Companies receive invoices from suppliers in different formats like a PDF email attachment, as a paper copy, or fax. As the data in the invoices are not structured in a proper format, the finance department of the organization face challenge to transfer the data manually from multiple invoice formats into the database. The manual transfer process is time consuming and chances of errors are high.
Challenges companies face during invoice automation:
Every invoice could look different, For example: PDFs will be of different formats or layouts, invoice # in one PDF could be on left top corner and in another PDF, it might be on right corner. Sometimes OCR doesn’t know where to look to find the necessary information, extract the data from.
Invoice processing with UiPath
UI Path helps to address these challenges with its new receipt and invoice AI by automatically determining the location of the information that needs to be extracted from the document, irrespective format changes. It helps to reduce the time as multiple layouts need not be created manually. It is saving time, and speeding up the process.