, scanned and handwritten documents.
Read the basic information and set the additional necessary, such as invoice number, invoice date, payment term, parties involved, costs - without VAT, VAT, with VAT.
Extract the basic information and set the additional if necessary, such as invoice number, invoice date, payment term, parties involved, costs - without VAT, VAT, including VAT.
Automatically converts data to the required format.
For example, "January 1, 2023" to "01.01.2023", or "Pay within 10 days from 01.01.2023" to "11.01.2023" (calculate), etc.
Recognizes more than 300 languages*.
No separate training for artificial intelligence is required.
Provides ≈ 95%** accuracy.
Can be used in the MS Solutions invoice circulation solution , and can also be connected to any other service using the API.
* Basic languages that are also used in accuracy calculations - Latvian (lv), English (en).
** Including electronic, scanned and handwritten documents.
Benefits
Losses when reading documents manually.
200 documents
500
EUR/year
500 documents
2000
EUR/year
1000 documents
4000
EUR/year
About the calculation:
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The calculation includes only calculable, determinable losses. Various related expenses are not included, it was not necessary to attract the employee to other jobs, etc
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The calculation assumes that an employee spends 90 seconds on average to process one document and the employee's net salary is 1300 EUR/month.
Costs
Choose the most appropriate package, depending on the volume of documents you purchase per month.
Package type
Desired amount of documents*
Fee for the document, €
Minimum fee per month, €
Basic
< 200
0.20
20
Small
> 200
0.18
40
Magnified
> 500
0.15
90
Volume
> 1000
0.10
150
Connection
for invoice circulation solution**, €
400
* Desired number of documents per month, with the specified package becoming advantageous in relation to the previous package.
** Connection to the MS Solutions invoicing solution
Examples of estimated cost calculations:
The company processes approximately 600 documents within a month and selects the "Enlarged" package. In fact, the company processed 650 documents within a month. As part of the package, the company must pay a minimum fee of 90 EUR at the end of the month, which covers the processing of 90/0.15=600 documents within the month, and an additional 50*0.15=7.5 EUR for additional processing documents, making the total monthly costs 90+7.5=97, 5 EUR.
The company processes approximately 250 documents per month and selects the "Small" package. In fact, the company processed 210 documents within the month. As part of the package, the company must pay a minimum fee of 40 EUR at the end of the month, which covers the processing of 40/0.18=250 documents within the month, including the entire amount of documents processed this month.
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Are there any system user restrictions?No. The system can be fully used by all users who have active Microsoft 365 Business Basic or Standard licenses .
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What are the options for adapting the solution to the company's needs?Initially, the solution is installed in its standard construction. The standard structure is a long-term proven structure and functionality of a solution that provides all the basic document management needs of companies. After the initial installation, the solution can be freely and widely adapted to the company's needs. We will help you by separately assessing the amount of work, or you can do this adjustment yourself or by engaging another competent Microsoft 365 partner.
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Are usage tutorials included?Yes, the implementation of the solution also requires training of the main system users, who can then, by combining the acquired knowledge with the company's internal processes, distribute it within the company.
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What are the options for further development of the solution?The solution has no copyright restrictions and you can further develop it freely and extensively with the help of MS Solutions or on your own, or by engaging another competent Microsoft 365 partner.
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What are the deadlines for installing the solution?Installation of the solution takes a total of 2 - 4 weeks, depending on the progress of testing and the extent of the need for adjustments. Standard solution installation - 1 week Testing and adjusting the solution - 2 weeks Training (a training session organized within the week) - 1 week
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What are the next steps when choosing one of the solution options?Contact us and our representative will tell you in more detail about further steps, as well as answer all current questions and send you a simplified cooperation agreement form for consideration and signing.
Start the digital transformation
today
Contact us in a way convenient for you.
Learn about next steps to install the solution and get answers to any outstanding questions.
Request a free consultation
Free, remote, 1-hour long consultation at a time convenient for you.
