Use case.

Invoice Recognition.

Leverage advanced AI to reduce manual data entry, increase accuracy in financial processing, and enhance overall operational efficiency. Automate and streamline the processing of invoices for businesses of all sizes by easily extracting key invoice meta data and connecting workflows.

775 Documents

Kern AI invoice December

What was the value of Kern AI’s invoice

€3,500

What were the invoice numbers for these invoices

Inv001

Kern AI invoice November

What was the value of Kern AI’s invoice

€3,750

What were the invoice numbers for these invoices

Inv002

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Automate invoice workflows

Significantly reduce the time and cost associated with manual processing

Minimize errors in financial records, leading to more accurate financial reporting

Adapts to varying volumes of invoices, making it perfect for large enterprises

What you previously had to do.

Manual Data Entry: Staff manually enter invoice data into accounting systems.
Limited Processing Capacity: Human resource constraints limit invoice processing volume.
Inconsistent Invoice Handling: Varied employee methods lead to data entry inconsistencies.

What this task now looks like.

Automated Data Extraction: Automatically scans and extracts invoice data, reducing manual entry.
Increased Processing Efficiency: Handles more invoices quickly, eliminating backlogs.
Standardized Processing: Uniform approach to various invoice formats.

You can choose from various LLMs.

For this use case, we recommend Azure GPT-3.5.

OpenAI

You can integrate the famous ChatGPT-model from OpenAI as an API.

Microsoft Azure

Host OpenAI's ChatGPT-model on Microsoft Azure. Can be hosted in Europe with added security.

HuggingFace

HuggingFace is an AI ecosystem of open-source LLMs, which can be self-hosted on demand.

Mistral

Fast, open-source and secure language models. Facilitated specialisation of models on business use-cases, leveraging private data and usage feedback.

Train from different data sources.

Data examples.

You can train your Generative AI assistant from different data sources. Here are some examples.

Invoice

Process and extract key information from invoices, whatever their structure and layout

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Further resources

We have collected a list of resources that might be helpful for you to learn more about this use case.

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Document Enrichment

Leverage LLMs Auto-extract Data from Policies.

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GenAI in Finance and Banking Webinar

Discover the transformative power of Generative AI in finance and banking through our webinar. It covers GenAI's applications, underlying technology, development strategies, and safety practices, targeting professionals and developers in Finance, Banking, and FinTech.