Cloud B2B

Supplier Invoice Recognition System powered by Azure Ai and Invoice Smart Match

In a new major development of their successful Purchase Order and Supplier invoice system, Cloud B2B is delighted to announce a full data capture function, based on the comprehensive Azure Form Recognition service, which has been integrated to dramatically speed up the processing of supplier invoices in the purchase to pay version.

‘Time is money’ is the old expression and in a busy Accounts office, especially where invoice handling now falls on a smaller number of staff, the ability to process supplier invoices more quickly will dramatically save time and thereby cost.
OCR (Optical character recognition) or Form recognition has been around for some time but has reached new heights in the Microsoft Azure space, with the level of accuracy in reading and recording data at a new level.
However to achieve the automated matching of supplier invoices to purchase orders at a high level, Cloud B2B’s in house software engineers developed an additional level of functionality badged Invoice Smart Match that has the ability to recognise patterns in invoices, so even orders without Purchase Order numbers can be handled on a more automated basis. Using this technology even invoices that reference multiple PO’s can be handled and matched to the correct open purchase order lines.

Daniel Page (Head of System development) commented “No recognition engine is 100% accurate, so some QA of documents that fail to meet set criteria will need intervention. But with a comprehensive set of tools, the system is configurable to alter a range of dynamics in the definitions used, to account for a wide range of variations in imported invoices. Using Ai in combination with the additional development we have done in house, we have seen a remarkable level of accuracy, which will mean many invoices will not need a QA stage at all, providing the projected savings in client accounts operations in a short time frame (weeks)-dependant on volume throughput”

Graham Light (Director) said “This is a powerful optional module will increase the efficiencies that our Purchase Order and Supplier Invoice solution can provide. I foresee a high demand for this as we come out of the COVID era, because saving accounts staff time and effort on administrative tasks will be key. So, I encourage clients – current and potential- to register their interest as soon as possible to take advantage of this additional Ai function as part of the Purchase Order and Supplier Invoice system”.

Demos of the new module, based on Cloud B2B and IPC Group invoices can be reserved starting in the next few weeks. We will also be able to show processing of clients own invoices as part of the sales process.

Invoice Recognition System - Ai Stats


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