OCR 2.0 High accuracy with our Multi-OCR robot

It is not about the OCR (Optical Character Recognition), it is about what we do with the data! Especially since there is not a one-stop-shopping tool that is cost efficient AND delivers the required results for all invoices.

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The Cevinio OCR solution uses unique technology to identify the content of an invoice

It is not about the OCR (Optical Character Recognition), it is about what we do with the data! Especially since there is not a one-stop-shop tool that is cost efficient AND delivers the required results for all invoices.
  1. Comparison between non-structured data on the invoice with structured data such as: Master Data, Historical Data, Purchase Order and Goods Received Note
  2. Pattern recognition for invoice-fields such as invoice number and date-related fields
  3. Relational pattern recognition to identify the total amount
  4. For compliance related and custom fields, a toolbox is available to recognize these fields, using specific rules and keywords
Only for line-level non-PO invoices, we use OCR tools that are based on deep-learning technologies such as ROSSUM.ai
  1. We have selected this tool after an elaborate tool-evaluation; to be fully integrated in Cevinio in Q4 2021
  2. Most line-level non-PO invoices can be handled with ROSSUM.ai (for an additional fee per invoice)
  3. We run the most advanced tools available in the market, and are continuously analyzing other tools to ensure the best possible performance
For a very limited percentage (typically < 3%) of non-PO line-level invoices, templating is required (We have an agreement with a leading supplier of this technology, and it is integrated in our back-office). We know that templating is not scalable for the larger part of invoices. However, some invoices are too complicated to obtain adequately high data recognition to sufficiently limit the manual activities during the invoice validation process

As a result

The Cevinio invoice management platform delivers the best possible accuracy results today, and since we continuously utilize new tools, we will deliver the best possible accuracy in the years to come. Most importantly, you don’t need any OCR (Optical Character Recognition) solution: we run them for you.

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New whitepaper alert!ACCOUNTS PAYABLE TRENDS EXPECTED IN 2022

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