How can 400,000 invoices per year be processed by a team of only 6 people?

The example of a use case using Intelligent Data Capture. The same solution can help processing contracts, IDs, receipts, forms... and any other unstructured documents

Here is the link to the original post, including some amazing comments:

https://www.dhirubhai.net/feed/update/urn:li:activity:6476400372549283841/

Context:

- A manufacturing company receiving more than 400,000 invoices every year from more than 500 suppliers

- 29 people keying in these invoices the whole day, a very mondane work

This invoice data capture is a very complex process to automate, because invoices are unstructured data. Indeed, all invoices present the same information, but depending on the vendor, the layout is never the same. for example, all invoices present a price, a date, a vendor name... But this information is never displayed the same way, using the same format and at the same place in the document. Hence, there is a need for a more intelligent automation technology than a standard robotic process automation robot

Solution:

Intelligent data capture technology is a solution which uses Optical Character Recognition (OCR) to recognize the caracters on a scanned document or image, Natural Language Processing (NLP) to understand the words and their meaning, and machine learning to recognize patterns and learn in time. This technology has been on the market for the last 5 years, and is constantly improving

Outcome:

Using this solution, this company has been able to reduce the invoice capture workload by more than 70% in about 4 months time. 

As an outcome, the 29 people team has been redeployed:

- 21 people have been retrained to roles delivering more interesting and value add activities like comments and analysis

- 6 persons are still managing the same process, but their role has completely changed: from repetitively keying in the invoices, to teaching the system, performing quality check, and managing exceptions

- 2 have been retrained and are currently working in the center of excellence, deploying similar transformations to other functions and processes

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Note: The views reflected in this article and video are the views of the author(s) and do not necessarily reflect the views of any company or organization

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