Artificial Intelligence (AI) has revolutionized the way businesses handle invoices by enabling efficient document extraction. By leveraging advanced machine learning algorithms and natural language processing, AI systems can accurately identify and extract key data from invoices, such as vendor information, invoice numbers, dates, line items, and totals. This automation reduces the need for manual data entry, significantly cutting down on errors and processing time. AI-powered invoice data extraction also facilitates seamless integration with accounting and ERP systems, enhancing the overall efficiency and accuracy of financial operations. As a result, companies can streamline their accounts payable processes, improve compliance, and gain valuable insights through real-time data analytics.
Use Case: Invoice AI Agent
In a typical business scenario, an accounts payable clerk reviews an invoice from a supplier and identifies discrepancies such as incorrect prices, quantities, and unexpected fees. By systematically asking pertinent questions, the clerk ensures accuracy and contacts the supplier for resolution, resulting in a corrected invoice. Introducing an AI agent enhances this process by quickly and accurately processing invoices, identifying discrepancies, and answering queries almost instantly. This reduces manual review time, minimizes human errors, lowers operational costs, and allows for handling larger volumes of invoices. The AI agent improves cash flow management, strengthens supplier relationships by reducing payment delays and disputes, provides real-time insights for better decision-making, detects fraud, operates 24/7, and integrates seamlessly with existing financial systems. This ensures correct payments, prevents overpayment, maintains accurate financial records, and enhances overall operational efficiency and financial health.
Try our API
We do not store your images for security and privacy reasons. Please provide us with URLs from online images to test our API. If you do not have any, you can use the following samples:
- https://github.com/Azure/azure-sdk-for-js/blob/%40azure/ai-form-recognizer_5.0.0/sdk/formrecognizer/ai-form-recognizer/assets/invoice/Invoice_1.pdf?raw=true
- https://github.com/Azure/azure-sdk-for-js/blob/%40azure/ai-form-recognizer_5.0.0/sdk/formrecognizer/ai-form-recognizer/assets/invoice/sample_invoice.jpg?raw=true
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Call API with curl:
curl -X POST https://bztech-api-ai.azurewebsites.net/invoice-analysis \
-H "Content-Type: application/json" \
-d '{
"apiKey": "YOUR_API_KEY",
"documents": [
{ "url": "DOCUMENT_URL_1" },
{ "url": "DOCUMENT_URL_2" }
]
}'